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About East Delhi and Its Real Estate Market

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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 appartement te koop.

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.

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