Property prices in Delhi have seen a huge run up over the past few years. Close on heels of Delhi real estate are other metros like Mumbai, Chennai, and Bangalore. Enjoying status of the Capital city, Delhi has certainly emerged as the fastest growing economies in the world.
The city is believed to be the best in terms of infrastructure facilities and the state government is proactive in bringing contribution of private sectors to push a property boom here. With a high proliferation of companies of international repute looking forward, the property market in Delhi is yielding high returns, as what looks to be the prevailing scenario, which is currently driven by potential investors.
Delhi comes to a third position on the list of property investors' most preferred destinations. There are number of real estate projects by prominent developers to come up in Delhi, with both residential and commercial projects in the city's pipeline.
As compared to the first quarter of 2007 when real estate prices in Delhi were going through the roof, second quarter of the year sees stabilization while there has been a slight increase in rental values during the same period.
Rentals in Delhi have increased by 5-10 in areas such as Prithviraj Road, Aurangzeb Road, Golf Links, Jor Bagh, New Friends Colony, and Chanakyapuri.
However, there is no considerable change in Delhi property capital values during the second quarter of the year. High interest rates on home loans and low returns have encouraged several investors to adopt a wait and watch policy.
Large NRI investments have been seen coming to the Capital city. This has given a strong boost to real estate prices in Delhi and its suburban neighborhood, the areas which are consolidating their recent profits.
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