Living in Mukherjee Nagar comes with its youthful charms. This area is primarily filled with students from Delhi University,looking for accommodation near colleges. There are also a few viable options for those looking to settle in a mid segment locality but away from the hustle and bustle of South Delhi,at of course much cheaper rates. Originally called Kingsway Camp,Mukherjee Nagar is primarily a residential area. Other localities around it include the very posh Civil Lines,Hudson Lines,Radio Colony and Nirankari Colony.
Mukherjee Nagar was originally developed by the Delhi Development Authority (DDA) for refugees from Pakistan. Both apartments and individual plots are available,solely developed by the DDA. A 160 square yard plot offers builder plots at varying rates,depending on the floor level. A ground floor apartment on a plot of this size,spanning about 1440 square feet,can be acquired at Rs 80 lakh. A first floor apartment of the same area is priced at Rs 74 lakh,while a second floor apartment costs Rs 60-62 lakh. A third floor apartment is priced at a rate between Rs 50 and Rs 55 lakh. A 2 BHK apartment covering 860 square feet costs Rs 45 lakh. The location of this apartment would be near Batra Cinema. DDA also offers Self Financing Flats,under which prospective residents can book their homes and continue to pay for them through instalments. These flats are of area roughly between 1500-1600 square feet. A ground floor 3 BHK flat will costs between Rs 90 lakh to Rs 1 crore,while a first floor flat of the same area is priced between Rs 70 and Rs 80 lakh. A second floor flat will cost Rs. 60 lakh. More than buyers,Mukherjee Nagar is very popular among those seeking rented accommodation.
Rates in this area have seen a decline of Rs 4-5 lakh. There are few sellers and more landlords, said Pradeep Mishra,broker with Sainik Estates.
The rental rate is fairly uniform across the board. Most home owners rent out the first and second floors of their homes to Delhi University students coming in from across the country. A builder floor of 1440 square feet on a 160 square yard plot can be rented for between Rs. 16 17,000. However,there are even cheaper options for students particularly conscious about their budgets. Most rented flats are not structured like modern 2 or 3 BHK flats. Two similar-sized rooms along with kitchen and bathroom can be rented for a rate between Rs 8000 and Rs 9000. This would roughly form a 1 BHK apartment. A similar 2 BHK apartment can be rented for Rs 12,000.
Mukherjee Nagar is synonymous with coaching centres. IAS classes and other tutorial facilities for students studying at Delhi University can be found here. A regular jaunt of University students,there are brand outlets catering to their tastes. Model Town Market,Kamla Nagar Market and Kingsway Market are the biggest markets around. Batra Commercial Complex contains a cinema hall and numerous other branded stores including Levis and Big Apple. Most of the residents are young tenants. Its connectivity is of utmost importance to students living in the area. Vishwavidyalaya Metro Station can be reached in a few minutes. Electricity and water supply are fairly regular.