If you are planning to buy a reasonable flat in Delhi and prefer South Delhi, which is considered posh, than the locality of Kalkaji can be a good option. The property rates in Kalkaji are sound as compared to other areas in South Delhi and likeable properties are easy to find too. This locality is also considered posh but due to over commercialization of the space, those who want peaceful and serene surroundings do not buy houses here. But the flip side of the coin is that, as it houses many offices and commercial spaces, Kalkaji offers a lot of opportunities for those seeking jobs.
The colony of Kalkaji derives its name from the world famous Kalkaji Mandir, which is one of the ancient and most, revered temples of India. Considered as a ‘Jayanti Peetha’ or ‘Manokamna Peetha’, the temple is dedicated to the goddess Kalka or Kali, an incarnation of Goddess Durga. Lakhs of devotees visit the temple praying for the fulfillment of their desires and seek Goddesses’ blessing.
The area is well connected by autos, buses, Metro, and other means of transport. Well networked with other commercial hubs like Nehru Place, Chittaranjan Park, Okhla, South Extension 1 and 2, Lajpat Nagar, Sarita Vihar, GK and other posh areas of Delhi, property in Kalkaji remains high and well deservedly so.
Before the liberalization hit the country in 1990’s, the area was primarily a residential colony with Delhi Development Authority (DDA) built houses and local markets. The locality comprised of flats and empty stretches of land. But after the market was freed and investments started pouring in, the area sprung up into action and commercial property grew like never before. The area now has numerous shops, commercial spaces and all kinds of educational and training institutes. Property in Kalkaji is not stagnant anymore and offers a wide range of options for a person looking for a flat in South Delhi.
Being nicely interwoven into the affluent South Delhi, Kalkaji offers a wide range of pricing to choose for when buying a property here. Ever since the area got commercialized the prices tripled or may be are ten times to what property owners spent buying property in Kalkaji way back in 1970s. The real estate in Kalkaji offers a wide variety of price, size and type of realty to choose from.
If you are planning to buy a builder floor then the current price range varies from Rs 6000 per square feet to Rs 22000 per square feet (January to April 2013 figures). Prices for apartments vary; the rates range from Rs 4000 per square feet to Rs 20,000 per square feet (January to March figures). These are a little less costly as most of them are DDA constructions.
Trends in Property
If you are looking for villas and independent houses then the prices range is much higher; between Rs 25000 per square feet to Rs 46000 per square feet. The rates vary according to the demands by the buyers and investors and the trends show more inclination towards builder floors than apartments. Property in Kalkaji is witnessing an overall growth of 5 per cent per annum (January To April 2013 figures) boosted by the growth in the demand for builder floors by a decent 5 per cent on a quarterly basis as they are nicely designed, with furnishings, modular kitchens etc.
Today’s buyers want these basic amenities as a given and the builders recognize that and construct floors accordingly luring end users and investors alike. Apartment as old as 1970 do not have those amenities and the buyer has to spend money getting things fixed, hence the price difference.
Categories: Real Estate
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