Janakpuri rental market flourishes with luxury units Meticulously planned, Janakpuri is one of the oldest residential areas of West Delhi. Also known as the ‘colony of parks’, it is considered as a homeowners delight with well connected road networks and adequate open space. Connectivity: Janakpuri is easily accessible with two metro stations, namely, Janakpuri West and Janakpuri East both onBlue Line of Delhi Metro. Also, there is frequent bus service connecting other parts of the city. With good connectivity, Janakpuri has sought an astounding residential development in the city. And construction of ORR (Outer Ring Road) further enhanced the accessibility of the area from IGI Airport through NH-8. At present, the capital values are in the range of Rs 7,000-11,000 per sq. ft. Residential market: The area has mostly villas, private houses and DDA apartments with utmost demand for private houses and villas priced in the range of Rs 3-5 crores. As CommonFloor’s data, the average rental values are in the range of Rs 20,000-to-22,000 per month for apartments and Rs 15,000-to-18,500 per month for independent houses while builder floors cost between Rs 25,000-to-27,000 per month. Detailed trend can be seen in the table below.
Social infrastructure: Along with residential development, the area also witnessed good amount of commercial development with at least a shopping centre for each block in the region.
There is balanced development of infrastructure facilities such as banks, schools and hospitals observed in the locality along with residential development. Popular educational institutes such as Kendriya Vidyalaya, Modern Era and Lawrence Public School have increased the demand for housing in Janakpuri. Future prospects: Janakpuri’s future prospects seem quite vibrant with a new landmark Delhi Haat being constructed in the area. Also, the approval for sports complex near Vidya Park will further add to the liveability factor of the area. All these are expected to boost the realty market of the Janakpuri in the times to come. Source: CommonFloor.com For Latest Updates on Real Estate Updates, Property News and Cities Infrastructure Developments Visit: http://www.commonfloor.com/guide
Copyright Š 2007-14 CommonFloor.com. All rights reserved.