East Delhi comprises of localities like Anand Vihar, Dilshad
Colony, Indirapuram, Lakshmi Nagar, Mayur Vihar, Patparganj, Shahdara,
Vivek Vihar and various others. It is bordered by Uttar Pradesh regions
of Noida and Ghaziabad. There was a time when East Delhi was considered
to be the most underdeveloped region of Delhi, inhabited only by members
of the low-income group. But today, due to constant efforts of State
government, the whole eastern region of Delhi has been transformed into a
decent and developed area. The beliefs have changed and property market
of East Delhi is now among the sought after destinations.
Just
few years back, no one even considered buying property or investing in
real estate market of East Delhi. It offered none of the basic
facilities of quality education, healthcare facilities, entertainment
zones, etc. making it the least preferred residential area. But gone are
the days when it was known for its clumsy visage and overshadowed
buildings. Rapid development of East Delhi has led to creation of better
roads, well established residential and commercial spaces, shopping
malls and temples.
It has seen immense development in last three
years with number of multiplexes, malls, amusement parks, entertainment
zones, township projects, etc coming up. East Delhi has now established
its presence and is counted with regions like Ghaziabad, Noida and
Greater Noida. Akshardham, Sanjay Lake, Uttara Guruvayur Temple, Gandhi
Nagar and Laxmi Nagar Markets are some of the main attractions in and
around East Delhi. These places hold high importance as they help
encourage tourism in the region. Such developments have uplifted the
overall standard of living and will continue to do so in the coming
years.
The property prices in East Delhi have doubled and even
trebled in just a matter of few years as leading property developers are
eyeing them. Real estate developers feel that this surge in East Delhi
property was expected due to the rapid development of Tier-II cities
across India. The increasing economic potential of this Trans Yamuna
area is now acknowledged by corporates and property developers. With the
aim of building social infrastructure and good living, large numbers of
schools and hospitals, shopping malls, family entertainment centres,
etc are being constructed. In fact, one of the largest malls in India,
Shipra Mall is located in Indirapuram, developed by Shipra Group.
Various houses, apartments, offices, shops, etc are also being opened up
in both residential and commercial sectors.
One of the reasons
for its increasing popularity and growth in real estate demand is its
proximity to most of the important places and cultural centres,
particularly in Central Delhi and New Delhi. With the new Metro route
connecting eastern suburb of the capital to rest of the Delhi, property
prices are all set to reach a higher magnitude.
Delhi's Chief
Minister, Sheila Dikshit has inaugurated four new road projects barely a
month ago. This project of Rs. 412 crores includes flyovers, a bridge
and an underpass. Further plans aim at rehabilitating slum dwellers of
at least 1700 slums by providing them with more than 4 lakh flats. In
addition to this, the government plans to build second Bus Rapid Transit
(BRT) corridor in East Delhi between Karawal Nagar and Shastri Nagar.
Moreover,
projects like residential complex Antriksh Greens, the Akshardham
temple complex, construction of the Commonwealth Games Village and the
proposed cultural centre on the lines of the India Habitat Centre are
surely going to take property prices to new heights. The demand for
property in East Delhi has grown so high that there is a crunch and
market is blocked. Real estate agents express concerns over no
properties being available for sale, the only hope comes from renting
needs. The constant flourishing of property demand suffices to exhibit
the growing value of the new hotspot, East Delhi.
Deepika B writes on behalf of 99acres.com, which is an internet
portal dedicated to meet every aspect of the consumers needs in the real
estate industry. It is a forum where buyers, sellers and brokers can
exchange information. At 99 acres, you can advertise a property in India, search for a property, browse through East Delhi Real Estate & Properties.
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