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The property in New Delhi has grown at a faster pace in the recent times. The real estate scenario in New Delhi is something that is similar to that of Mumbai or even Bangalore. This has been possible due to the various measures taken by the government and the property developers to make the circle rates in New Delhi as low as possible. The task of the property developers was to clear the land hurdles and this is why the construction of the projects like the Karol Bagh, Lodi Bagh, and the Pink City metro rail was completed in record time.
The success of the projects in New Delhi resulted in the establishment of numerous shopping complexes, commercial centres and employment generating businesses. There was a drastic fall in the property price after the completion of the projects. Even the circle rates have come down drastically and this has further led to the growth in the property value in New Delhi. As per the property value calculations done by an analysis team of the CRISIL of New Delhi, the property values in New Delhi are expected to grow by 22% in the next two years. This increase in the property value will ultimately help the people of New Delhi purchase or rent a house of their choice at a comfortable rate.
The construction and the development of the projects in New Delhi are also a contributing factor for the high property value in New Delhi. The capital has benefited a lot from the inflow of funds provided by the Centre and the federal government. The inflow of funds enabled the real estate developers to complete a number of projects on time and at low cost. This helped the projects to earn good profits and the profit amounts were therefore used to cover the cost and other expenses of the projects.
The property developers have managed to fund the projects and cover the cost and the expenses of the projects in a very convenient manner. However, the profit-earning capacity of the projects is only viable if there is an increase in the population. Hence, if there is an increase in the population, then the demand for the rental properties will also increase and thereby will help the property dealers earn good returns on their investments. If there is an increase in the population, then naturally the demand for the properties will also increase and hence the prices of the properties will also shoot up. The circle rates for the properties in New Delhi are determined according to the demand and supply conditions prevailing in the market.
If you are planning to purchase a property in New Delhi, then it is always recommended to consult with the real estate agents. Real estate agents can help you find the right property according to your requirement. They will help you identify the properties available and the value of the properties available. Moreover, the estate agents will help you find properties that suit your budget and preference.
The properties available in the market may not be fully furnished but they would at least provide you with a place to stay. Hence, it is important to understand that the rental rates and circle rates depend upon the condition of the property. The better the condition of the property, higher will be the rental rates. However, the investors must remember that they would have to put more money into renting the property as compared to purchasing it.