Low-Rise Independent Floors in Demand in Delhi-NCR

Low-rise independent floors are in great demand in Delhi-NCR. This preference is mainly found for residential houses. Especially those who like privacy and can afford the high cost of land value opt for independent villas in Gurgaon, Noida, Gaziabad and Faridabad regions of NCR. Normally, independent villas are not preferred by most people due to the high land value. As the stretch is an industrial belt, corporate executives, industrialists, businessmen, professionals and NRI buyers mainly prefer independent floors. As an inevitable corollary and consequence to this higher preference for independent floors, the Delhi-NCR region has been witnessing an unprecedented rate of appreciation in this category of real estate.

In Delhi-NCR, in the Gurgaon region the average square foot rate for low-rise independent floors in March 2007 it was Rs.8250. By August 2009, it rose to Rs.12000. Similarly, in Noida Sector 22 it was Rs.7750 in June 2007, but in June 2009 it went up to 11000. In Gaziabad Sector 15 the average cost was Rs.7500 in April 2007 and in March 2009 it went up to Rs.10500. Again, in Faridabad the average cost was Rs.8000 in July 2007. Now it has reached Rs.12000. Same is the case in different locations in Delhi. In fact Delhi has been witnessing a consistent rise in property rates for several decades. This is primarily due to the importance of Delhi as the National Capital. Also, Delhi is the most preferred educational centre in India with prestigious centres of learning. The prices of independent floors in prominent Delhi localities in June 2007 and August 2009 are like this: Alipur (8250-11000); Ashok Vihar (8000-10750); Dr.Mukherji Nagar (7500-9000); Kingsway Camp (8000-10500); Model Town (7250-10000); Mori Gate (7500-10250); Paschim Vihar (8000-10500); Shakti Nagar (7500-10000); Shalimar Bag (8000-11000).

It is evident from the foregoing data that low-rise independent floors are in great demand in the Delhi-NCR property. This ever-growing demand is due to the commercial significance of the place. There has been a metamorphosis in the economic scene in Delhi and surrounding area during the recent years. This change was triggered by the emerging economic equations and market matrices whereby the Indian subcontinent is perceived as a global market of abiding potential. This has resulted in the convergence of the major business brands of the world in the Delhi-NCR region. In consequence, there has been an ever-increasing migrant population to these locations from intra-national as well as international locations. As an inevitable fall out of this phenomenon, real estate prices went up and independent floors became all the more in great demand.