Desired and aspired by everyone, Delhi’s Greater Kailash, famously
known as GK, is a posh residential colony in South Delhi where real
estate prices have always been up and will remain so because of the
pride and honor associated with owning a property in Greater Kailash in Delhi
is concerned. Property prices have always been on the upward spiral,
barring a few months in the last quarter (Oct-Dec 2012 due to overall
dip in real estate across the country), realty remains at its prime
here.
Adjoining other posh areas like East of Kailash, Nehru Place (which is the hub of commercial spaces and property), Lajpat Nagar, another land mark commercial and residential area, Kalkaji, Chittaranajan Park, a posh locality dominated by elite Bengalis and famously known as the ‘Mini Bengal’, Masjid Moth, Kailash Colony, Sant Nagar, a locality with huge bungalows, Pamposh enclave; known for its beauty and charm, Henkunt Colony, Chirag enclave and Siri Fort Road; another land mark on Delhi’s land scape; owning a property in Greater Kailash-Delhi is the ultimate reverie of anyone buying a flat in Delhi. Realty growth chart remains on the higher trajectory here and the future looks bright and picture perfect.
Excellent Commercial value
Home to the who’s who of Delhi’s elite, Greater Kailash is divided into two almost equally developed zones. Known as the Greater Kailash Part 1 and Greater Kailash Part 2, with the former having more residential properties along with commercial ones, but it is the latter Greater Kailash Part 2, which is abuzz with activity that is more commercial.
Home to the who’s who of Delhi’s elite, Greater Kailash is divided into two almost equally developed zones. Known as the Greater Kailash Part 1 and Greater Kailash Part 2, with the former having more residential properties along with commercial ones, but it is the latter Greater Kailash Part 2, which is abuzz with activity that is more commercial.
GK 2, as it is fondly called, has famous market places located in the M and N block, which are high-end commercial spaces. All the luxury brands have their showrooms here and the M block market especially is a hot favorite among buyers from not only Delhi but also the National Capital Region, popularly known as the Delhi-NCR.
Greater Kailash I came into being in 1960s and was followed by the expansion of the area due to demand, resulting in the development of Greater Kailash Part II. Both are located near the Outer Ring Road but it is the GK Part II that is nearer to the Outer Ring Road of New Delhi.
The Indira Gandhi International Airport is 17 kms from here and the Delhi’s Nizamuddin Railway station is approx 9 kms from Greater Kailash whereas the New Delhi Railway Station is around 16 kms from GK.
Property rates
As mentioned above property rates have always been high and it is almost impossible for a middle class salaried person to afford a property in Greater Kailash-Delhi. The prices are beyond their budget and the rates begin in Crores and nothing less. If we talk about the Per Square Feet area rates then starting from Rs 15,000 (and you would be lucky if you find a property in Greater Kailash at this rate) the rates can range anywhere up to Rs 80,000 and counting. No doubt, it is an area for the wealthy and rich who can afford such exorbitant rates. The area is very high on the real estate ladder and the climb in property rates is on a continuous upward spiral.
Property Trends
If we look at the property trends from the year 2007 onwards, then we witness a steady growth in the rates and the figure lingers around 11 to 25 per cent of average growth rate. The increase rate as far as this last quarter goes, which is Jan 2013 to Mar 2013, the growth rate remained between 12 to 24 per cent and counting. As realty is slowly picking up in other areas after the slump, the realty giant that Greater Kailash is, it is bound to witness a jump in realty further.
