Greater Kailash--known for the posh locality, greenery, high-end markets, and fancy restaurants--is divided into two parts, GK I and GK II.Both zones are famous for big, swanky buildings with lush green lawns.
GK I came up in 1960s--largely developed by DLF Limited when Delhi government allowed private developers to build colonies--and is today counted amongst the most affluent neighborhoods in the city.
Connectivity is one of the several factors that lead to the rising demand of the area. The domestic airport which is 17km from Greater Kailash, Nizamuddin rail way station is around 9km, the international airport (IGI) is 22km away, while New Delhi Railway Station is around 1516km from Greater Kailash.
Also, with the coming of the Metro line, people residing in and around GK are now so well connected that most of them do not dream of moving out of this area.
Ishita Mukherjee, a resident of GK I, says: “I have been staying in GK for the last seven years and the experience has been amazing. This place is not only comfortable but peaceful too, thanks to the greenery. And, the Metro has come as an additional blessing to us--now I have no reason to change my residence as every part of Delhi is easily commutable from here.“
Greater Kailash is famous for its M and N Block markets. These markets are home to a wide range of retail stores like Giovanni, Next, Puma, Nike, Adidas, and Lacoste and several restaurants and coffee houses.
Several well-known designers have showrooms here and the area has a huge clientele in the wealth and fashionable.This is one of the major reasons why many people want to buy or invest in a property here; also, this precisely the reason that prices in GK remain so high.
Dirbal Bhanduri, a real estate agent in GK, says that although the area saw a drastic price rise in the last four years, it has remained stable over the last year.“The price of a 2BHK in 2010 was Rs 30,000-40,000 per sq feet, which went up to Rs 60,000-70,000 per sq feet in 2011.But it came down to Rs 45,000-50,000 per sq feet in 2014 and has remained constant ever since.“
Another resident, Shikha Bedi says: “Greater Kailash is a posh locality of Delhi, very peaceful and known for its rich culture and good neighbourhood. The place has good restaurants, hotels , clubs, markets, and recreation parks.“
Shopper’s paradise
Greater Kailash is famous for M and N Block markets. These markets are home to a wide range of retail stores like Giovanni, Next, Puma, Nike, Adidas, and Lacoste and several restaurants and coffee houses. Several well-known designers have their showrooms here.
Property rates have not gone up even after the circles rates were revised here, making GK an ideal place for homebuyers and investors.
SOURCE: Magicbricks
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