2010 Commonwealth Games Boost Delhi Ncr Property

The October 2010 Commonwealth Games in Delhi are expected to boost real estate development and property in Delhi NCR. Delhi NCR Property are currently getting a facelift because of the Commonwealth Games to be held in October 2010. Looking at the area of development, the Union Budget for 2009-10 raised the allocation of Commonwealth Games of Rs 2.112 million rupees to Rs 3.472 million rupees. So what does this mean for the future prospects of the city? It is simply a quick fix or will the city get long term benefits?

New Delhi Pragati Maidan’s 82 Asian Games gave the city a number of sports stadiums, flyovers and used the empty spaces in the heart of the city. CWG 2010 has focused primarily on the redevelopment of existing assets and the creation of a Games Village on the banks of river Yamuna.

However, unlike in previous games or events when only the National Capital Territory (NCT) of Delhi was the central theme, this time the Delhi NCR as a whole has been marked for infrastructure development across the whole year. Besides covering the whole of NCT, Delhi NCR is poured in Haryana and Uttar Pradesh and Rajasthan, to a lesser extent.

Hospitality in Delhi NCR

Currently, only Delhi houses the major world-class hotels in the whole of Delhi NCR. With hospitality industry in the city expected to gain enormously from the upcoming Games, Vohra says: "It is estimated that over 20,000 budget hotel-rooms have been added to the city's hospitality inventory. These include small hotels and guesthouses that have come up all over the city..According to market reports, Delhi is expecting over 1lakh visitors during the Games. The existing capacity of approximately 11,000 hotel rooms seemed inadequate to handle such a massive influx of visitors with an estimated demand for 30,000 hotel rooms in Delhi NCR.

The Commonwealth Games Village 2010 is an integrated residential project in Delhi. It spreads over 27 acres adjacent to the Akshardham temple, and within 10 minutes drive from Central Business District of Connaught Place. With nearly 4 million square feet of built area, the Commonwealth Games Village is a self-contained, premium residential community. The project will be distributed with 1,168 apartments in 34 towers. It offers 2 -, 3 to 4 - and 5 one-bedroom apartments ranging from 1,400 square meters to 3,500 square feet. Initially, the apartments will house athletes and officials during the Games, and will be then be sold to the public, pretty much like what happened with the Asiad Games Village in South Delhi after the 1982 Asian Games.

The infrastructure development taking place in and around Ghaziabad is attracting investor interest in the property market in the city. Many queries are coming. However, it remains to be seen whether these developments will take advantage of long-term benefits for the city and its inhabitants. At the end we can say property in Delhi NCR will boost by 2010 commonwealth games.

By: Madhuri Vats

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Madhuri Vats writes on behalf of Real Estate India Portal, which is a real estate portal and meet every aspect of the consumers needs in the real estate industry. It is a property website where buyers, sellers & brokers can post the property information.