Flowing together

Most of the citys popular,and relatively up-market,shopping areas lie towards its south. From Jorbagh to Defence Colony,Greater Kailash to Khan Market....

Most of the citys popular,and relatively up-market,shopping areas lie towards its south. From Jorbagh to Defence Colony,Greater Kailash to Khan Market,the high demand for commercial space in these areas is an important factor in pushing and maintaining even prices of residential spaces in the higher bracket. South Extension,or as it is more popularly known,South Ex,is no different. Behind the shopping blocks on either side that face out on to the Inner Ring Road lie residences of almost every type conceivable.

Explains Balrang Singh,a local property agent operating in the area for nearly 10 years,South Extension is an old residential area,but one wouldnt realise it with all the development thats taken place. With the development of one of the poshest markets in all the city right here,properties are also changing face. In South Extension II,there are well planned roads,not much problem with parking and grand bungalows and villas. There are also newer developments in Part II,which Singh explains,are builder apartments. The prices of builder floors range from Rs 30 lakh to Rs 75 lakh for a 2-bedroom to a 4-bedroom apartment. Some plots are so large that builders have been able to build two apartment blocks on the same property, he says.

An agent working with Mahajan Associates says,There are 6- to 10-bedroom bungalows that are now in the market. A two-storeyed bungalow with a basement,garden,three-car garage,servants quarters,and all the very best amenities was sold by us for close to Rs 2.5 crore. But why would owners want to part with bungalows that see so grand? Is there no further scope for appreciation? The agent explains: People here have also invested in bungalows or apartments in townships,or have freehold plots that they have developed,in the outskirts of the city. At some point of time they decide that South Extension isnt what it used to be and move out. There is definitely scope for prices to move up. There isnt much space left in this part of south Delhi,where else will prices go but up.

However,just behind South Extension I,lies a mini Sadar Bazaar-cum-Kirti Nagar. Kotla is a historical village of south Delhi and is famous for being the one place were you can get any and all types of goods and items you could possibly need. One can buy jewellery at Punjabi Bazaar,cheap clothes compared to the snazzy shops of the main South Ex market at Subhash Bazaar,the market on Gurdwara Road is famous for electronic items,Subhash market sells freshly ground flour,vegetable and fruit mandis at Sewa Nagar.

In a world ensconced between some of the most fashionable of the citys market places and residential areas,Kotla holds its own. Though on first view one wouldnt picture Kotla as a dream destination to live,consider what William Dillard said: Location,location,location.

Says estate agent Avikal,Once you take a left from Sewa Nagar,you come to the main market which is chock-a-block with shops selling almost everything you need at home. Though the entrance is not great,when you move past the market into the residential part of Kotla,there is something to suit all budgets. A bungalow with 9 BRwith a built-up area of nearly 2,800 sq ft can fetch Rs 1.5 crore.

There are a number of apartments in the area that are up for rent,says Avikal. A 2-BHK spread over 800 sq ft can be rented for Rs 12,000,a bigger apartment of 1,200 sq ft can be rented for around Rs 20,000. Small commercial properties are also available in the area. The asking price of a 750 sq ft space located Subhash Market is Rs 15 lakh,a slightly bigger shop measuring 900 sq ft in the same area can fetch Rs 18 lakh.