Delhi's real estate market is one of the most active markets in India. The city is the political, social, cultural hub of India and thus attracts job seekers, professionals, entrepreneurs from all over the country. This continuous influx of migrant population depends on the city's infrastructure and drives Delhi's property values too.
The prime residential areas of Delhi like Jor Bagh, Safdarjung Enclave, Defence Colony, Sainik Farms, Model Colony, Panjabi Bagh, Greater Kailash and New Friends Colony are totally choked. The property prices in these areas have always been way ahead of the other areas.
The present property value for Golf Links is estimated to be 15000 - 25000 Rs/ sq ft. The capital value for builder flat in New Friends Colony is 6500-800 Rs/ sq ft. Not a single patch of land is available in these areas.
The land here was allocated as individual plots which were taken up by industrialists, entrepreneurs and politicians. These people have built huge, palatial buildings for residential purposes. Sub-letting and renting of property happens in these areas but is again at sky-rocketing prices. Sample this, a 2BHK apartment in New Friends Colony is being rented at Rs 30000 - 45000 per month.
Other areas of Delhi like Sriniwas Puri, Mayur Vihar, Kingsway Camp, Dwarka, Narela, Paschim Vihar are affordable. The plot value in Kingsway Camp is 90000 - 130000 Rs/ sq yard and rental rates are approximately Rs 6000 - 8000 per month. These areas are the house for most of the migrant populations. All sorts of residential renting and leasing happens in these areas. One can find serviced apartments, paying guests, rest houses easily in these areas.
As a thumb rule, any property in Delhi's central and southern part will be little expensive. These areas have very good connectivity by roads. Very soon, a Metro link will join south Delhi to Gurgaon. These localities have the best retail and commercial spaces. Global biggies like Tommy Hilfiger, Georgio Armani and Mango have their outlets in this part of the city.
Hence, the property values here are always on the rise. One the contrary, property prices in north Delhi is little stable. Areas like Narela, Burari are near Haryana. Hence many companies have their warehouses and industrial units there. The connectivity to north Delhi, beyond the University area, isn't all that good. Hence the property prices there are high but not as high as Central Delhi or South Delhi.
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