India’s leading real-estate firm Omaxe is undertaking a re-development project in Chandni Chowk. The project is under the PPP model with North MCD and is being monitored by Delhi High Court. This is probably the only major commercial development in centuries in Chandni Chowk and the demand for commercial property in Delhi is so huge that Omaxe Chowk will bridge that gap.
Omaxe Chowk will bridge the supply-demand gap of commercial space in Chandni Chowk.
The project, once completed will take care of most of the issues plaguing Chandni Chowk, pedestrian friendly ambience, streamlined utilities and amenities such as public toilets and drinking water facilities for visitors. This commercial property not only gives the local shopkeepers an opportunity to expand and organize their business but also aspirational businesses across India with a dream to own a commercial space in Asia’s largest wholesale and retail hub.
With the re-development, things are expected to change for the better. Also, plans are afoot to develop India’s largest food court right here in Chandni Chowk. Envisaged to deliver a modern yet authentic gali experience, the food court once operational will be a pilgrimage for true foodies and a must experience for everyone else.
The commercial property in Delhi NCR goes through a cycle of rise, stagnancy and decline. This phenomenon has been seen across several places in Delhi, Noida, Gurgaon etc. Omaxe Chowk has no competition in the vicinity and thus will not grapple with cycle of mall phenomenon.
Omaxe Chowk will not grapple with the Cycle of Malls phenomenon
Here’s 5 reasons why booking commercial space in Omaxe Chowk is a good idea:
- Omaxe Chowk is the first major commercial development in Chandni Chowk in 300 years
- Omaxe Chowk is a multi-level parking cum commercial development in a high footfall market, thereby providing access to lakhs of captive shoppers.
- One full floor is reserved for F&B which will bring all the famous delicacies of Chandni Chowk and cuisines from around the world under one roof. There will also be two levels of dedicated space for retail and five levels of parking.
- The revamped traffic circulation plan as part of the re-development of the area puts Omaxe Chowk as the gateway of Chandni Chowk, accessibly by metro, road, and even rail.
- With constraints taken care of the market will now be capable of operating at full capacity. Reports by Walmart in 2014 said that the market could cross $700 billion by 2020.
The chaos at present is enough to deter anyone other than the more determined patrons from making a trip to the market. The choc-a-bloc traffic, lack of public facilities, acute lack of parking space etc will be a thing of the past once Omaxe Chowk becomes operational. Now, is the perfect time to invest in the area.
