Is Narela Another Dwarka In Making?

As a newcomer to Delhi, 10 years ago, buying a property in Dwarka meant my budget was certainly low. If you did not have your own vehicle, there were not many options to commute. The metro network was yet to penetrate the far off areas in that suburb; DTC buses did not frequent it either. If I took an auto, the driver would ask for what seemed like a share in my property to do the job. Today, if I plan to buy a home in Dwarka, having a low budget is not an option anymore.
This is just an example how fast the real estate sector actually progresses in suburbs. And if this works fine, Narela, a former unassuming suburb in Delhi's northwest, could be a great bet for home buyers. Narela has caught investors' attention over the past five years, resulting in a complete transformation of the place — from an underdeveloped place with a few far-flung villages to a real option for affordable real estate investment.

The location
A few kilometers from Rohini and Kundli, Narela was an authorised industrial area, which the Delhi Development Authority (DDA) developed along the lines of Dwarka. It lies close to NH-1 and AH-2, which connect Sonepat and adjacent areas of Haryana directly to the Delhi-NCR. While being part of Delhi-NCR, Narela did not have to worry about the water or electricity supply, improving road infrastructure remained a concern. There was also a need to increase public transport and connectivity by upping the number of buses plying in the area. The Metro Railway connectivity has solved this problem to a great extent. With that, Narela has been seeing a lot of growth in the residential and commercial markets over the past decade or so.

Status at present

The residential properties in Narela are targeted to meet the requirements of those looking for affordable homes. At present, apartments for sale in Narela comprise of those made by the DDA. These include Janta flats of 200-400 sq ft, LIG (low-income group) flats of 300-450 sq ft and MIG (middle-income group) flats of 850-900 sq ft. While the Janta flats are available for Rs 7-11 lakh, LIG flats would cost Rs 20-25 lakh, and MIG ones would come at around Rs 40-45 lakh. Some developers also sell 1BHK flats here in the Rs 10-35 lakh bracket. Property prices are quite low here so far, given an incomplete infrastructure. This is one of the reasons that most of the properties are still unoccupied. The DDA expects a good appreciation over the next few years, once the infrastructure is in place.

Future potential

With a potential for future growth, riding on the ever-increasing demand for the property in Delhi, the DDA has added the Zone P1 (Narela falls under this zone) in the Master Plan 2021. This will not only help the authorities to track development activities here but also provide huge opportunities for those involved in residential projects.
The Delhi Metro Rail Corporation (DMRC) has also added Narela in the survey list for line extension from Kutubgarh to Kundli, this may give the area another shot in the arm. Another scoring point for Narela are the open green spaces, a pleasant change from the cramped quarters in Delhi. While there are small local markets to cater to necessities, there is also scope for retail outlets.