Real estate industry in Delhi
Land is the basis of all businesses, whether its hospitals, factories, educational institutions, shopping malls, markets, food outlets, all are built on land. Every type of business needs a piece of land to establish them. Like the rise in the price of food products, leads to an increase in the prices of restaurants or daily budget of houses, same ways, a shoot up in the property rates affects all the business and their leading markets.
Real estate industry is the sector responsible for the evaluation of the prices for all the personal and commercial properties. The price standards for selling and purchasing the properties in a particular area are defined by a group of people called real estate regulators working under the of real estate laws. The industry of real estate is in itself a great industry divided into various sectors like: appraisals, brokerages, property management, real estate marketing, net lease, real estate investing, relocation services and corporate real estate.
The real estate market is divided into cities and then further on the basis of area and location. Among all the metropolitan cities, Delhi grabs the position of being the hottest real estate spot for most of the people related to the property business. Delhi being the capital of the country attracts a larger number of people for job and other career related opportunities. This leads to a further rise in the demand and the need for the property or land for the residential, business and other purposes. Therefore, the demand and the growth of real- estate industry in Delhi are ever-growing.
Delhi is the centre of attraction for all the commerce people due to availability of diverse audience and prospective customers in the city. Delhi is famous for markets like south Delhi, GK, Chandni Chowk, which magnetize a large number of shopaholic people to shed huge bucks from their pockets. Areas around these markets or these shops itself are tagged worth a million. Delhi is the hub of education, so areas nearby north or south Delhi universities form a major share of the residential projects for rent and shopping market places.
The latest developments of property in Delhi like expansion of metro, instillation of various luxuries in the housing societies like parks, welfare groups, swimming pools, and building of shopping malls at every nook and corner of the city has enabled the citizens to lead a very easy and a comfortable life. People want their houses to look different, more beautiful with the engraved designs and structures. An inclination towards the stylish and exclusive houses and property design have been observed and all these hi- tech advancements in the local areas or in the city as a whole, results to an increase in the demand of these properties leading to a jump in their prices.
The major share in the booming up of Delhi property market goes to the trend of opening up of more and more shopping malls in the city. Delhi people have become addicted to shopping in gigantic malls, and as it is said, accomplishment of one project leads to the beginning of another, so has become the habit of the real- estate industry. The success and popularity of one mall gives birth to another and so on.
A lot of health and sports complex have also grown rapidly in the past few years due to the increasing consciousness in people about their health and lifestyle. People prefer going to gyms or playing sports for regular exercises or body warm ups. Opening up of new healthcare projects of different groups, also claims a major share in the development of the real-estate industry.
Therefore, it can be concluded that the growth of real- estate industry in cities like Delhi is everlasting due to its indefinite developments and needs of the general public and citizens.