Location Profile-vasant Vihar, South Delhi

By: George Gonigal

If you are looking for a residential property in South Delhi, you should not ignore Vasant Vihar anyways. It is a preferred residence for diplomats and has come a long way from the time when this locality's surrounding area was deserted and Vasant Vihar was considered to be on the outskirts of the city and was hard to get to using public transport.

Residential properties

Today, Vasant vihar is one of the most posh residential properties in South Delhi. Recently, there was landmark deal early this year when a bungalow was leased out to African consulate at Rs 114 per sq. ft. Though current property values in the rental segment are Rs 45-70 per sq. ft in the neighborhood, this bungalow fetched more than twice the market rate.

The rent for the month works out to Rs16.5 lakh, and Rs 1.98 crore for the year. The deal also includes an advance of 2 years' rent at the time the deal was signed.

According to property broker Sanjeev Sharma, the capital value of independent floors ranges from Rs 50,000 per sq yd to Rs 5 lakh per sq yd, depending upon the location and the structure of the property bungalows of size 624 sq yard cost Rs 40 cr-Rs 60 cr.

Commercial scenario

The current capital Value is Rs 70-80 lakh for 14 by 14 sq ft shop while current rental value is around Rs 2-2.5 lakh for 18 by 16 sq ft showroom. Basant Lok market houses eateries such as Mc Donalds, Pizza Hut, Nirula's, Domino's, Punjabi by Nature, Yo China, Subway and pubs such as Ruby Tuesday, Thank God Its Friday, Hookah and other retail showrooms like Archies, United colours of Benetton, Reebok, Adidas, Excalibur, Provogue, Park Avenue.

Besides there are also some hair saloons such as affinity hair cut saloon, Madonna, VLCC and all bank ATMs have a presence in this market.

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