Delhi, the capital of India is the main center of political activities in the country with important administrative blocks of the government having offices in Delhi.
New Delhi economy has seen a steady growth in the past few years with foreign investment taking place in Delhi coupled by the boom in sectors such as Real Estate, Information technology, ITES and Retail.
Delhi has transformed its image from being known only for the political activities and the capital of India. With the growth and development of the region in terms of infrastructure and foreign investment, Delhi is beckoning MNCs who find the city an ideal place to set up their offices.
Also, the growth of National Capital Region (NCR) has helped Delhi to expand its boundaries. Delhi has the infrastructure supporting smooth commuting between Delhi and NCR. Metro service within the city has improved the public transport in Delhi. Increase in shopping malls and commercial hubs within the city have changed the way people used to shop. Now you can meet your shopping needs under one roof with options available for recreation and dinning.
Real Estate in Delhi has seen a tremendous growth in the past few months with the construction of new residential and commercial properties. Sighting the upcoming Commonwealth games in 2010, Delhi is undergoing major infrastructural changes in the form of roads, bridges, transport system and hotels.
However, with the growth of Real Estate in Delhi, there has been a steep hike in the roperty prices of residential and commercial properties. Price of rental properties has also gone up. Given below is a breakdown of commercial property price in Delhi:
Commercial Property in Delhi: Rental prices of commercial property in Delhi range from Rs. 50 to Rs. 150 per square foot calculated on a monthly basis. Purchase price for a commercial property could range somewhere between Rs. 65000 per Square foot and Rs. 150000 per square foot.
Industrial Areas: You will need to pay Rs. 30 to Rs. 70 per square foot per month for possessing an industrial property on rent.
Commercial Areas in New Delhi
Commercial locations in New Delhi have been divided into two broad categories known as Central Business District (CBD) and Secondary Business District (SBD). Regions in and around the Connaught Place in Delhi is called the Central Business District or the CBD whereas SBD refers to Nehru Place in South Delhi.
Connaught Place is known for its historic importance and modern style of shopping. CP is in the heart of Delhi and it is the main business center with offices of banks, government establishments and corporates. Connaught Place has the advantage of being located at the center of Delhi and its proximity to other government offices and banks. However, Connaught Place faces some problems in terms of parking and maintenance of old buildings. With new plans of NDMC, Connaught place is expected to have a complete make over. Among the major companies having presence in Connaught Place include Citibank, ING Vysya, Lufthansa, Reliance, LIC, Air India, TV Today, Standard Chartered, HSBC Bank, Rolls Royce, BNP Paribas, Reuters, etc.
Coming to the Secondary Business District, that is the area in and around Nehru Place, we witness the main Computer hardware market which is the largest in Asia. However, it faces the same problem of increasing traffic congestion and parking woes. Commercial properties in Nehru Place include International Trade Tower, IFCI and GESCO. You can find offices of major Telecom and Pharmaceuticals companies of India. To name a few companies, we have Turner International, Ranbaxy, British Telecom, Chambal Fertilisers, etc.