By innovative | 13 Dec, 2020
Delhi, the national capital of the country, is a hub of real estate investments. This is because firstly there is ample amount of space in terms of area. When it comes to residential housing, more and more people look forward to staying in Delhi due to the state's different amenities. Over the years, massive residential projects have come up in the capital, as the need is rising. Due to the COVID-19 pandemic, the construction work had stopped, but with everything getting back on track, the capital witnessed the new products' emergence.
The Reality Developers DLF and the sovereign wealth fund GIC as a joint venture are all ready to develop the 8 million sq. feet of a high residential tower in Moti Nagar, which comes under the Central Delhi area. The project is enormous, and the revenue expectations are somewhere about 12,000 – 15000 Crores. The joint venture between Reality Developers DLF and sovereign wealth fund will be operating over 32 million square feet of office space. The first time will the joint venture lead to a residential complex.
The entire plan is divided into phases. As per the first plan, the company will be developing two million sq. ft. Ashok Tyagi is the Director of DLF. A pipeline of 35 million square feet will be spread across different segments covering both premium and luxury. The joint partnership plans to launch new products of 2 million square feet by the mid of 2022. In quarter one, the plan is to build City floors and plot, and in quarter four, the plan is to build one midtown.
Currently, the global index released its results as per toch, Delhi ranked 27th, which implies the luxury residential properties' annual appreciation. This was a report which was reported by Knight Frank, a property consultant.
The upcoming property of DLF is located in Midtown West, Shivaji Marg, Moti Nagar. It will be a premium residential property, which means that the rates will be high comparatively.
The property will come up with multiple amenities such as a premium clubhouse with a restaurant, library, salon, multipurpose hall, etc.
The best about the project is its location advantage. Moti Nagar is one of the prime locations, which is a part of central Delhi. The lush green area is a calm one, and the area is vast. The residents will not have to worry about the parking space or waiting space, as there will be ample area around for personalized parking. The residential area also has parks for multiple purposes, including children's parks, football grounds, etc. Both indoor and outdoor sports are prioritized with multiple sports courts such as basketball courts, tennis courts, etc.
Hence, even the security aspect has been taken care of properly, so one does not need to worry about security especially if they have small children. Proper automated tools are used for keeping intact the security.
Overall, the joint venture will undoubtedly come up with something very luxurious and full of amenities for the residents.