Vasant Kunj is in the news often, but usually for the wrong reasons. Major security breaches and scarcity of water supply often make headlines here. However, with the influx of more people, residents and others, things seem to be looking up for the area.
In the past, Vasant Kunj was known for its farmhouses and plush bungalows. But with the DDA housing scheme of the 1990s, the urban middle class realised its dream of owning a house in this part of the town without burning a hole in its pocket. A few hundred residential units were added to the landscape as a part of the 2008 and 2010 DDA housing schemes.
Spread across a few kilometers, Vasant Kunj is divid- ed into four sectors, A, B, C and D. Each sector has its own commercial complex, which makes it convenient for the residents to fulfil and tend to their day-to-day requirements.
As per Nivesh Agarwal, Proprietor Balaji Estates, Vasant Kunj, “The property boom of Vasant Kunj is quite amazing as the prices are always on a high tide. There is a lot of demand for plots as well as flats in Vasant Kunj. We can tag this area as the most profitable place to invest in Delhi as of today.”
The capital rates of Vasant Kunj are within the range of R13,000 per sq ft to R18,000 per sq ft, one can buy a 3 BHK within R2 crore to R3 crore, depending on the location and facilities in the house. A single room will cost around R1.2 crore while a 2BHK is for R2 crore. The rates for plots start at R20,000 per sq ft and go up to R6 crore and upwards. Farmland prices in Vasant Kunj are the highest in Delhi, followed by Rajokri. As price rise is a constant, there’s never a bad time to invest here, say the local real estate brokers.
Commercial outlets in Vasant Kunj are priced in the range of about R20,000 per sq ft to R40,000 per sq ft, depending on the area and floor of the shop.
Those wanting a temporary residence here should know that rentals vary from R17,000 for a 2BHK to R30,000 for a 3BHK. A house in Sector C, pocket 1 was rented out for R35,000 while in D block a single room went for R24,000. The rentals for farmhouses can vary between R2 lakh to R3 lakh, depending upon its furnishings and location. A shop can be leased at anything between R50,000 to R3 lakh or more, depending on its location, usage and furnishings.
Some of the best schools, universities like JNU and TERI University and hospitals are located here. Vasant Kunj also boasts of some topof-the-line malls which are home to some big international brands. These malls are the major drivers of the ever escalating real estate prices in Vasant Kunj. The place also has a rich legacy of local eateries. The central market on the Masoodpur road is a haven for foodies. From chaat to pastries, it offers delicacies enough to tempt any food lover. Also, Chick ‘n’ Fish and China Bowl are famous not just with the residents but also with Delhiites in general.
Central junction: high on its location
Vasant Kunj scores