Rental Analysis of Lajpat Nagar
Lajpat Nagar situated in the south central part of Delhi is one of the oldest and most prominent localities in terms of both commercial and residential real estate. Most of the properties available in this locality are either builder floors or individual houses. Majority of the properties here are available on rental basis. Due to its locational advantages, many people choose to stay here for long term and short term depending upon the purpose.
Lajpat Nagar enjoys excellent connectivity to major commercial and recreational areas. Major roads which enhance the connectivity of Lajpat Nagar includes Lala Lajpat Rai Road, Inner Ring Road and Mathura Road. These three roads make Lajpat Nagar accessible to most of the localities in Delhi. It being situated in the centre of the city, has a disadvantage with its connectivity to Gurgaon, Noida, Greater Noida, Ghaziabad and Faridabad. But the locality also enjoys its proximity to prominent areas such as AIIMS, Jawaharlal Nehru Stadium, Jangpura, Greater Kailash, South Ex and Defence colony. Other than its locational benefits, Lajpat Nagar also has metro connectivity which enhances the ease of access to southern and central areas in Delhi. Being one of the oldest localities in Delhi, Lajpat Nagar is also connected through local railway network. Although its proximity to Nizamuddin Railway Station and New Delhi Railway Station is an advantage, Indira Gandhi international airport is located as far as 20 kms from Lajpat Nagar.
Even in the terms of social infrastructure provisions of the locality, Lajpat Nagar is considered as a good option. People from all over the region visit Lajpat Nagar for specific shopping purposes. It has malls, multiplex, restaurants and other shopping options. So considering the above benefits, Lajpat Nagar is excellent locality both in the terms of its connectivity and social infrastructure.
Lajpat Nagar has abundant properties for rent in all the segments. Rental market in Lajpat Nagar has been witnessing an upward trend in past few years. 1 BHK properties are available for rent in the range of Rs 10,000-40,000 per month depending upon the facilities provided. The rent varies due to the furnishing property and its access to major roads. Lajpat Nagar has high demand for 1 BHK properties. 2 BHK properties are available for rent in the price range of Rs 17,000-45,000 rent per month. 3 and 4 BHK properties are available for rent at a price range of Rs 40,000 to 1 lakh per month. This high rent is mainly due to the limited supply of these properties.
