Cen­tre of at­trac­tion

HT Estates - - Property Classifieds - Vi­neet K Singh

One of the old­est res­i­den­tial lo­cal­i­ties in West Delhi, Janakpuri has been named af­ter Raja Janaka, whose daugh­ter Sita mar­ried Lord Rama in the Hindu epic Ra­mayana.

Janakpuri is di­vided into four blocks: A, B, C, D with sub blocks. Once the largest planned res­i­den­tial colonies in Asia, it has DDA flats (Ap­prox­i­mately 10,000 in num­ber) and other pri­vately­built houses across the four blocks.

The blocks have parks and at least one shop­ping cen­tre each. The more pop­u­lar ones are those in the C-4-E mar­ket and the B-1 su­per mar­ket. Block B is the ‘posh’ part of Janakpuri be­cause of the high cap­i­tal rates preva­lent here.

The res­i­den­tial as well as com­mer­cial seg­ments have posted steady growth. The cur­rent price of an in­de­pen­dent floor is R9000 to R15000 per sq ft. There are dif­fer­ent rates for flats for four in­come groups (IG) – janta, LIG, MIG and HIG flats.

Apart from flats, kothis are also avail­able for the more af­flu­ent, their costs vary­ing from R1 crore to R2.11 crore. Com­mer­cial real es­tate is cur­rently priced in the range of R30 lakh to R9 crore, which works out to nearly R10,000 to R21,000 per sq ft.

Res­i­den­tial rentals, de­pend­ing on location and num­ber of rooms, are in the range of R8,000 to R35,000 per sq ft. Pre­mium rates are charged for res­i­den­tial ac­com­mo­da­tion close to the Metro sta­tions.

Shops can be leased at R10,000 to R32,000 per sq ft. A leisure and en­ter­tain­ment hub, the District Cen­tre is ob­vi­ously ex­pen­sive to rent when com­pared to the block mar­kets, with shop rentals go­ing from R8000 to R60,000. Prices, how­ever, de­pend on location and space.

Most lo­cals and oth­ers in the neigh­bour­hood are here on week­ends to catch the lat­est movie at Satyam Cine­plex or grab a ca­puc­cino at Barista or try out the dim sums and Tai Chi chicken at Yo! China. Berco’s is the other Chi­nese op­tion. Moti Ma­hal Delux, Bemisaal and Dilli Dar­bar of­fer some in­ter­est­ing non-veg­e­tar­ian op­tions from fish fry Am­rit­sari to rarha mut­ton to murg zaf­frani tikka.

The Wes­tend Mall also draws crowds be­cause of its restau­rants and cof­fee shops, in­clud­ing Cream Berry with its brownie sun­daes and cream waf­fles.

Other eat­ing out op­tions in­clude 34 Chowringhee Lane – no other eatery has such an as­ton­ish­ing va­ri­ety of egg dishes on the menu – Bak­ing­ton’s Biryani Cor­ner, etc.

The pres­ence of The Hil­ton has also added five stars to Janakpuri’s swank quo­tient.

Ac­cord­ing to Prem Ku­mar Singh, pro­pri­etor, Nimit Projects, “The real es­tate mar­ket here is sta­ble when it comes to rental (rates). These have stayed more or less stag­nant while the cap­i­tal rates have shown a slight dip”. Singh is, how­ever, op­ti­mistic of the mar­ket re­viv­ing soon.

A chal­lenge that Janakpuri grap­ples with daily is the paucity of park­ing space. The wa­ter and power supply sit­u­a­tion here, how­ever, is fairly good com­pared to other ar­eas close by.

Easy ac­cess: Janakpuri is well-con­nected both by road and the Metro

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