Not exorbitant, not affordable either
Preet Vihar in East Delhi has evolved into a prime residential colony in the last 35 years. Laid out by the Delhi Development Authority ( DDA) in 1978, the area has made significant strides in the commercial and the residential space. Despite its inherent commercial character, the area has a clearly demarcated residential zone in the form of blocks that branch off Vikas Marg. There are seven residential blocks here – named from A to G, and each block has its own market to meet the daily shopping needs of its residents.
Today, Preet Vihar is a much sought- after residential area in East Delhi. There are several reasons for this, but the main factor, as many local real estate brokers point out, is its location. It is very close to the centre of the city and is just about 20 minutes or so away from Connaught Place, and is located very close to the com- mercial hub of Laxmi Nagar.
Another advantage of Preet Vihar is the fact that it is wellconnected to different parts of the city – east, west, and the centre, through a robust bus network. The Anand Vihar ISBT is just about 4km away from Preet Vihar and a lot of buses ply down Vikas Marg. In addition, the Preet Vihar Metro station on Vikas Marg falls on the Blue Line of the Delhi metro and this has further attracted many residents and commercial activity to the area.
As a real estate agent points out, “In the year 1980, a plot of land measuring, say, 200 sq yd cost about 1 lakh. Today, though, you will not find a decent residential space for less than
2crore. On an average, a 3 BHK unit in Preet Vihar will set you back by 2.5 crore.”
Preet Vihar mostly has independent houses and builder floors. Most of these units are marginally larger than what you might find in the neighbouring areas. People who have their workplaces in central Delhi prefer living here, as it offers them a better quality of life at a reasonable price. Thanks to the excellent connectivity, one does not have to spend too much time commuting to get to central Delhi and other parts of east Delhi.
Anand Sharma, who moved to Preet Vihar from Laxmi Nagar two years ago, says, “I’m glad I made the decision to move here. I have a shop in Laxmi Nagar, but it is a very congested area and the quality of construction of houses leaves a lot to be desired. I was living in a small one bedroom unit and paying a very high rent. Preet Vihar has better housing options, and although it is more expensive than my previous accommodation, it’s worth the price.” Sharma takes the Metro to Laxmi Nagar every day and it takes him not more than 10 to 15 minutes to reach his destination. He lives in a small 2 BHK unit here and pays a monthly rental of close to 25,000.
Preet Vihar is also a commercial centre, and one of the key markets for second-hand cars in East Delhi. It has its own shopping complexes – both DDA and private ones – with outlets of major brands and eateries. In addition to the commercial complexes, there are a few shopping malls in the neighbourhood including V3S mall, which houses Fun Cinemas, a multiplex. The Central Board of Secondary Education (CBSE) building is located here too and it has good schools, colleges, coaching centres and hospitals.
The area has a decent green cover, with each of the seven residential blocks having its own park. The security situation is not bad either, says Sharma, adding that perhaps the only drawback here is that the traffic on Vikas Marg tends to get chaotic. Most houses do not have parking space, so people are forced to park their cars on the lanes, and this can clog up the roads at times, he adds. “Preet Vihar may be considered slightly expensive, but given its location, connectivity and the quality of life it offers, it is quite reasonable,” adds Sharma.