Delhi is an important city and is home to many people. As more and more people are willing to invest in real estate properties in Delhi NCR, there is a great demand for affordable apartments in the city. Understanding the requirement, the real estate developers in the city are exploring ways and means to build standard yet pocket-friendly residential apartments in the city.
Factors that Determine the Activities of the Local Real Estate Developers
With respect to Delhi affordable housing, following are some of the important factors that determine the activities of the local real estate developers:-
Enhanced Road and Rail Connectivity
More and more real estate developers in Delhi are contemplating making investments in real estate property because they find that Delhi has many things to offer. Delhi has state-of-the-art transport facilities in terms of roads, railways, waterways, airways. There are many expressways as well as rail projects that are in the pipeline and all these make Delhi a favorite destination for real estate developers.
Government Expanding Delhi’s Metro Project
Delhi has a robust Metro infrastructure and it greatly reduces the journey and time for passengers during office hours. The Delhi Government is looking forward to cutting down travel between North and East of Delhi. The Government is planning to expand Delhi’s Metro railways.
Land pooling Policy is in its Final Stages
Post-approval of the land pooling policy by the government, it has become simplified for the real estate developers to embark on real estate projects. The land pooling policy helps the different real estate developers to cater to the residential demand of a significant size of Delhi’s population.
There are many other factors that led to reinstating consumer’s faith in the property market. Over the years there has been an enhanced transparency and accountability post RERA. GST is considered as a major inducer of growth. Good road and rail connectivity, effective land pooling policy are some of the factors that led to Delhi affordable housing.