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Category: Articles » Finance » Real Estate » Article » Article Code

Delhi for rich only

The real estate in Delhi is now a rich-man's, upper-middle class' ball game. The economic stratum below this is practically out. The premium real estate in Delhi has gone out of reach for most of the buyers in the world. The capital of India on real estate is comparable to New York and Tokyo where even the major businesses have to shell out fortunes for premium addresses. Premium addresses alone are not the criteria for most of the business houses when it comes to the location of their offices. It is only few for whom strategic ... read more

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The real estate in Delhi is now a rich-man's, upper-middle class' ball game. The economic stratum below this is practically out.

The premium real estate in Delhi has gone out of reach for most of the buyers in the world. The capital of India on real estate is comparable to New York and Tokyo where even the major businesses have to shell out fortunes for premium addresses.

Premium addresses alone are not the criteria for most of the business houses when it comes to the location of their offices. It is only few for whom strategic locations like the upmarket district in the capital of a country is important.

Others see the airport and road links which must not be cumbersome, Gurgaon is coming up as a viable alternative to Delhi properties.

Delhi property rates in case of premium and high-end areas have touched an all-time high, which is an old story. The new story is that some of the premium properties have crossed Rs 100 crore marks and are making news.

"When I moved in my flat in Dwarka the real estate prices were among the lowest here and we had had all the attendant problems of water, electricity and roads; that was atleast seven years back; since then there has been a major turnaround and we were taken aback when we came to know that Dwarka became the choice of the upwardly mobile; the development profile too became quite attractive and several projects were planned and executed; now Dwarka is a premium address for expensive and high-end market," Arun sketches the profile of the West Delhi residential area.

Buy flats or plots, Dwarka is also a place of choice for commercial establishments. It serves as a good connectivity hub between the heart of west Delhi and the periphery of south Delhi on extension.

The real estate in Delhi is now a rich-man's, upper-middle class' ball game. The economic stratum below this is practically out.

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