Tuesday, 14 July 2015

Delhi’s top localities having high property supply

Are you considering investing in Delhi? How are you choosing your investment destination? Do you have certain criterion in mind? These are some questions that should be answered before you make a choice. Magicbricks can help you choose your location by showing the existing property inventory in the areas, the budget range, and the amenities that tag along with the properties. You can also check for new as well as resale properties available in the city.

To begin with, find below the topmost locality in all regions of the city with highest residential inventory. We have picked Rohini Sector 10 in North, Krishna Nagar in East, Chittaranjan Park in South and Palam in West Delhi. You may check our exclusive heat map to explore other areas in Delhi which have a high supply of housing units.

Rohini is a popular residential location for both end-users and investors. Sectors 10 and 24 offer the highest supply of residential units which also makes it highly preferred by buyers and investors. What does Rohini offer? Rohini offers a mix of residential options for buyers from low and mid segment. The residential units available are on the resale market. The capital values depend upon the condition of apartments and the available amenities. The locality also offers Central Government Health Scheme and Delhi development Authority (CGHS & DDA) housing flats. The average capital value here starts from Rs 16,000 per sq ft. Click here to explore residential property options in Rohini.

Sector 10 is an old developed area in comparison to Sector 24 and is located in close proximity to business districts. The locality has a Japanese Park which is a major attraction among senior citizens and youngsters for taking walks and jogging. The Rohini West metro station is hardly 1km away from the locality. The Indira Gandhi International Airport is at 27km via Mahatama Gandhi Marg.

Delhi property supply map

Sector 24 in Rohini is also well-developed with improving social infrastructure. Sector 24 is 4km away from Sector 10 and is close to Rohini metro stations East and West. Buses are popular modes of transport to reach other parts of Delhi-NCR.

Average capital values in Sector 24 Rohini ranges from Rs 7,030 to 8,840 per sq ft. A 1BHK apartment is available in the price bracket of Rs 20 to 35 lakh in sizes from 400 to 500 sq ft. For a 2BHK apartment buyers would have to pay between Rs 25 lakh to Rs 1 crore with sizes ranging from 450 to 1000 sq ft.

In terms of connectivity, both Sectors 10 and 24 enjoy swift drive to Central Delhi via Mahatma Gandhi Marg and Outer Ring Road. Rohini West metro station is located at 5km and the Indira Gandhi International Airport is at 29 km via Mahatama Gandhi Marg.

What makes Krishna Nagar high on residential housing supply is the availability of well-maintained new developed homes. Earlier the area was suffering from traffic congestion but with redevelopment, the locality has turned out to be a highly favoured area among buyers and developers. The main market - Lal Quarter underwent a complete makeover a few years back which up-graded the living standards and eventually boosted the property prices. Krishna Nagar does not have new constructions. Existing buildings have been replaced by newly constructed three or more floors.

Average capital values in the area ranges from Rs 2,800 to 8,500 per sq ft. The cost of 1BHK apartment is within a price bracket of Rs 15 to 40 lakh in sizes from 400 to 500 sq ft. For a 2BHK apartment the buyers would have to pay between Rs 19 to 90 lakh with sizes ranging from 450 to 900 sq ft. These renovated or newly built apartments available are ready-to-move-in.

Krishna Nagar strategically shares its border with Preet Vihar, Geeta Colony and Vishwas Nagar in East Delhi. “Those who cannot afford to buy a house in the above mentioned areas have an option - Krishna Nagar, offering properties at a much affordable price,” says PS Kohli, proprietor, Kohli Associates.

The nearest metro station is at Preet Vihar and the locality is connected to other parts of East Delhi via the Bharat Singh and Patparganj Road. Other metro stations such as Nirman Vihar, Welcome, Shastri Park and Seelampur are few minutes’ drive away from Krishna Nagar. The Indira Gandhi International Airport is located at 23km distance via National Highway 8.

Chittaranjan Park, popularly known as CR Park, is an established locality in South Delhi. The locality is home to several eminent ex-government servants, teachers, professors, scholars and professionals from other sectors. Hitesh Kumar, a local real estate agent in the area says, “Majority properties available are on resale and many potential buyers are showing interest on these resale properties owing to the strategic location followed by its established social and physical infrastructure.”

Average capital values in the area range from Rs 14,260 to 18,230 per sq ft. The price of a 1BHK apartment is within the price bracket of Rs 12 lakh to Rs 1 crore with sizes varying from 400 to 1600 sq ft. The value of a 2BHK apartment starts from Rs 50 lakh and goes up to Rs 3 crore and above with sizes ranging from 500 to 1900 sq ft.

The Indira Gandhi International Airport is 17km (domestic) and 23km (international) from Chittaranjan Park and Nizamuddin Railway Station and New Delhi Railway Station at 9 and 16km distance. The nearest metro station is the Nehru Place station located within 1km from B-block in Chittaranjan Park.

If the budget meets your demands, you can choose properties in these residential areas. Owing a home in Delhi spells guaranteed monetary profits.

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