Planning to invest in Delhi real
estate market? Well, say cheers to some latest developments in the real estate
segment that would encourage you to invest in the region. While some experts
say it is only a mock up to boost sales, others have opinion that it would turn
around the dwindling fortune of the Delhi real estate market. Here are 5 things
that would certainly change the face of Delhi real estate.
1. Leasehold to Freehold
becomes easier
Delhi Development Authority (DDA)
has come with a transparent policy to get your leasehold property into a
freehold. It was announced on September 24th through online applications. It
would become easier to sell the properties in the real estate market,
especially if it is reeling under slow trend. It would come as a boon to those
relocating to Delhi and opt for buying a house in Delhi from investors. If you
have a house in some other city, you can get the same mortgage value as your
existing unit.
2. Boost the sluggish market
with selling of older units
Selling a house is a tough task
in a sluggish market. The DDA has made strict norms to prevent the home sellers
from under-pricing or over-pricing their assets. Regardless of the location and
type of property to be sold, you can expect a fair price despite an edgy
market. Older units will be sold to middle-income groups so that they can enjoy
quality life without being left out due to lack of opportunity.
3. National Green Tribune
(NGT) to land in Delhi
NGT is a fairly new body that
screens the cases related to the environment and forest area trespassing. In
Noida and Delhi-NCR, NGT is very active in cases pertaining to projects that
fail to complete their completion deadline. NGT will now shift focus towards
those units that fail to comply with the Seismic standards, especially after
the recent Nepal Earthquakes in April and May.
4. Government will fuel its efforts
on Land Pooling
DDA will devise a master plan to
bring more land under its jurisdiction to fasten infrastructure development in
the cosmopolitan city. DDA will regulate the planning and redevelopment of the
land, in partnership with investors and realtors from private sector. It will
be a major boost to the economy and the real estate market considering the fact
that Delhi finally has a stable political scenario after decades of misrule.
5. Pep up the older localities
If you are looking for a luxury
asset in the interiors of Delhi, where all you find is old building and
infrastructure issues; things will change. Residential sectors in Delhi like
Safdarjung Enclave, Vasant Kunj, Anand Niketan, Shanti Niketan area, Dilshad
Garden, Friends Colony, Gautam Nagar, Golf Link, Hauz Khas, Green Park, Greater
Kailash, Gulmohar Park, Jasola Vihar, Lajpat Nagar will see superior
connectivity and 24 x 7 CCTV surveillance. Moreover, pepping of the new
infrastructure facilites will arrest the slowing real estate market.
Also Know about Property
in N zone Delhi and Venus
Delight N zone Delhi
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