Delhi Real Estate: Knowing Jhandewalan

By: George Gonigal

From corporate houses to local residents, everyone feels that provision of metro has brought Jhandewalan real estate in the limelight. Another reason for the growth of this part of Delhi has been the recent MCD sealing drive across the city. The sealing drive led to the closure of many illegal office premises which forced the occupant to rush to legal buildings such as the Videocon Tower.

As far as entertainment is concerned there are no movie halls in Jhandewalan. The movie hall in Paharganj caters to the need of Jhandewalan and nearly all the entertainment and retail needs of the area are met by Paharganj, Patel Nagar and Karol Bagh.

Jhandewalan Main

Coming up of Videocon Towers in Jhandewalan-Delhi has been the single-largest factor in the development of the area. Earlier to Videocon Towers there were only 2-3 shops in the area and most of the space was occupied by shanties all around.

After the entry of tower major companies, more number of people entered the market, and an impact was there in the form of rising property values. This office complex which has become a landmark in itself has many offices within it. However, contradictory views are also there over these developments and some people do believe that the complex has not been very significant for the image makeover for the area as a whole.

Residential set up

The Jhandewalan main or the factory area has residential blocks from A to F, but there are no residents in factory area. In the extension area, there are houses on 1st and 2nd floor. The values of the plots are in tune of Rs. one lakh per sq. yd.

Videocon Towers has benefited the commercial property market in a tremendous way and the prices have nearly doubled since 1999, the year it was established. However, there is no demand for residential plots in the area at present although the commercial property values are increasing day by day. With this it would not be profitable to buy a residential plot, experts say.

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