Fast Growing, All EmbracingIyna Bort Caruso
New Delhi is multi-ethnic, multi-cultural and the power seat of India.
The technology, textile and electronic industries propel the economy of this fast-growing luxury market that’s matured through both urban planning and spontaneous development ever since Indian independence from British rule in 1947.
Much of New Delhi was laid out by British master architect Edwin Lutyens who designed the city around two central promenades early last century during the days of the British Raj.
The residential heart of New Delhi is the leafy Lutyens Bungalow Zone, built by prominent architects of the day to house government officials. Today the spacious residences in this heritage-designated zone ringed by greenery are considered trophy properties and command some of the highest real estate prices not only in India but in the world. For one thing, most are still owned by the government. The few homes in private hands rarely come to the market and when they do, they’re snapped up quickly. In addition, affluent buyers in this high density city jump at the chance to own a residence in a low density area. Sprawling homes in a capital where space is at a premium automatically signal wealth.
Beyond Lutyens Bungalow Zone are posh settlements like Golf Links, named for the nearby Delhi Golf Club. Golf Links, a gated colony of large homes, is a preferred address proximate to international schools and is a desirable destination for expats as well as diplomats, corporate executives and power brokers. Other enclaves that attract the eye of high net worth individuals are Jor Bagh, near Golf Links and diplomatic missions, and Shanti Niketan, a sought-after area favored by high profile executives. Those seeking large plots and garden views find it in Sunder Nagar and in Westend, a gated neighborhood of wide roads and green spaces.