Vasant Vihar is the part of the city of Delhi where property prices of residential properties in India are ripening for a long time to come. Rising demands for posh properties nestled in this south Delhi region seem to show green signals to property hunters and investors perpetually. Different property hunters set their focus upon Vasant Vihar turning this a numero uno choice for all. Renown of Vasant Vihar has pervaded in such a way that resonates the name ?Vasant Vihar? invariably in the discussion of posh South Delhi residential locations.
Popularity of Vasant Vihar started generating since 1960. Once a deserted corner of the city had been converted into the most sought after destination for overall residential properties in India. It is now truly difficult to believe that the location which was quite difficult to connect back in 1960s with inconvenience of public transportation is presently touted as one of the costliest residential property zones of Delhi and a home to expatriates and diplomats, city based affluent natives.
One good example of how the city is growing to be one of those most expensive residential properties in india is a real estate deal made in earlier period of the year. The deal was on leasing a property which went on rise to as high as up to Rs. 114 for every square feet and it was leased to an African Consulate. Though the leasing rates of properties in this neighbourhood usually vary between Rs. 45 to 70 per square feet, yet this building generated nearly double rental yields for the owner.
As per the estimation taken according to the rates per square feet, rents of the building turn out to be Rs.16.5 lakh for the month and Rs. 1.98 crore for a year. Now the leasing contract covers the tenure of two years at the time of signing at the agreement. Besides being preferred residential location foreign migrants, students of premium educational institutes and universities surrounding the area, near proximity from Outer Ring Road are thickening population and popularity for Vasant Vihar.
