To get an idea of the real estate
scenario in any region or country, we must first look at some important and
critical factors of that region that have a significant impact on the real estate.A
real estate construction
company is Delhi NCR region should consider them self to be in a challenging
environment that gives them good business prospects.
What are the factors that can impact
the overall real estate market?
Historic Importance:
To understand the real estate
market, we must look at the history of that particular region. In this case, we
are talking about Delhi and NCR. Delhi has been the capital city of many
kingdoms from historic times. Since 1911, it has glorified the title of being
our country’s capital city. It proudly is the home to a number of strategically
important buildings and offices such as the parliament, a number of government
ministries and defence establishments that are critical to run the country.
The Population Density:
According to the last census, the
population is over 16million and is spread over an area of 1400+ sq meters.
Thus making the population density lesser than that of Mumbai. It is said that
the increase in population of Delhi can be attributed to migration from
neighbouring states; where people have come in search of a better life and
means of livelihood.
Business Hub:
It is a rapidly growing commercial
and business hub. A lot of development has happened and this area is now
buzzing with industries in the manufacturing sector. The software industry,
hospitality, telecom sectors have also quickly set up their operations and
offices here to employ thousands.
The real estate market cannot be
immune to these developments and the rapid growth in the infrastructure and
overall growth has resulted in many real estate projects coming up in these
areas.
Infrastructure and Development:
The
government and infrastructure improvement has seen some significant milestones
in this region. The Delhi Metro is one such jewel that can boast of improving
the life style of the people of Delhi. In addition to reducing the travel time
and improving connectivity, it has also contributed to the reduction of
pollution as people have started preferring the Metro train travel over cars
and bikes which create air as well as sound pollution. Other improvements and
initiatives like green buses and autos are also helping to improve the quality
of life here.