Delhi in MetroPolitan Context
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.
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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.
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