As we all know that upcoming Commonwealth Games are going to be organized by our city i.e. Delhi. This will really make an impact on Real Estates whether it is Hotel Industry or the flats constructed by private builders or DDA. East Delhi will be more benefited among all other parts.
The DDA disclosed its sample hotel flat (s) for the Commonwealth Games 2010. The flats that are meant to buffer the shortage of accommodation for tourists that the city may face during the Games, has been handed over to the Ministry Of Tourism in March 2010. Furnishing these rooms at an estimated cost of about Rs 100 crores, there would be 2709 flats with 5009 rooms in Vasant Kunj ready before the Games. Flats in different categories are to be upgraded and furnished at par with three stars standard by the Indian Tourism Development Corporation. Besides Vasant Kunj flats, there are 330 flats at Jasola, which could be used for domestic budget travelers, supporting staff and volunteers of the Games. The tourism ministry is monitoring the requirement for accommodation for the forthcoming Commonwealth Games. The flats incidentally would be later sold off by the DDA as part of its housing scheme once the Games are over.
Apart from these facilities to buffer the shortage of rooms' government has launched a scheme for the people to register part of their residential property for paying guests on bed and breakfast basis. In East Delhi, prices of 2-room apartments have escalated from Rs. 20-40 lakhs to Rs. 40-75 lakhs. The countdown to the commonwealth games will see further dramatic changes in this part of Delhi.
Be it upcoming Commonwealth Games or the recently conducted sealing drive, everything today seems to make an impact on the real estate industry. There is simply no stopping of the rising prices as the rush of residential and commercial projects continue their rise ahead.
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