Young Delhi Seems To Be On The Forefront To Buy The Home Of Their Dreams, Here's Why

It is predicted that the Delhi-NCR real estate market will experience significant growth in 2023. With emerging trends gaining momentum, Delhi, Gurgaon, Noida, and surrounding areas have a promising future. The popularity and reliability of real estate are evident from the fact that 40% of people in Delhi-NCR consider it the most favorable investment option.

According to a market survey conducted on potential real estate buyers in Delhi-NCR, the real estate market in Delhi neighborhoods is seen to experience significant growth that may exceed expectations. The positive mood among home buyers tells a lot about the health of the real estate sector in this region. Furthermore, the strong trajectory of economic growth on the back of several factors, such as stable prices, taming inflation, stable interest rates, favorable demographics, and an increase in foreign investment also helps the residential market.

The Delhi-NCR buyers are showing a preference for real estate as a way to achieve a fulfilling and healthy lifestyle, as the world prepares to return to a period of rapid growth. The survey indicates that a significant number of potential buyers have expressed their readiness to initiate the process of purchasing their first home. Many homeowners expressed their desire to upgrade to larger and more luxurious homes. The responses suggest that there is a growing group of people who prioritize real estate buying and investment as a crucial aspect of their long-term financial security.

The survey revealed that the millennial population is a significant contributor to the expanding real estate market in Delhi-NCR. The demand for both residential and commercial real estate is led by individuals in the age group of 30-44 years. According to the survey results, more than 70% of its respondents plan to purchase a home in the best neighborhoods of Delhi within the next few years.

The demand for residential properties exceeds commercial ones, with 45 percent of respondents looking to pick up residential, and 35 percent looking at tapping into commercial spaces. According to the survey results, approximately 46% of its participants expressed their intention to purchase their first homes within the next two years. Nearly 30% of individuals plan to upgrade from their current homes to larger and more luxurious spaces that offer additional lifestyle and wellness amenities. 65% of people looking for a home prefer either a 2 or 3 BHK option, indicating a high demand for these types of properties.

Top New Delhi Neighborhoods To Invest In If You Are Looking To Buy Your Ideal Home

Have you heard of North Delhi's Model Town and Mukherjee Nagar? Because these are two of North Delhi's most prominent neighborhoods. Mukherjee Nagar is dominated by IAS, banking, and other coaching institutes. Because of this reason, the region is populated primarily by Delhi University (DU) students and aspirants preparing for government competitive examinations. These two localities are best suited for young aspirants, as they are home to numerous local markets, cafes, and restaurants.

In addition, these areas are well-served by the GTB Nagar and Model Town Metro Stations, which are about one kilometer apart. A proposed elevated tunnel road at Signature Bridge, four kilometers from Mukherjee Nagar, would enhance connectivity to Indira Gandhi International (IGI) Airport. Consequently, the attractiveness index of these areas is enhanced by their excellent connectivity and abundance of social amenities, making them among the most desirable places to reside in Delhi.

Malviya Nagar, Saket, and Vasant Kunj are some of the most desirable Delhi neighborhoods for professionals working in South Delhi and Gurgaon. This is largely due to the seamless road and metro connectivity offered by these areas. In addition, they have a well-developed social infrastructure that includes schools, multispecialty hospitals, restaurants, upscale malls, retail outlets, and shopping centers.

In addition to housing numerous commercial establishments and entertainment zones, these areas are among the safest in Delhi and provide residents with a secure environment. These locales have an active housing market, with single-family detached homes and builder floor units comprising majorly of the available properties. 2 BHK and 3 BHK apartments remain the most popular configurations.

Mayur Vihar is considered to be one of the happening neighborhoods in East Delhi, with a number of housing colonies developed in multiple phases by the Delhi Development Authority (DDA). It is the perfect place for young people who work in Noida or Central Delhi but prefer locations that are more decently priced than in the majority of Central Delhi and Noida.

There is no lack of conveniences, as there are markets, grocery stores, schools, and institutions in the area. Since the inception of metro services in this region of Delhi, property values have risen significantly. In addition to Mayur Vihar, Laxmi Nagar is also East Delhi's finest residential area. Laxmi Nagar is regarded as the commercial center of East Delhi and attracts many young job-seekers.

Janakpuri and Uttam Nagar are the most desirable West Delhi neighborhoods due to their established infrastructure and accessibility via the Blue Line of the Delhi metro. Uttam Nagar is an affordable micro market with a large inventory of Low-Income Group (LIG) DDA flats and 2 BHK units in builder floors, whereas Janakpuri is an upscale commercial hub in Delhi.

So, if you are one of the aspiring home buyers, looking to buy your dream home in Delhi then look no further as you've got the finest solution to your home buying search- Dwello