South Delhi Real Estate: Affordable Home Solutions

Published: 16th February 2006
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Surrounded by upmarket Malviya Nagar, Sheikh Sarai Phase I and villages like Begumpur, Hauz Rani and Savitri Nagar, South Delhi Khirki Extension is home to a large number of builder apartments, as a result of people with plots for building independent houses having sold out to the builders. Although, a large number of builder flats are available in Khirki Extension, there are very few independent houses up for sale.

In the last year, Khirki Extension has seen real estate prices rise by 25 to 30%, though rents have remained more or less the same. If one is looking to buy a piece of property here, it will cost as follows:

1. 1-bedroom apartment built on 50-sq. yds = Rs. 5 to 6-lakhs.

2. 2-bedroom apartment built on 70 to 80-sq. yds. = Rs. 9 to 12-lakhs.

3. 3-bedroom apartment built on 100 to 125-sq. yds. = Rs. 14 to 20-lakhs.

4. 4-bedroom apartment built on 150 to 200 sq. yds. = Rs. 25 to 30-lakhs.

The colony does offer parking space with the only difference 1-bedroom apartments come with parking space for a scooter while 2-bedroom apartments and upwards have car parking areas. Another point to be taken into consideration is that apartments in close proximity to Malviya Nagar command a higher price, while going further into the colony sees an appreciable drop in price.

With several schools, hospitals, private clinics in the area, the cinema loving residents of Khirki Extension will have to go to Saket to watch the latest offering, while for shopping they will have to frequent the main market of Malviya Nagar for shopping requirements. While shops located on the ground floor of builder apartments within the colony provide the residents with daily necessities. The colony has a regular supply of electricity, but the water supply is comes from bore wells in the area. Though, it is only a matter of time before Delhi Jal Board provides the colony with a regular water supply.

Weighing the pros and cons of locating to Khirki Extension, congestion is a negative point; on the plus side, real estate prices are much lower than the rest of South Delhi. For example, for a 2-bedroom apartment in Malviya Nagar, you would have to fork out Rs. 22 to 25-lakh compared to Rs. 9 to 12-lakhs in Khirki Extension. Chattarpur Extension, another colony offering comparable prices lacks sewerage facilities and roads, besides the distance is much more.

Khirki Extension is, perhaps, one of the few South Delhi colonies still able to provide affordable homes!

This article is sponsored by: www.indiarealestateblog.com


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