India is rapidly becoming power-house in terms of the World Wealth. It is making millionaires at a great rate. Purchasing property in Delhi can be a manner of any investor to tap into wealth which is being made. Before buying a property in Delhi city, you need to keep five essential points in mind which will assist you to have profit and to keep yourself away from the same fate as several other investors who have been cheated by real estate agent in Delhi.
In case, you are overseas property investors, it can be easy to hand over money & rely on other people to do deal for you, as you may not have time to travel back and forth to India, enquiring about the properties; although, minimum you must do is to do due diligence on any person who is going to deal on your behalf.
You must appoint a solicitor who knows all about purchasing property in India. Buying property in India is not the same as purchasing property in the UK, or elsewhere in the entire World, & you must have someone to make sure that everything is done legally & above the board & that your interests are kept in mind properly.
Do test water supply & ensure electrics are working & adhere to all the safety measures.
You must know what is recently going on & what is planned in local region. India is changing rapidly that means changes take place quite fast. Your new property may look nice now & have a good view of the sea, but what about when the developer will erect that big apartment block on land between you and the sea view. Value of property will drop considerably for rental & resale purposes.
You are required to be clear on who owns property that you are going to buy. Last thing you wish to do is to start the proceedings to purchase a real estate from some person who passes himself off as owner, but is not.
Delhi has enough number of posh real estate options
There were several localities that were regarded as moderate or not worth putting money into like South Delhi but at the present, these properties are counted amongst the 10 most developed & most preferred areas as far as posh real estate are concerned.
By posh property in Delhi city, we mean properties that are inhabited by elite class who have gained high reputation in society. Such real estate includes Golf Links. This area is inhabited by high & rich class of society & has high value. Such real estates are rarely made available for sale, & even if property is present for sale, it is not affordable for the common man. Only few can buy the property in this specific area.
Another such posh area is Greater Kailash. The region is fully developed with large houses & spacious floors. People residing in the region enjoy all the latest facilities & cream of Delhi live in this area & feels proud to be here. Same other regions include South Extension-I. The region has good market, equipped with the prominent brands & showrooms. The showrooms fulfill demands of people. This place has All India Institute of Medical Sciences & big malls such as Ansal Plaza in near vicinity to cater to the requirements of people.
South Delhi is full with the expensive real estate such as Green Park, Hauz Khas, New Friends Colony & several other places. Upper class of the society with big earning & spending capacity live in such luxurious colonies.
West Delhi is also not far behind. Business class is well-placed in the west Delhi areas such as Punjabi Bagh, Paschim Vihar, Karol Bagh and Rajouri Garden. Names may sound known as many were owned by business class since many decades. These have been transformed into the elite localities due to large number of wealthy citizens, lacing-up such colonies. People from all parts of India have found way in cosmopolitan city of Delhi.
Even North Delhi area is not far behind. It nurtures cream of India & many popular personalities reside in this part of Delhi region.
East Delhi has several premium areas such as Vigyan Lok, Preet Vihar and Anand Vihar, who compete well with the rest of Delhi & are surely out of budget of middle-class people.
Delhi has a big population and most people want to live her to run their business. Ever-rising demand for commercial properties in Delhi is due to the strategic location of the city. Since Delhi is the capital of India, it has a sound infrastructure. Many MNCs are locating their offices in Delhi since operating from India costs less when compared to setting-up business overseas. Easy availability of the skilled manpower at a reasonable & cheap price is another reason why the big MNCs are coming to Delhi city.
To buy/rent any of available commercial properties In Delhi for running large business or otherwise, most essential thing to be considered is area of Industrial real estate. Wrong selection of area could ruin business dreams even in case you have the best of everything else. Some major regions housing business real estate in Delhi are CP (Connaught place), Nehru Place, South Extension, Okhla Industrial area, Vasant Vihar, Azadpur, Punjabi Bagh, Naraina Industrial area, Patparganj Industrial area, Greater Kailash and many more. Owning/renting of commercial properties in these regions keeps business well-grounded.
The size of real estate in Delhi varies from single room to multi-storied buildings. Accordingly, the price is determined depending on area of business property. In this way, budget restraints pose serious limitation & are major deciding factor for buy or rent of commercial properties in Delhi. It is obvious, buying commercial properties in Delhi drills holes in wallet when it is compared to renting. So, in case you have low budget, renting would be a much better alternative. Before taking final decision, look for legal loopholes in property.
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