One of south Delhi’s most affordable areas
Vasant Kunj has, over the years, emerged as a much sought-after residential locality in southwest Delhi. Developed by DDA in the late ’80s, this area is divided into five main sectors (A to E) which are further subdivided into pockets starting from one. Despite the relatively high prices, it continues to attract home buyers and tenants alike, thanks to its location and the numerous housing options available.
Ganesh Vasudevan, CEO, indiaproperty.com, points out to location being the biggest USP of Vasant Kunj. “It is ideally located in close proximity to the Delhi airport, national highway and the commercial hub of Gurgaon. Wide roads and the Metro provide good connectivity. Compared to many other localities in this part of the city, Vasant Kunj is still relatively affordable for people who aspire to live in south Delhi. In terms of social infrastructure, the locality has everything in place, right from the best malls in Delhi to medical facilities and schools. It is located close to the green belt with the ridge, forest land (Sanjay Vann) and JNU campus - which give residents a much needed respite from claustrophobic concrete jungles.”
Prices in Vasant Kunj vary with every sector with Sector C being the most expensive as it has bigger apartments and is closer to the high-end malls on Nelson Mandela Road.
On the premium pricing in Sector C, A local real estate broker comments, “it also has a few private buildings while t he rest of t he sectors are occupied by DDA flats. C4 and C5 are the most expensive with flats available for as high as ₹ 8 crore, while the average price in the other sectors for a 1,000 sq ft apartment is about ₹ 3 crore.” Some pockets of Sector B are also expensive.
B1, saysVasudevan, is also among the most expensive sectors as it is less congested. This is followed by sectors A and D. “Sector E is affordable as it is located closer to the densely populated urban village of Mahipalpur and offers smaller flats,” he says.
The average size for 1 BHK or LIG (Low Income Group) apartments is around 500 to 700 sq ft, while for 2 BHK or MIG (Mid Income Group) apartments, it is around 800 sq ft to 900 sq ft. You can find 3 BHK or HIG (high income group) apartments measuring between 1100 sq ft to 1250 sq ft. The average price per sq ft is between ₹ 14,000 and ₹ 20,000, depending on the location and sector, says Vasudevan.
Vasant Kunj is well connected by a robust bus network and the closest Metro station is at Chattarpur on the Yellow Line of the Delhi Metro. Abhishek Jain, a resident of Vasant Kunj, says, “I work in Gurgaon while my wife’s office is at Green Park. We were initially looking for rental options in Saket but it turned out to be too expensive. Vasant Kunj seemed like a sensible option because of its connectivity to Gurgaon and proximity to other areas of south Delhi. The area has some of the city’s best schools and malls and a cosmopolitan mix of people. Besides, most importantly, it fit our budget too!”
The controversy regarding t he Commonwealth Games ( CWG) flats in D6 has been some cause for concern among homebuyers. As a local broker who deals with apartments in the newly constructed blocks – Narmada, Saraswati, Ganga, Yamuna and Kaveri, points out, “There is not much of an issue as far as Kaveri, Narmada and Saraswati are concerned. Work on t he basement car parking here is underway and it might take a long time for it to become operational. In Ganga and Yamuna though, there are problems regarding possession, water and electricity.” Occupancy rates in these blocks is about 40%.
Parking is a problem here along with the fact that owners seem to extend and modify their floors without sparing a thought to structural safety. As Vasudevan explains, “Most of the sectors have old buildings with load-bearing structures. There is no control on people altering and tampering the original structure for extending their houses. Also, since the area was initially planned and sold to the service class people, there is a high percentage of senior citizens in the area. Absence of elevators in the G+3 structures is forcing some elderly residents who cannot climb stairs to shift to new gated communities in Gurgaon and Noida.”