Top 3 most affordable localities: Delhi
If you are looking for an affordable property with excellent connectivity and good social and physical infrastructure, the following are three localities:
Uttam Nagar:
Uttam Nagar is one of the most affordable colonies located in West Delhi. It has originated as a collection of unauthorized colonies with no basic amenities. However the Delhi government has taken many initiatives to develop the basic physical infrastructure of Uttam Nagar. Uttam Nagar enjoys many advantages as a locality in one of the prime locations of Delhi. Its proximity to Gurgaon, Dwarka, Janakpuri and Vikaspuri has played a major role in the booming the real estate demand of Uttam Nagar. But being originated as a collection of unauthorised colonies, it still has its major demand from the middle-income and low-income groups. The properties available being not luxurious such as Janakpuri and Vikaspuri, but enjoy the similar connectivity advantages made it a good locality of affordable properties. Uttam Nagar has metro connectivity which is the most suitable mode of transportation for middle and low income groups. The district centre located in Janakpuri and the commercial establishments near-by make it a comfortable locality.
The prices in this area are comparatively low when compared to the adjacent localities. Major share of the properties in Uttam Nagar is 1BHK and 2BHK units in the price range of Rs 3000-5000 per sq ft. 3BHK properties are available but in less number in the range of Rs 5000-6000 per sq ft.
Laxmi Nagar:
Laxmi Nagar is a locality preferred by many students in Delhi. This is considered as the most suitable locality for students due to its proximity to ITO and Noida. Metro connectivity boosts the real estate demand to a high extent. Laxmi Nagar being a hub for CA classes and institutes in Delhi, many students prefer staying in there. Laxmi Nagar being connected by Delhi through Vikas Marg, and its proximity to ISBT due to metro adds to its demand. This is a good location for people who want a good rental yield in a suitable range of investment. There are commercial establishments, restaurants and eateries throughout the area.
As per the data, the sale values here for 2BHK and 3BHK units are in the range of Rs 6000-9000 per sq ft. Since the demand of 4BHK is less, there are hardly any properties in this configuration.
Saket:
Saket is another locality which is preferred by students due to its location attributes. It is situated in the southern part of Delhi in surrounded by Inner Ring Road and Outer Ring Road which provides excellent connectivity to most of the prominent places in Delhi. Its proximity to Vasant Kunj, Gurgaon, AIIMS, IIT, Delhi university south campus and Airport is the major cause for the demand in real estate. Three famous malls located in the Saket are city level facilities which attract a lot of people. Many restaurants and eateries are established in and around Saket which makes it the preferred location. Metro connectivity to Gurgaon and North Delhi also adds to its advantages.
According to the available data in CommonFloor.com, 3BHK and 2BHK properties are available in the range of Rs 10000-18000 per sq ft. Major percentage of properties are in the 3BHK configuration making it an affordable location not just for students, but also for families.
