New Delhi

Resale Option In Neharpar Faridabad Property

Faridabad forms an important part of the National Capital Region due to its proximity to New Delhi, and resale property in Faridabad has been specifically in demand especially by those individuals who are operational in Delhi NCR and are in need of a residential property which offers immediate possession. That, in fact, is the most important advantage of resale properties in Faridabad over new projects, as a resale property is ready to move in, and offers immediate possession, whereas there is a long waiting period while purchasing new projects, which is generally more than a year.

Resale property in Faridabad is also preferred over new projects as it offers a readily developed infrastructure and fully operational surroundings which include maintenance facilities, connectivity via road and other types of transportation facilities, whereas new properties are generally developed in a completely new location where the infrastructure and surrounding need to be developed from scratch, which often takes quite some time to become fully functional.Also resale property in Faridabad enjoys the benefit of being centrally located, while most new projects are coming up in secondary sectors.

The reason behind this is the unavailability of freehold land in prime locations; as most of it is already taken up and built upon, due to which new projects have to be set up on the outskirts where land is available in abundance. However, there are also a few parameters where resale property in Faridabad lacks when compared to new projects.

For example, a resale property might not enjoy the same level of customizability as compared to a new project, which is untouched and ready to be customized as per its residents” preferences and requirements. Apart from this, resale flats in Faridabad may not be offering features and amenities that are as modernistic as a new apartment in Faridabad would offer, the obvious reason behind which would be the fact that resale flats and apartments were designed and developed much earlier.

But if one wants a fully functional flat in Faridabad with instant possession, then resale property in Faridabad is the most suitable option.

Delhi Property – 16th Most Expensive Real Estate Market Of The World

Delhi, the capital of India, has been the real hotspot in the real estate industry in the country. In recent years, Delhi property market is growing at a phenomenal rate due to great improvement in the transport system, expansion plan of 65 km- long Delhi Metro Rail and the commencement of 2010 Commonwealth Games in the capital. A real estate consultancy has rated recently New Delhi as the 16th most expensive real estate market of the world and the costliest retail destination in India. The demand for real estate development is expected to remain robust across Delhi property market due to huge demand from IT/ITES sector.

Residential Real estate
Delhi residential real estate market segment is growing exponentially because of huge demand for housing from IT/ITES and foreign diplomats. South Delhi is the most happening residential place in Delhi property market and the rental values of residential properties like the flats, villas and duplex houses are extremely at higher end.

Commercial Real Estate
The leading retail brands in Delhi property estate market has generated huge demand for commercial space in the city because of its large format retailing and burgeoning demand from IT/ITES segment as well.

New Delhi commercial market space is broadly classified into:
Central Business District Connaught Place
Secondary Business District Nehru Place & Bhikaji Cama Place in South Delhi
Peripheral Business District Jasola, Saket & Noida.
Some of the major transactions in Delhi property market are:

Central Business District
Ministry of Finance 15,700 sq.ft.
Edelweiss 13,500 sq.ft.
Maquaire 7,000 sq.ft.
Atlanta 20,000 sq.ft

Secondary Business District

Nehru Place
Sunflag 3,500 sq.ft.
Jasola

Porsche 14,000 sq.ft.
Sapient 22,000 sq.ft.
Hansgrohe 23,000 sq.ft.
Juniper Networks 8,000 sq.ft.

Saket
ICICI Prudential 10,000 sq.ft.

Peripheral Business District
Gurgaon
LI & Fung 200,000 sq.ft.
Deloitte 70,000 sq.ft.
Ericsson 70,000 sq.ft.
Kyocera -12,000 sq.ft.
Fujifilm – 10,000 sq.ft
Noida
Accenture – 2,00,000 sq.ft
Sapient – 2,00,000 sq.ft
Amway 26,000 sq.ft

Conclusion
Thus, Delhi is a preferred place for investors worldwide and the city is a significant destination for leading MNCs, IT/ITES companies and corporate pouring lot of investments that in turn creating a hue demand for commercial real estate space in Delhi property market.

According to industry survey, Delhi real estate is considered to touch greater heights in the hospitality sector with 27 new hotels and serviced apartments with more than 4900 rooms in the next 3-4 years. And, the other interesting and fascination information is that Delhi real estate is expected to touch minimum hundred shopping malls by end of 2010 due to burgeoning retail space demand in Delhi real estate market.