Chandni Chowk Delhi: Markets, Tourist Attractions, and Revitalization

Chandni Chowk, the bustling heart of Delhi, is a treasure trove of diverse experiences. From opulent wedding attire reminiscent of Sabyasachi and Manish Malhotra to aromatic spices and cutting-edge electronics, Chandni Chowk offers it all. Whether you're a seasoned shopper or new to the area, this guide will introduce you to the magic of Chandni Chowk while also shedding light on the impact of its recent redevelopment on the real estate scene.

Impact of Chandni Chowk's Redevelopment on Real Estate Growth

Chandni Chowk's rejuvenation has sparked a wave of interest among real estate investors. The market's revival has not only restored its former glory as India's most renowned commercial hub but also created a favorable environment for real estate investment. For years, this locality grappled with overhead wires, aging structures, dilapidated roads, congested pathways, and relentless traffic jams. However, the market's new facelift is set to attract a new wave of commercial investors.

One of the compelling reasons to invest in Chandni Chowk is the exceptional blend of high returns and low risks it offers to investors. Reports indicate that commercial property rentals witnessed a staggering 32% year-on-year increase, reaching 4.39 million sq. ft. in the April-June period of 2022. In the coming years, Chandni Chowk is poised to welcome around 40 lakh discerning shoppers.

The Omaxe Group, recognizing the potential of this transformed landscape, has launched Omaxe Chowk, one of Asia's largest wholesale markets. Strategically located near Chandni Chowk Metro Station, this multi-level space offers commercial shops starting at Rs 65 lakh, with a minimum size of 550 sq ft.

History of Chandni Chowk

Chandni Chowk, situated in Old Delhi or Purani Dilli, holds a storied past. Constructed in the 17th century by Mughal Emperor Shah Jahan, it was originally known as Moonlight Square. The market was designed by Jahan Ara Begum, Shah Jahan's beloved daughter. Chandni Chowk was initially shaped like a half-moon square, with the moon's reflection glistening in the adjacent water pool, situated in front of the Town Hall. This pool remained near the clock tower until the 1950s.

In its early days, the market gained fame as a hub for silver traders, drawing merchants from various corners of the world, including China, Denver, Turkey, and more. This historical association is why Chandni Chowk is sometimes referred to as 'Silver Street' in English.

Must-Visit Attractions Near Chandni Chowk

While Chandni Chowk is renowned for its shopping offerings, it's also home to several iconic attractions:

1. Red Fort (Lal Qila): Located near Chandni Chowk, the Red Fort served as the primary residence for Mughal Emperors. Its construction commenced in 1638 when Shah Jahan decided to shift his capital from Agra to Delhi.

2. Urdu Park (Lahori Gate): Situated between Jama Masjid and Gurdwara Sis Ganj Sahib, this lush green park provides space for local professionals like masseuses, ear cleaners, and head massagers to offer their services to visitors.

3. Jama Masjid (Masjid-i Jehan-Numa): One of India's oldest and largest mosques, it can accommodate 25,000 devotees in its courtyard. Shah Jahan built this mosque in 1656, just 200 meters from Chandni Chowk.

4. Sri Digambar Jain Lal Mandir: Opposite the Red Fort, this is the oldest Jain temple in Delhi, dedicated to the 23rd Tirthankara, Parshvanath. It is known for its red sandstone construction.

5. Gurudwara Sis Ganj Sahib: One of the nine historical gurudwaras in the country, established in 1783 by Baghel Singh to commemorate the martyrdom of Guru Teg Bahadur. It is open 24/7 and offers langar.