NCR promises boom in Realty

Delhi is undergoing a facelift these days with the rise of satellite townships, business avenues and various other infrastructural developments. The aim is to make Delhi a global metropolis and a world class smart city by year 2021. The Government and the private sector are hand in glove to make Delhi a better place for which government has initiated Private Public Partnership ( PPP) model. The PPP model has been propagated to improve infrastructure actively as well as for development of the land.

With the help of Delhi Development Authority the Delhi Master Plan 2021 aims at constructing 65,000 houses for the urban population in the coming four years. Nevertheless, there is also a planned budget 2012-13 by the central government which would involve private sector for cheaper housing which would in turn boost the development in NCR.

Infrastructural development and improved connectivity with better transportation will lead to concentric development of the capital city. Various highway and expressway projects like Yamuna expressway have not only made way for better connectivity but have also paved way for real estate developments. There was also a stress on Delhi-Mumbai Industrial Corridor by the Ministry of Finance for on the either side of Western Dedicated Rail Freight Corridor. 

Also, the Eastern Dedicated Freight Corridor would be intersecting the Western Freight Corridor in Greater Noida thus making Greater Noida an important area of NCR. Dedicated Freight Corridor Corporation (DFCC) and the U.P state Industrial Development Corporation (UPSIDC) on the initiation of the Government of Uttar Pradesh have already started the deliberations on developing the industrial and residential townships along these corridors.

The IT sector has much to offer being the largest occupant in excess of 200,000 sqf each across Gurgaon and Noida. More of such developments are expected in the fourth quarter of which 70% will comprise of IT across Noida and Gurgaon.

Gurgaon as of now is the most favorable location as compared to Noida and Greater Noida for commercial and residential developments.

 Moreover, if the much needed global economic recovery along with domestic economy comes to surface the future of realty sector is bright in NCRs.