Areas of Delhi
Narela is situated in the outskirts of Delhi and almost borders with Haryana State. It is mainly an Industrial area of the North West Delhi zone and is in close proximity with New Delhi and South of Sonipat. Narela Railway Station lies on the Delhi-Sonipat rail-track route that constitutes the 7th Railway Station of the Northern Railways.
Narela is a well established Industrial Area with very high prospects and boost to the real estate industry for residential property demands once this area sees a well connected transport link to the other parts of Delhi. It is approximately 12 Kms from Rohini and 3 Kms from Kundli, which are both known as excellent real estate destinations.
Narela has recently captured the interest of the real estate business of Delhi after the Delhi Development Authority or ‘DDA’ constructed a string of LIG Flats, MIG Flats and HIG Flats and sold them through a draw of lots. In fact, the overall property boom between 2007 and 2008 that led to an unparallel rise in the value of property across Delhi also impacted Narela to a high extent owing to the fact that people started looking for affordable property as they could not afford the sky rocketing property rates in the main areas of Delhi. Focus shifted towards small towns like Narela which could afford reasonable housing and private developers began to construct middle-class housing societies in this region. Post economic slowdown, the value of properties in this region has witnessed an incredible rise due to the high demand for affordable residential complexes which has in turn increased the demand for commercial property in this area.
Due to its commercial importance and Industrial influence, Narela never experiences any water shortage or electricity cuts, however the only drawback was the absence of well laid roads, proper transport facilities and connectivity to places in Delhi. This concern has been tactfully addressed by the Delhi Government with numerous infrastructure plans underway. The Delhi Development Authority is planning to extend the Metro link to Narela Sub City that will be completed by 2020 and will definitely benefit this area extensively.
A well planned 135-km long Kundli-Manesar-Palwal or ‘KMP’ Expressway project is also underway which is currently under construction by the Haryana State Industrial Development Corporation or ‘HSIDC’ in short. This road link will be known as one of the longest expressways in India that will open avenues for real estate development as well as transforming the adjoining areas into well established economic centres which will in turn benefit towns in the North West District of Delhi including Narela sub city.
In 2008, the Delhi Development Authority had launched numerous residential apartments and plots in Narela wherein allotment letters had been finalised and distributed in December 2009 while residential complexes financed by private developers are also underway that will overall contribute to the end user demand for affordable housing.
The Residential complex of Narela is divided into sectors ranging from ‘A-6’ to ‘A-14’ of which ‘A-5’, ‘A-6’, ‘A-8’ and ‘A-9’ are Plot areas measuring 32 square metres, 120 square metres and 334 square metres that cost anywhere between Rs. 20,000 and Rs. 41,000 per square metre. A One-Bedroom Multi-Storey Apartment covering an area of 396 square feet is available at a price of Rs. 12,00,000 while a Two-Bedroom Builder Floor covering an area of 960 square feet is available at a price range between Rs. 30,00,000 and Rs. 35,00,000 and a Three-Bedroom Builder Floor covering an area of 1,300 square feet to 1,500 square feet is available at a price range of Rs. 40,00,000 to Rs. 45,00,000.
The Narela Industrial Complex homes Top Industries such as the AK Auto Industry, Atlas Cycle Industries Limited and Micron Industries to name a few. It also homes Shivam Bazaar I & II that are well established retail complexes yet to make a name in the commercial sector of Delhi. Shops and Retail Units are available at a price range of Rs. 2,500 to Rs. 3,000 per square feet while the rental value is between Rs. 15.00 to Rs. 25.00 per square feet. Office space value is priced between Rs. 3,000 to Rs. 5,000 per square feet while the rental value is priced between Rs. 15.00 to Rs. 20.00 per square feet.
Today, Narela is known as one of the last upcoming localities within the main capital city of Delhi. The Indira Gandhi International Airport (DEL) is located approximately 53.7 Kms or 97 minutes away while the New Delhi Railway Station is 36.6 Kms or 63 minutes away and the Old Delhi Railway Station is 33.2 Kms or 57 minutes away. One can hire a taxi or auto rickshaw to arrive at destinations in / around and to / from Narela to other places in Delhi.