Accommodation Times News Services
By Dr Sanjay Chaturvedi
Dooms days of Delhi have gone. An emerging market which have by passed all markets in India will again come in lime light. The most conservative appraoch by buyers in Delhi and NCR will bounce back once new state government is formed. The other economic and socio economic reason by and large still to be proven but the demand will not wait now.
Though a huge inventory is still lying and waiting for their takers, the rates have substantially marginalised and in lowest level of corrective mode. Comparing with 2007 level, Delhi is now almost 35% high and the first raise would be from commercial lease. In many parts and especially in South Delhi, the office spaces have already touched Rs.200/- mark and most likely to surge ahead of its trend.
The indication of revival, as historic data estimates, always have been through commercial lease. Since huge demand for residential apartments persists and proof being application with DDA for flats, the market is all set for a big innings.
NCR and all its developing zones, either effected by NOIDA case and Land acquisition hurdles but nothing was wrong with demand part. Buyers did not wanted surprise and hence seating back. But no sooner the authenticity is proved, the market dynamics will play a vital role in matured market.
Housing finance is ready to facilitate and new government will be duty bound to give a healthy environment to real estate.
The good times is on the horizon for Delhi and its not just local market of Delhi and NCR but it will be international destination since its rival Mumbai has lost its relevance and there is nothing left for investors. The transparency level is nil and people wants to come out of the city.
Delhi is offing a good appreciation and aggressive marketing fetching good results. Good Tie ahead.