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High Prices of Unauthorised Colonies in Delhi

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High Prices of Unauthorised Colonies in Delhi

Last updated: June 12 2017
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  • High Prices of Unauthorised Colonies in Delhi

    While tracking the real estate for about a decade I have seen some interesting development happening in Delhi.

    One of friend lives in Krishna Park in Devli which is an unauthorised colony of Delhi. He has been living there for last 8 years. I have never shown interest in the price of that area.

    last week I was there and it was raining and one of the local broker was sitting there as well he too got stuck for two hours. Then the discussion broke out about real estate and when I asked about the price of the land in this area he said "40 k per sq yd minimum and upto 1 lakh per sq yd" I almost fell off my chair. My friend actually bought 8 years back around 5k per sq yd and since that piece of land is on the "main" road the price is not less than 80k per sq yd.

    When I asked about such high price in this area which is unanuthorised, there is hardly any public amenities available like park or green spaces or even big offices the gentry is mostly lower to middle class and has a tint of village in lifestyle, the roads are pathetic the water supply is from ground water and atleast once in a week the tube well dies for 3 4 days. The area is super populated and it is just besides the most densely populated area of sangam vihar.

    The broker said sir ji yaha to price badh he jaate hai - log pahle rent pe rahne aate hai fir ek one room set khareed lete hai fir usko bech kar 2 room set fir kuch to jaameen bhi khareed lete hai.

    I left the place spell bound thinking about the investments we all make in reputed builders projects and wait for a decent returns - here in unauthorised colony just Rs 5 lakhs 100 sq yd has grown in 40 lakhs ooopsss.

    how could I have overlooked that kind of investment opportunity
    Last edited January 6 2016, 01:41 PM. Reason: Original Name Mentioned
  • #2

    #2

    Re : High Prices of Unauthorised Colonies in Delhi

    Originally posted by rohit_warren View Post
    While tracking the real estate for about a decade I have seen some interesting development happening in Delhi.

    One of friend lives in Krishna Park in Devli which is an unauthorised colony of Delhi. He has been living there for last 8 years. I have never shown interest in the price of that area.

    last week I was there and it was raining and one of the local broker was sitting there as well he too got stuck for two hours. Then the discussion broke out about real estate and when I asked about the price of the land in this area he said "40 k per sq yd minimum and upto 1 lakh per sq yd" I almost fell off my chair. My friend actually bought 8 years back around 5k per sq yd and since that piece of land is on the "main" road the price is not less than 80k per sq yd.

    When I asked about such high price in this area which is unanuthorised, there is hardly any public amenities available like park or green spaces or even big offices the gentry is mostly lower to middle class and has a tint of village in lifestyle, the roads are pathetic the water supply is from ground water and atleast once in a week the tube well dies for 3 4 days. The area is super populated and it is just besides the most densely populated area of sangam vihar.

    The broker said sir ji yaha to price badh he jaate hai - log pahle rent pe rahne aate hai fir ek one room set khareed lete hai fir usko bech kar 2 room set fir kuch to jaameen bhi khareed lete hai.

    I left the place spell bound thinking about the investments we all make in reputed builders projects and wait for a decent returns - here in unauthorised colony just Rs 5 lakhs 100 sq yd has grown in 40 lakhs ooopsss.

    how could I have overlooked that kind of investment opportunity
    Rohit,

    Good you pointed out that, but that not only true for unauthorized colonis. Any investment in Delhi has given better returns than what reputed builder properties have given in same timeframe... as most of these properties are maintenance free...

    Rgds,
    Last edited January 6 2016, 01:41 PM. Reason: Original Name Mentioned

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    • #3

      #3

      Re : High Prices of Unauthorised Colonies in Delhi

      The rates in these colonies are still very less as compare to authorised colonies in Delhi and many local people living their for years actually buy there..Some of them even sell the old one floor house to local builder and he then construct 3 floors and sells those..True for a 50 sq mt plot as well..

      People buy because then know these colonies will get authorised one day...and infact recently, there was a news for authorizing these colonies ..so expect more price rise..

      Comment

      • #4

        #4

        Re : High Prices of Unauthorised Colonies in Delhi

        I agree with you rohit.

        I myself has prop. in unauth. colonies.

        Prop. value gets doubled in 1 year in these areas.

        For example: there is a rajiv colony behind rohini and rates will match atleast half of the rohini soon.

        Some of the unauth. colonies will get regularized before next delhi MCD elections so catch the train.
        Last edited January 6 2016, 01:42 PM. Reason: Original Name Mentioned

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        • #5

          #5

          Re : High Prices of Unauthorised Colonies in Delhi

          So, now does it make sense to put some money in Delhi's unauthorized colonies than the far off jungles of YExp way or places where there are so much of oversupply for coming 20 years
          Last edited January 6 2016, 01:42 PM. Reason: Original Name Mentioned

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          • #6

            #6

            Re : High Prices of Unauthorised Colonies in Delhi

            These unauthorized colonies have got most of the facilities when they are approved means electricity, water, sewer etc but the main problem is they dont have any green cover, no place for any social gathering, no place for car parking as almost everyone builds his house to more than 100% of the ground area means no vacant area left in the plot and even extending at least one meter balcony extended to all available sides.e open area.

            No proper roads, internal streets sometimes are closed at the end as someon has built his house there. Very narrow streets.

            As more and more people are coming to Delhi and NCr in search of work, there is always a shortage of houses and these colonies are mainly cut from agriculture land but many times on Govt land and no Govt can vacate that as they are vote bank. Price increase is there but this is in hard cash means black money. Yes definetely now a days these are also very expensive as these gets the benefits of the surrounding infrastructure means some colonies are in south delhi or west delhi near Dwarka or Rohini which are covered on metro route etc
            Last edited January 5 2016, 09:16 PM. Reason: Text formatting.

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            • #7

              #7

              Re : High Prices of Unauthorised Colonies in Delhi

              Rohit,

              It is your call. I am definitely in.

              Most of reg. colonies also requires black money so n othing new in unauth. colonies.
              Last edited January 6 2016, 01:42 PM. Reason: Original Name Mentioned

              Comment

              • #8

                #8

                Re : High Prices of Unauthorised Colonies in Delhi

                Any good unauth. colonies for investment purpose? Any suggestions.

                I can think some like colonies between dwarka and uttam nagar, karawal nagar

                Comment


                • ajjshomes
                  ajjshomes commented
                  Editing a comment
                  well, one can try even Chattarpur area, the area is developing and next to Saket too
              • #9

                #9

                Re : High Prices of Unauthorised Colonies in Delhi

                Originally posted by rohit_warren View Post
                While tracking the real estate for about a decade I have seen some interesting development happening in Delhi.

                One of friend lives in Krishna Park in Devli which is an unauthorised colony of Delhi. He has been living there for last 8 years. I have never shown interest in the price of that area.

                last week I was there and it was raining and one of the local broker was sitting there as well he too got stuck for two hours. Then the discussion broke out about real estate and when I asked about the price of the land in this area he said "40 k per sq yd minimum and upto 1 lakh per sq yd" I almost fell off my chair. My friend actually bought 8 years back around 5k per sq yd and since that piece of land is on the "main" road the price is not less than 80k per sq yd.

                When I asked about such high price in this area which is unanuthorised, there is hardly any public amenities available like park or green spaces or even big offices the gentry is mostly lower to middle class and has a tint of village in lifestyle, the roads are pathetic the water supply is from ground water and atleast once in a week the tube well dies for 3 4 days. The area is super populated and it is just besides the most densely populated area of sangam vihar.

                The broker said sir ji yaha to price badh he jaate hai - log pahle rent pe rahne aate hai fir ek one room set khareed lete hai fir usko bech kar 2 room set fir kuch to jaameen bhi khareed lete hai.

                I left the place spell bound thinking about the investments we all make in reputed builders projects and wait for a decent returns - here in unauthorised colony just Rs 5 lakhs 100 sq yd has grown in 40 lakhs ooopsss.

                how could I have overlooked that kind of investment opportunity
                Yes Buddy, prices have shooted up in last few years...

                Prices have increased for authorized and un-authorized colonies.. but remember you need to pay 75-85% black amount if you are planning to buy the property in delhi....

                not only the plots, now in delhi floor system has gained lot of popularity since DDA has approved parking + 4 Floors.....

                if you visit any Vihar's in east delhi, you will find lots of construction going on and each floor costing from 1 Cr - 3 CR depending on location, size ..... and white amount is maximum 25-50 lacs for these floors...

                Delhi has always been good investment opportunity, but one should have that much potential to do the investment...
                Last edited January 6 2016, 01:43 PM. Reason: Original Name Mentioned

                Comment

                • #10

                  #10

                  Re : High Prices of Unauthorised Colonies in Delhi

                  Just a correction....The hight of any building for personal use is 15 meter which doesnt require the NOC of differnt authorities.But some of the buldings I have seen in these areas are certainly more than 15 meter and things are going on as long as authoties are closing their eyes. Certainly, many buildings on Pushta area which collapsed few months ago were more than that. If hight of each roof is 9 ft means 3 meter that it comes to G+4

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