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Home Loan in Delhi

Fast Real estate growth in Delhi: Beneficiaries and Losers

During the last few years, real estate prices in Delhi have grown at a very fast rate. Growth has been fastest in the posh localities of Central and South Delhi, with some properties witnessing a three to four fold increase over the past 3-4 years. There was a recent case of a bungalow in Shanti Niketan (a posh locality in South Delhi), which was sold for a sum of Rs 170 Cr.

There have been multiple beneficiaries of fast real estate growth in Delhi:

Banks and Housing finance companies: These have come up with customer-friendly options for people to take home loans in Delhi. The ticket size for the home loans has gone up, in line with property prices, increasing their revenue realization per loan.

Owners with ancestral properties: People who had ancestral properties in posh or semi-posh areas of Delhi have taken home loans in Delhi(against their property) to redevelop their property, and create multiple floors which can be sold at astronomical rates. Others have gone into agreements with builders(instead of taking home loans) to redevelop their property.

Small time Builders: Many small time builders have sprung up to capitalize on the opportunity this offers. They have gotten into agreements with home owners to redevelop their properties, so that they can create multiple floors which can be sold at astronomical rates. Both the builder and the owner benefit financially, with payouts in the range of a few crores.

Builders/Investors in Gurgaon and Noida: Because of the high property prices in Delhi, other nearby centres such as Gurgaon and Noida have benefited since the property prices in these areas are relatively low, even though the infrastructure in these areas pales in comparison to what Delhi has. Home and home loan demand in these areas is consistently high, and has fuelled property speculation in these areas.

On the other hand, there have been some losers of high growth:

Middle class: The middle class has found it extremely difficult to own a home in Delhi, even after taking a home loan in Delhi, because none of the properties cost less than a crore, even for a simple 2 bedroom flat. Rents have kept pace with property prices, leaving them with no option but to exit Delhi and purchase a home in Gurgaon or Noida, where both owning a home and renting a home is much cheaper.

Private companies: Private companies which have leased out space for their operations have seen their rental expenses going up, since rentals track property prices. Most of these have either purchased their properties, or moved out to cheaper locations such as Gurgaon or Noida.

Taking a home loan in Delhi, Gurgaon, Noida or Faridabad is an easy option with Rupeewizard's home loan services, especially customized based on your requirements.

Rupeewizard has a tie-up with all major banks so as to give you the best option based on your needs.

Special Features:
- Lowest Home Loan Rates: Rates as low as 10.25%

- Free Expert Advice: Our panel of experts will guide you on your home loan and property investments, absolutely free

- Cash Back: Get upto Rs 50,000 cashback when you take a home loan with us

- Convenience: Document pick up to loan application, from the comfort of your home


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