Your City North Delhi Linked To The Future
Syed Amir Ali Hashmi finds both residents and real-estate prices in North Delhi upbeat -all thanks to better connectivity
Aregion in the city that can boast of its own special charm is North Delhi. Much of it is due to the presence of the scenic Delhi University campus. Another aspect to the charm is added by Azadpur Mandi, where thousands of tonnes of fruits and vegetables land before finding their way to different parts of Delhi and neighbouring states. North Delhi is well connected with other parts of Delhi through local buses and the Metro. In fact, the superb connectivity offered by the Metro has had a very favourable effect on the real estate scenario here.
North Delhi encompasses an area of 60 sq. km. Major localities here include Alipur Road, Ashok Vihar, Azadpur, Civil Lines, Kashmere Gate, Model Town, Mukherjee Nagar, Navjiwan Vihar, Pitampura, Prashant Vihar, Rajiv Nagar, Rani Bagh, Rishi Nagar, Rohini, Shakti Nagar, Shalimar Bagh, Surya Enclave, Vardhman Nagar, Vivekanand Nagar, Wazirpur and Inderlok.
Dr Prashant Bhasin, a dental surgeon who runs his own clinic in Shakti Nagar, was born and grew up in North Delhi. His grandparents as well as parents have called the Ashok Vihar area their home.
“I would say that in the last ten years the area has evolved to a great extent.
The (development resulting from the) Commonwealth Games has had a good effect here and the Chatrasal Stadium has been upgraded to international standards and, yes, this will help the people staying here, especially those interested in sports,” says Dr Bhasin.
North Delhi, he adds, has seen vast improvements in the last decade. Along with many malls that have come up more recently, there has been widespread elctrification of the roads, facilitating the installation of streetlights. Lanes where residents never used to venture after dark are well-lit and safe now, says Dr Bhasin.
“In Shakti Nagar Extension, a cricket academy has come up, and we’ve had some swimming pools come up in the area as well. One more stadium has come up on Lawrence Road. All this means that North Delhi has something for all ages and takes special care of kids’ needs too,” says Dr Bhasin.
North Delhi is also one of the first regions to have witnessed improvements in connectivity to the Central Business District (CBD) due to the Delhi Metro. Ever since the Vishwavidyalaya Central Secretariat Metro link became operational, many North Delhi locations have seen a rise in property prices.
In six months, the Jahangirpuri-Central Secretariat-Qutab MinarGurgaon Metro link is expected to get operational.
This in turn will allow easier access to various South Delhi locations and will also improve connectivity to Gurgaon.
It is widely believed that this will improve North Delhi’s status as a key residential zone and will drive property prices and rental values upwards.
With increased accessibility to the CBD and other areas, the capital and rental values have seen a marked increase. Real-estate experts believe that areas such as Model Town and Azadpur have seen an appreciation of about 30 per cent in capital value.
When it comes to the residential segment, houses near Metro stations attract higher capital and rental values.
Shailendra, a real-estate agent, says that when the Metro reached DU’s North Campus, the rentals went up by 50-70 per cent.
“The introduction of the Metro has meant that people from other parts of Delhi are moving to this area. It has also improved connectivity greatly. Business centres have come up as have some new hospitals. Fortis has come up in Shalimar Bagh, and there’s Max Hospital in Netaji Subash Place,” says Dr Bhasin.
The developers are active here, too, now. Parsvnath Developers has launched two residential projects -near Civil Lines and Subhash Nagar Metro stations. The same developer is also coming up with La Tropicana apartments and villas on Magazine Road, Civil Lines, a project launched in 2005.
The project boasts sophisticated designs for three, fourand five-bedroom apartments, penthouses and villas.
The company started construction in August 2009 after obtaining the requisite approvals including sanction of building plans by the Municipal Corporation of Delhi.
The M2K Group, which has malls in Rohini and Pitampura, is coming up with Victoria Gardens, a freehold, residential project in the Model Town area.
A look at real-estate prices: One-room janta flats in Pitampura, with an area of about 200 sq ft to 250 sq. ft, are priced at Rs 10 lakh to Rs 20 lakh. LIG flats, with one bedroom and a drawing room, spread across 400 sq.
ft can be bought for Rs 30 lakh to Rs 35 lakh in Pitampura. MIG flats come for Rs 40 lakh to Rs 65.7 lakh; super MIG (1150 sq.ft.) go for Rs 50 lakh to Rs 75 lakh; and HIG flats (1150-1450 sq.ft) are going for Rs 75 lakh to Rs 1.25 crore. Plots measuring about 200 sq yd in Pitampura are available for about Rs 2.25 crore to Rs 2.5 crore.
Courtesy: HT Estates 20th Feb 2010
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