Not ex­or­bi­tant, not af­ford­able ei­ther

HT Estates - - HTESTATES - Harini Sri­ram

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.

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