Resale Homes Abound In Delhi; Rents As High As 15L

All things considered, having a property close to the national capital is one thing, having a property in the national capital is another. Most of us would any day settle for the latter if we had our say, is it not? Well, it should not sound far-fetched when we tell you that you do have a choice. Close to 200 units are ready for possession in national capital Delhi, data show.

Dwarka sectors 1, 3, 4, 6, 7, 9, 10, 12, 13, 18A & 26, Jasola, Uttam Nagar, IP Extension, Burari, Shahdara, Chattarpur, Model Town, Kalkaji, Janakpuri, Delhi Cantonment, Kapashera, Jaunapur, Vikaspuri, Mehrauli and Vasant Kunj are some of the locations, where you could buy resale housing options. It must be noted that the bulk of these homes are scattered across various sectors of Dwarka.

Ready to rent?

However, property prices in Delhi have not seen much movement in recent past. This is the reason why most sellers are putting their plans on hold.

Also read: Connectivity Is The Key Word In Delhi Budget

Ganesh Vidyarthi, broker at Quality Homes, says, “Most home owners are not selling off their properties because they believe they will not be able to make a profit with it. Therefore, such homeowners, who are eager to dispose the property, are waiting for a better time. Meanwhile, they are trying to earn through rentals. Naturally, only those localities wherein capital values are low are featuring in the resale market.”.

Options aplenty

A cursory glance at Makaan.com website shows that semi-furnished and furnished, plush homes are aplenty in areas such as Greater Kailash-I and II, Dwarka, Jor Bagh, Panchsheel Park, Chanakyapuri, Sunder Nagar, Shanti Niketan, East of Kailash, Defence Colony, New Rajendra Nagar, Vasant Vihar, Maharani Bagh, Hauz Khas New Friends Colony, etc. Usually, these are premium villas and bungalows or spacious 4-10BHK units. The size varies anywhere between 3,500-9,000 sqft. Browse through them here.

Also read: Converting Leasehold Property In Delhi Into Freehold Will Now Cost More

How much do these homes on rent cost? The broad price range would be anywhere between Rs 11,000 and Rs 15 lakh per month. For the varied lifestyle choices that people in Delhi make, budget homes on rent and luxurious bungalows are not uncommon. These homes are also offered as paying guest accommodations or offered to run small businesses, film shootings, etc. These are also a hit among single professionals looking for a swanky lifestyle on a shared basis.

You may want to read How To Find A Good Tenant

New launches at affordable prices

There is no dearth of new launches in Delhi that are affordable, too. These properties are essentially launched at places where prices are maturing but at a slower pace. These include Uttam Nagar, certain sectors of Dwarka, Burari, Jasola, Gautam Nagar, etc. Click here for a full list.

It may be important to caution home buyers at this juncture. However, make sure that you have all the documents and property approvals in place. A lot of unauthorised constructions move in the market with the only attraction that these have a cost advantage. Such homes are in plenty especially near prominent business districts.

Also read

Giving Your Property On Rent? This Checklist Would Come Handy