Delhi has been one of the leading business hubs in India. Being one of the major cities of India, Delhi has always been a center of attraction for tourists and business travelers from all across the country. The capital city of India is located on the banks of river Yamuna. It is also the capital of numerous South Asian countries including Bangladesh, Pakistan and India. Tourists and visitors to other parts of the country visit Delhi for enjoying some of the most amazing tourist attractions.
Delhi has witnessed tremendous growth in the last few years. The capital city of India has seen a sharp rise in its development as various government plans are implemented for the betterment of the state. For instance, the New Delhi Development Zone has been created to accommodate the rapid influx of people into the city. The state also sees numerous developments taking place on the lines of better infrastructure, improved transport system and better healthcare facilities.
As per the latest development reports, Delhi has registered an increase of about 45 % in the commercial real estate market over the past five years. The best part is that the commercial property rates have been further reducing in the same period of time. This huge inflow of commercial properties will help the state to attain a greater degree of growth in the coming years.
The major drivers of the Delhi economic growth are: the liberalization policies of the federal government, liberalization measures taken by the central government and rise in demand for commercial properties in the city. The opening of the aviation sector in the state has also resulted in an inflow of investments in the city. Several airlines have come up in the state including Spicejet, Jetlite, Kingfisher and Goair. Airlines have reduced the cost of air travel to Delhi. So, people can easily take flights to Delhi and experience the delightful experience of visiting the world famous city of India.
On the other hand, construction companies have also shown renewed interest in the state. Particularly, in the areas around Delhi such as Gurgaon, Noida, Greater Kailash, Udyog Vihar, South Extension and Colaba. There has been a notable increase in the demand for office space in the metro cities. Business is picking up in the region and the major corporate players are now setting up their bases in this part of the country. To ensure that the investors have enough scope to make profit, the state government is . . . . . . providing subsidies and tax cuts to help them in establishing new establishments in the region.
A major reason behind the Delhi economic scenario is the presence of several large malls and big retail chains spread out in different areas. These malls are contributing in the urban growth of the capital and they have attracted a number of people to Delhi. This trend has seen the emergence of several corporate houses, business houses and high end business houses from all across the country to establish their headquarters in the capital city of the country. As per the forecasts, the Delhi's economic growth is expected to touch the sky heights in the next few years.