New Delhi is an important city in South East Asia. This place is home to some of the big MNCs and it provides accommodation to a significant size of the country’s population. Undoubtedly, as of the day, it is an important city and the real estate developers, here, recognize it. For quite some time, this place has witnessed the erection of attractive real estate properties. However, in recent times, there has been a sharp increase in its population and with that there is a shortage of Delhi’s natural resources. This also resulted in the occurrence of an acute shortage of affordable housing for the low and middle-income groups. Experts are of the opinion that an acute shortage in the housing market together with poor coordination among various public agencies is an important factor behind poor housing in Delhi.
The housing supply is not that much. However, the demand for affordable housing is on the rise. The real estate market in Delhi or its suburbs has hit a saturation point. In the past, the market was adversely affected by Central Government’s policies like RERA, GST, and demonetization. Yet many are of the belief that Delhi’s real estate will grow gradually in the days to come. The central government, as well as the Delhi Government, is trying to bridge the gap between the demand and supply.
Reasons for Not Getting Affordable Property in Delhi, NCR
Following are some of the important reasons why you may not get affordable property in Delhi, NCR:-
* Shortage of credit for low and middle-income people in rural as well as urban areas. Lack of sufficient funds makes the home buying a daunting task for low or middle-income groups.
* The low-profit margin for private developers.
* Single Window Clearance
If you are interested in property in Delhi NCR then you can visit relevant property listing website to know more about real estate properties in Delhi, NCR region.