No longer on the fringe

When construction was started at Vasant Kunj by the Delhi Development Authority in the early 1980s,the area was still considered to be apart from greater Delhi area.

When construction was started at Vasant Kunj by the Delhi Development Authority in the early 1980s,the area was still considered to be apart from greater Delhi area. Now,with the coming up of malls on Nelson Mandela Road,the shaping up of the Mehrauli-Gurgaon Road as well as NH-8,Vasant Kunj has become an integral part of South Delhi. Besides having a lush green expanse,wide and clean roads except of course if you happen to be coming from Mahipalpur,considerably cheaper homes compared to its namesake Vasant Vihar and some of the best constructed urban middle-class homes,Vasant Kunj has a lot more to offer. Lets take a look at the advantages the area has.

Vasant Kunj is well connected to Gurgaon,other areas of South Delhi,as well as the IGI Airport. There are several of the cities best shopping malls and multiplexes in and around the area. While complexes like Vasant Arcade have long been the commercial hub of the area,Nelson Mandela Road is all set to become one of the biggest shopping centres in Delhi. Though the construction of malls was held up,with the state government arguing that environmental clearance has not been acquired,work has recently kicked off in grand style. The Emporio Mall,touted as the most expensive mall in India,is also expected to cause property rates in Vasant Kunj to appreciate. Thats good news for residents,but comes as a downer for prospective buyers.

Coming to prices,Anand Choudhary of Choudhary Realty, says that Vasant Kunj doesnt lag far behind Vasant Vihar,but is definitely more affordable.

Compare commercial property rates. At C-Block in Vasant Vihar,a 10 square foot property can be got for Rs 55 lakh to Rs 60 lakh. Similarly,a 10 square foot shop on the first floor of Vasant Arcade is available for a more reasonable Rs 45 lakh. Forget about restaurants and such,there is more demand for shops to sell hardware,computer peripherals,as well as area offices of banks,mobile service providers,etc. Restaurants,pubs and lounges can only be found in malls,or at the upmarket areas of Vasant Vihar,though there definitely are some in Vasant Kunj.

The DDA has recently constructed a set of high- and middle-income group houses in the area as part of its alternative accommodation scheme in its preparation for the Commonwealth Games. These apartments are being furnished and upgraded by the Indian Tourism Development Corporation for visitors to the Games. The apartments have been upgraded at an approximate cost of between Rs 2.5 lakh to Rs 3.5 lakh,depending on the size.

Says Ravi Shukla of Om Estates,There are flats available in the DDA colonies in sectors B,C and D. While a 2-BHK would cost between Rs 65 lakh to Rs 95 lakh depending on sector,corner plot,road-facing apartment,etc,a 3-BHK would set one back by around Rs 1.2 crore to Rs 3 crore. With regard to rentals,similar 2-BHK apartments in these sectors can be rented fo between Rs 16,000 to Rs 18,000,3-BHK flats can fetch between Rs 22,000 to Rs 30,000, says Shukla. Builder floors are the only new development happening in the area,but there are quite a few lying empty, says Choudhary,adding,These floors dont sell on a per-square foot basis,rather they are being sold as per the location and builders reputation. A newly-built builder floor with three bedrooms would sell for close to Rs 3 crore.