Is Buying An Apartment in Delhi

User Rating: 5 (1 votes)

The real estate industry in Delhi is among the fastest appreciating industries in India; this is partly due to the city being the capital but the facilities in the city make it even more attractive.

apartments in delhi

Ever given a thought why apartments in Delhi have become a priority over bungalows or independent houses? Delhi, the very soul of India also faces the dilemma of accommodating thousands of people coming to the city for education or career purpose and finally declaring it as their homes. Not only are the migrants, the bonafide residents are also living in the city in significant numbers. People from small towns and villages across the country find it hard to resist the urbanized living prevailing in the city. World class educational facilities give the students an edge over others.  The availability of career opportunity is also unmatched to any other place in the whole country. Eventually, the rapid growth of Multinational Corporations (MNCs) and commercial activities on the rise leave no reason for people to not to invest in a house in Delhi.

Changed occurring in the Delhi real estate industry

In the earlier times when the scenario was different, owning an independent house was the major trend but for the last couple of years this trend is on the decline. Most of the people are now keener on purchasing a residential apartment. Comfort, safety and luxury are becoming the important things in an investor’s mind, and the tentativeness to spend more money on extra things has gone down significantly. All this has become possible due to the vast facilities available in the residential flats or a house in the capital.

Amenities that are provided with some housing schemes in Delhi

A residential apartment in Delhi has everything a person can expect;: round-the-clock security, chic interiors with modular kitchen, power back-up to keep you cool during summers and warm in winters, high-speed elevators, designated parking space for your riding beauty, intercoms to keep a check on uninvited visitors and sufficient water storage to avoid the taps running dry while you get ready for your office. Not every residential flat and house in Delhi has to offer these facilities, there is more to it. The more you spend, the longer the list of amenities become with words like Jacuzzi, Gymnasium, amphitheatre being added to it.

When the property boom in Delhi dates back to

The popularity of the residential apartment was not so much in the earlier times. Earlier, almost everyone preferred independent houses or even purchased land to construct their home as per their individual desire and taste. The advent of the year 1962 changed things significantly. DDA formulated a Master Plan for the city to meet the ever rising demand for residential properties. The reforms were done by DDA because the allotment of land to individuals was impossible due to the scarcity of land. DDA decided on building residential colonies utilizing maximum space and accommodating not just one family but many in one particular building. This is how the residential flats in Delhi actually came into existence. Who would have thought that a small initiative by DDA will assume a mammoth size years down the line, but it is evident that it was indeed the right move. Constructing an independent house proves very taxing financially as well as mentally. Owning aflat in Delhi, on the other hand,is a source of relief in both terms.

Delhi is the hub for property investment but if you don’t have the money to invest, there are also the bordering areas like Gurgaon and Noida which you could consider investing. These are also appreciating at an alarming rate.

Rashmi Walia writes for 99acres.com, India’s leading property site. Log on to 99acres.com to find luxury houses, bungalows and apartments in Delhi.