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Delhi real estate expanding to newer zones


Delhi real estate expanding to newer zones

Last updated: November 20 2006
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  • Delhi real estate expanding to newer zones

    Saket - emerging as the preferred destination

    Proximity to posh localities of south Delhi, located near Malviya Nagar and Pushp Vihar has made Saket a preferred choice among developers as well as investors. Inhabited both by the business and salaried class individuals, the residential area of Saket was established by DDA in 1970

    The residential area is divided into blocks from A to N. The DDA and private flats are available here are divided into three categories HIG, MIG and duplex types. The cost of flats and kothis depend on location, size, quality of construction and the facilities provided.

    The price of a two bedroom flat with one kitchen and drawing room in the area of 1250 sq ft ranges from Rs 40 to 60 lakh, while a three bedroom flat including one kitchen, two toilets and one drawing room with parking space in the area of 1500 sq ft ranges from Rs 70 to 80 lakh. While price of four-bedrooms duplex type flat (area 2100 sq ft to 3000 sq ft) ranges from Rs 90 lakh to to Rs 1.20 crore. Private flats cost almost the same.

    Another reason for growing demand for property in Saket is property rates in Saket having remained stable and everything is available within a radius of 2 km which is a plus point for residents.Popular market places in Malviya Nagar, Hauz Khas, Madangir, are located within walking distance.

    The DDA auctioned 50 acres of land in the area to the Saket District Centre and the complex will house cineplex with 40 screens, have 15 lakh sq ft of retail space and 30 lakh sq ft commercial space. Around 12 to 14 office buildings and 6 service towers will also be constructed.
    Malls are also expected to be constructed here by as developers and builders like DLF and TDI have bought plots here. The DDA expects a footfall of about 3 lakh people daily.
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