Delhiites started turning to Gurgaon and Noida when the housing space in Delhi became scarce. Houses and flats in posh localities in South Delhi went out of their financial reach. Gurgaon and Noida offered the same quality of elitist accommodation and environment that characterized South Delhi with the additional advantage of vast open spaces and green areas. With the advent of BPOs and other multinational companies, the residential real estate in Gurgaon and Noida, became all the more attractive.
Despite the proliferation of high end colonies, these cities have yet to provide the infrastructure, law and order and security that the Capital is known for. Gurgaon and Noida still remain the second choice, if only one can get the right type of accommodation in Delhi itself.
The 2010 Commonwealth Games are going to provide the high end housing opportunities that people have been looking for. The apartments and condominiums in Commonwealth Games Village will outshine the best designed flats and houses in Gurgaon and Noida. The developer of the Commonwealth Games Village will sell off these flats as prime residential accommodation after the games are over.
Commonwealth Games Village is expected to be the next hottest residential destination for those who can afford. According to the Delhi Development Authority sources, the minimum cost per square foot in these flats is expected to exceed Rs.12, 000. The actual price shall be decided by the market forces prevailing at that time.
The futuristic village will have Akshardham Temple as its backdrop. It will be well connected with the IGI Airport and the New Delhi Railway Station. According to the real estate consultants, this shall be the most sought after residential area in the region. The proposed Rs 1000 Crore East-West corridor will make New Delhi Railway Station, a 10 minute drive from the Games Village. A metro station will also come up close to the village.
The other residential areas, which can be compared with the Commonwealth Games Village, are being developed by DLF in Chanakyapuri and Greater Kailash Phase 1.
Deepak Bhavsar, president, consulting and land agency of a real estate firm said that the Games Village would have more advantages than the high end apartments in Ghaziabad and Noida. It would be very close to Connaught Place, the Central Business District of Delhi.
According to the DDA sources, these flats are being constructed with the specifications of the highest end. "The flats will have Italian marble floors, sauna, jacuzzi and modern kitchens with lighting and fixtures of the highest quality," says Shekhar Dey Chief Engineer in-charge of the Games Village.