Defence Colony lane joins elite list of high streets
D-block of Defence Colony in the capital city of Delhi is emerging as a high street, housing many top brands and designers. The locality is a crowded by-lane off the Defence colony. A number of popular brands have set up or moved their existing business to the area, as it offers them an option of profitable business, with less investment.
The lane is one of the best places to visit in the city to buy luxury products . It acts as a service destination with stores like Swarovski lighting store, Ekaya, Moonriver (lifestyle store that sells premium fashion, fragrances and home décor), Godrej Nature’s Basket and Looks beauty salon.
In addition to the above mentioned spaces, the street is today occupied by major stores that feature world-class brands like Dolce & Gabbana, Stella McCartney and Alexander McQueen. International designers’ stores like Tarun Tahliani, JJ Valaya and Rohit Bal are also lined up along the lane. These shops offer an altogether different experience from the standard malls, while ensuring that no compromise is made on the quality of product or services. Most of these stores offer valet parking services too.
The demand for space on the lane is rapidly growing, owing to the benefits which the place offers to the investors. Easy connectivity to all parts of the city and low rental values are two of the main reasons why the place has become highly preferred among international brands, which were earlier concentrated to malls like Select Citywalk, Emporium and the others. The fact that the brand signatures are visible from the street, unlike a mall, where only a couple of tenants get street-visible branding, also adds to the advantages of setting up business on this lane.
Connectivity :
D block of Defence Colony is well-connected to other important areas of the National Capital, through roads and the metro. DTC buses ply to this locality frequently from almost all parts of the city. The nearest metro station to the area is Lajpat Nagar, which lies at a distance of about 350m.
Price Trends :
Defence colony is one of the most affluent localities in South Delhi. The area is well-known for the Defence Colony market that is famous for its hotels and restaurants. It is one of the preferred dine-out options, amongst the high-class. With the rise of quality and world-class services and facilities in this area, real estate prices of both commercial as well as residential spaces, are sure to shoot up here.
As per market reports, the sale price of multistorey apartments and builder floor apartments during the first quarter of 2013 witnessed a depreciation of about 2%, when compared with the same period of 2012. However, rental prices of both the types of apartments witnessed an appreciation of about 10-14% in the first quarter of 2013, when compared to the rates prevalent during the first quarter of 2012.
