Saket And Vasant Kunj Is South Delhis Major Real Estate Destinations

South Delhi has two major real estate destinations that were primarily residential in nature but took on a distinctly commercial flavor recently, thanks to a large land auction in early 2000 by DDA.

Vasant Kunj and Saket were both considered premium residential areas with a large number of residential options. However, with clusters of premium retail malls developing here, both Vasant Kunj and Saket have evolved as major retail destinations. The affluent residential populace in the region has led to a high-profile positioning for the malls and a healthy rate of footfalls. Both areas are also on the Delhi-Gurgaon Metro link and are expected to see an enhancement in the number of footfalls to its retail malls.

Vasant Kunj

Vasant Kunj has always been an indemand locality of South Delhi with values remaining high. It has always benefited from good infrastructure and ambience. Its proximity to the commercial hub of Gurgaon and the airport, as well as being at sniffing distance with one of South Delhi’s most affluent plotted areas -Vasant Vihar – has resulted in a sustained positive real estate outlook.

Vasant Kunj has rapidly grown as a commercial hub. With the DDA auctioning land in the area for mall development, it has also become a retail hub now. Malls like DLF’s Emporio and the Ambi Mall, under construction by Ambience Developers Pvt Ltd; Vasant Square Mall by Suncity and DLF’s Promenade or Palace, offers ample shopping options to customers. There is something for each type of buyer. Demand for office space here has also increased in the past few months. Values are either stable or have seen minor changes.

Being the upscale locality of South Delhi, property values have always been high. There has been an increase in the rate of transactions since August 2009 and values have increased by 15% since November 2009.

It is centrally located with good infrastructure and transport facilities. The commissioning of the Delhi Metro rail’s Gurgaon link will enhance its connectivity from end-January 2010. This is expected to further enhance footfalls in retail malls here. Since many malls are expected to be ready by this time, it may well compete with Gurgaon as a retail hub. Local brokers are also expecting a hike in real estate values in the future.

Saket real estate segment

Saket is the other destination in South Delhi that has rapidly evolved as a commercial hub. With a cluster of retail and office spaces coming up in the community centre area it has emerged as one of the most expensive shopping and entertainment centers of South Delhi.

Saket has a large bank of residential populace of its own, besides being in close proximity to densely populated areas like Malviya Nagar, Sheikh Sarai, etc. Therefore, malls like Select City Walk, MGF Metropolis, The Square One Mall, The Courtyard Mall, all within the same complex, have opened multiple shopping options for visitors. Investors also prefer malls compared to local shopping complexes. Rajeev Goel of Comtel Association, a local realtor, says: “Retail values have increased by 20-25% since 2008. In late 2008 and 2009, due to the economic slowdown, investors were moving out of malls. But, now, the situation has improved and retailers prefer malls to local markets. It has not only drawn visitors from South Delhi, but also NCR, like Gurgaon, Faridabad and Noida.”

An interesting result of the cluster of new retail developments is the drop in footfalls in Anupam PVR complex, both in the multiplex as well as the shopping complex.

Residential market has also improved in terms of transactions and values. Due to its proximity to Gurgaon and Faridabad, and also owing to the soon-to-open Delhi Metro station in the locality, residential real estate values have received a boost. The value of residential apartments and builder floors has risen by 15% and plot values by 15-20%. Apartment rental values have remained stable since November 2009.

Delhi Property – 16th Most Expensive Real Estate Market Of The World

Delhi, the capital of India, has been the real hotspot in the real estate industry in the country. In recent years, Delhi property market is growing at a phenomenal rate due to great improvement in the transport system, expansion plan of 65 km- long Delhi Metro Rail and the commencement of 2010 Commonwealth Games in the capital. A real estate consultancy has rated recently New Delhi as the 16th most expensive real estate market of the world and the costliest retail destination in India. The demand for real estate development is expected to remain robust across Delhi property market due to huge demand from IT/ITES sector.

Residential Real estate
Delhi residential real estate market segment is growing exponentially because of huge demand for housing from IT/ITES and foreign diplomats. South Delhi is the most happening residential place in Delhi property market and the rental values of residential properties like the flats, villas and duplex houses are extremely at higher end.

Commercial Real Estate
The leading retail brands in Delhi property estate market has generated huge demand for commercial space in the city because of its large format retailing and burgeoning demand from IT/ITES segment as well.

New Delhi commercial market space is broadly classified into:
Central Business District Connaught Place
Secondary Business District Nehru Place & Bhikaji Cama Place in South Delhi
Peripheral Business District Jasola, Saket & Noida.
Some of the major transactions in Delhi property market are:

Central Business District
Ministry of Finance 15,700 sq.ft.
Edelweiss 13,500 sq.ft.
Maquaire 7,000 sq.ft.
Atlanta 20,000 sq.ft

Secondary Business District

Nehru Place
Sunflag 3,500 sq.ft.
Jasola

Porsche 14,000 sq.ft.
Sapient 22,000 sq.ft.
Hansgrohe 23,000 sq.ft.
Juniper Networks 8,000 sq.ft.

Saket
ICICI Prudential 10,000 sq.ft.

Peripheral Business District
Gurgaon
LI & Fung 200,000 sq.ft.
Deloitte 70,000 sq.ft.
Ericsson 70,000 sq.ft.
Kyocera -12,000 sq.ft.
Fujifilm – 10,000 sq.ft
Noida
Accenture – 2,00,000 sq.ft
Sapient – 2,00,000 sq.ft
Amway 26,000 sq.ft

Conclusion
Thus, Delhi is a preferred place for investors worldwide and the city is a significant destination for leading MNCs, IT/ITES companies and corporate pouring lot of investments that in turn creating a hue demand for commercial real estate space in Delhi property market.

According to industry survey, Delhi real estate is considered to touch greater heights in the hospitality sector with 27 new hotels and serviced apartments with more than 4900 rooms in the next 3-4 years. And, the other interesting and fascination information is that Delhi real estate is expected to touch minimum hundred shopping malls by end of 2010 due to burgeoning retail space demand in Delhi real estate market.

Indirapuram- A Lucrative And Viable Real Estate Investment Option

Upsurge In Indirapuram Real Estate

In the present times, real estate of Indirapuram has lured the prominent housing companies like Ashiana, Gaur Builders, Assotech and several others, with an aim to take on high-class construction projects in Indirapuram. Many say that real estate value reflects the development status of any city; the extraordinary increase in real estate and property development in Indirapuram has enabled a swift development of infrastructure and commercial landscape in the area, which otherwise went unnoticed until recently.

Reason For Rise In Property Value

Currently real estate prices in Indirapuram have soared high and it is projected to escalate even further, thus those inclined to make property investment Indirapuram could be a favored hunting ground. The prime factor as to why Indirapuram properties have gained so much positive reception is its enhanced connectivity with the commercial centers in the capital city Delhi, South Delhi and Noida.

Pointers Indicate Investment In Indirapuram Property Is Lucrative Option

An estimated 90 real estate development projects are being carried out, owing to the fast paced construction process 66 projects have been completed and another 24 are under construction. The projected occupancy rate is 72%, totaling up to 26,394 flats approximately, with prices for the apartments ranging between Rs. 1900-4200 per square feet.
Yet another reason why Indirapuram property has got a tremendous boost is that many people are eager to buy / rent property in Ghaziabad region primarily to evade the hassle of paying much high prices in Delhi and also to get pleasure from living away from the chaos and commotion of a metropolitan; yet be residing in close proximity to the National capital for functional benefits.

Undoubtedly Indirapuram real estate have opened gateways for a new lucrative investment alternatives for all who are interested in making profits through real estate, keeping the development of this new trend in view the Ghaziabad Development Authority is also undertaking many important step to further boost the growth of real estate sector in Indirapuram.

Commercial Property Has Also Got A Boost

An interesting development that has taken place in the recent times is the boost that commercial property in Indirapuram has received. This has been triggered with the mushrooming of large number of malls, shopping complexes and multiplexes in and around Indirapuram, thus, alongside residential property commercial property got a platform for development.

Additionally, based on the developments taking place in both residential and commercial real estate of Indirapuram, large number of property dealers, real estate agents and building contractors are finding numerous opportunity to earn handsome revenues, as those who want to invest in property in these areas seek their assistance for carrying out the transactions.