Property in Delhi: Prices Bent towards the Higher Side of the Graph

Property in Delhi at Makaan.com

Delhi is notorious for its property prices, that usually cost a buyer an arm and leg. The per square feet rates in most of the localities are too high. Though we have been hearing about the price correction in some of the high-end colonies, yet the rates are still inordinate. Take, for instance , Chittaranjan Park or Gulmohar park. The psf(per square feet) rate in both the areas vary between Rs. 23000-26000/ sq. ft. Same is the story for Vasant Vihar(34000/sq.ft.), Panchshila Park(26000/sq. ft.), and Defence Colony(32000/sq.ft.), The values mentioned here are only approximate, but one thing is for sure. The rates have gone through the sky, and for a middle-class end-user, making a purchase has become a thing only to dream about.

If you are on the look out for a property in Delhi, you should be aware of the average rates prevalent in different parts of the city. While some have been mentioned above, they do not cover all.  Vasant Kunj, Vikaspuri, Patparganj, Rohini, Ajadpur, Pitampura, Saket, Shalimar Bagh, East of Kailash, Janakpuri, and Kalkaji are the areas where the rates remain above Rs.10000/ sq. ft. They vary anywhere between 11000-20000/sq. ft.  The localities that have average rates a bit lower can be found in Uttam Nagar, Aya Nagar, Mehrauli, and Dilshad Garden.

In the last quarter; i.e. Jul-Sep, the real estate prices have seen a good appreciation in many localities. Budget areas like Uttam Nagar and Aya Nagar underwent the escalation of 12% and 7% respectively. An approximate 2% increase on quarterly basis has been witnessed in Azadpur, East of Kailash, Saket, Greater Kailash, and Vasant Viahr. The drop down was observed in Dilshad Garden. Gulmohar Park, Vasant Kunj, Motinagar, Mayur Vihar, Hauz Khas, and Safdarjung Development Area. So end-users who are eying on buying a property in Delhi, investing their money in these areas can be a good decision.