As per the latest edition of Magicbricks PropIndex(Jan-Mar quarter) 2015, an India Apartment Index, nearly 80 percent of the tracked localities in Delhi recorded a rise in rental values. The rise in values ranged from 1 to 8 per cent with Greater Kailash-II recording the maximum rise followed by Greater Kailash and Dwarka.
Greater Kailash-II
The locality is often referred as GK-II which is an extension of Greater Kailash I and is directly connected with the Outer Ring Road of New Delhi. The locality is well established in terms of having presence of shopping markets, good connectivity and social infrastructure. However, the locality still struggles with parking due to congested lanes leading to traffic on the road. Navneet, an existing owner of the locality says, “Greater Kailash-II is a very quiet and a clean residential locality with banks, grocery stores, vegetable markets, hospitals and super markets in close vicinity.”
Who rents? The locality witnesses a mix of business class, young couples, NRIs and bachelors working at executive level. Apartments are available in various sizes to suit with the budget bracket of rent seekers from all levels. As per the data with Magicbricks, rent of a 2BHK apartment is between Rs 25,000 to 60,000 per month and could either be furnished and semi-furnished. For a larger unit like a 3BHK apartment, monthly rental starts from Rs 35,000 and goes above over Rs 1 crore.
Greater Kailash
Greater Kailash is a well established residential area in South Delhi that comprises of Greater Kailash-I and Greater Kailash-II. It is home to some of the affluent families in Delhi from various backgrounds such as businessmen, bureaucrats, industrialists, defense officers and politicians. The area is just 9 km away from the Nizamuddin Railway Station and 22 km from the Indira Gandhi International Airport. Social infrastructure of the area is also good and comprises of school, colleges, higher education institutions, local stores and medical facilities.
You can rent a smaller unit -1BHK in a monthly rental between Rs 12,000 to 45,000 followed by 2BHKs for Rs 25,000 to Rs 1.1 lakh. If you wish to rent a 3BHK spacious apartment then the monthly rental would be between Rs 30,000 to Rs 2 lakh. Apartments available for rent is available can be furnished, semi-furnished and un-furnished with equipped modern age amenities.
Dwarka
Dwarka has topped the chart of being the top preferred area in Delhi to rent and buy. It is located in South-West Delhi and in proximity to Gurgaon and the Indira Gandhi International Airport. Further, Dwarka is surrounded by Pankha Road, National Highway 8, Rewari Railway Line, Outer Ring Road and Najafgarh Road. The preference of the locality for both buying and renting always remains high owing to the fact that it is located near Gurgaon and therefore garners attention of IT professionals.
You can rent a 2BHK apartment for approximate price bracket of Rs 6,000 to 30,000 followed by a larger unit i.e. 3BHK for Rs 10,000 to 45,000 per month.
While buying a home in Greater Kailash-II, Greater Kailash and Dwarka will be expensive but renting is always an option to live for those who desire to live in a posh locality.
SOURCE: Magicbricks
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