Vasant Kunj

An affluent neighbourhood, Vasant Kunj is one of the most posh localities in New Delhi. Located in South Delhi, the area is home to several prominent personalities, one being the former Prime Minister of India, Manmohan Singh. The locality is divided into five sectors with the well-to-do living in Sector C of Vasant Kunj.

Vasant Kunj was once a farmland acquired by the government in 1960s when the then Prime Minister - Jawaharlal Nehru - approved the project.  The areas surrounding Vasant Kunj consist of farmlands and the area is famous for palatial farmhouses. The locality is surrounded by greenery, with the South-Central Ridge of the Delhi Ridge encompassing the area.

Mainly a residential area, Vasant Kunj has seen a lot of activity in the commercial real estate space. The key commercial markets near Vasant Kunj are Nelson Mandela Marg and Masoodpur village, while the locality also has several supermarkets like Big Bazaar, City Bazaar, and Central Plaza.

Vasant Kunj also has several renowned hospitals like Fortis Ranjan Dhall Hospital, Indian Spinal Injuries Center and Institute of Liver and Biliary Sciences. DPS Vasant Kunj, The Heritage School, and Ryan International School are just a few of the many prominent educational institutions in the area.

Connectivity and Transit Points

The locality is connected to other regions of New Delhi by road and by Metro rail. The Delhi Transport Corporation has bus services from Vasant Kunj to important locations in New Delhi like Connaught Place, Nizamuddin Railway Station, Red Fort, and several other regions of New Delhi.

People travelling from Vasant Kunj can also use the Metro rail, with the nearest station being the Chhatarpur metro station, which is 7 km from here. One can also hire taxicabs or auto-rickshaws to commute from the locality.

Two of New Delhi's major railway stations, the Nizamuddin Railway Station and New Delhi Railway Station are 20 km and 23 km away respectively, while the Indira Gandhi International Airport is situated only 6 km from the area.

Major Landmarks

•          DLF Promenade
•          Sultan Ghari
•          Japanese School New Delhi
•          Aravalli Biodiversity Park
•          Jagannath International Management School
•          Vasant Vatika

Factors for Growth in the Past

The key factors for the growth of this locality in the past were the planned nature of the area, and the good physical and social infrastructure. The locality is also very close to the Indira Gandhi International Airport and the commercial hub of Gurgaon.

The proximity to the upmarket Vasant Vihar locality has also played a part in the growth of Vasant Kunj. In recent years, it has also seen tremendous growth in the commercial space, which has made this locality an even more sought-after locality. The presence of numerous schools and hospitals in the locality has also influenced this prime area’s growth.

Residential Market & Commercial Market

Residential Market Trends

The residential property market in Vasant Kunj mainly consists of low-rise apartments. The locality is home to several well-known faces, from celebrities to politicians and bureaucrats. Vasant Kunj has houses built by the Delhi Development Authority (DDA), as well as houses by private builders. The locality has some of the highest residential realty prices in New Delhi.

The past few years has seen the prices in this locality escalating to high levels. The price of apartments in Vasant Kunj in Q1 (2014) ranged between Rs 14,500 and Rs 17,500 per sq. ft., while the rental value was between Rs 25 and Rs 28 per sq. ft.

Commercial Market Trends

Vasant Kunj, which was primarily a residential market, has now become a commercial hub, with several malls like the DLF Promenade & Emporio and Ambience Mall. The rental value of commercial property in the area for Q1 (2014) was between Rs 104 per sq. ft. and Rs 132 per sq. ft.

Major Challenges

One issue faced by residents of Vasant Kunj is that of overgrown trees, which is endangering the lives of the residents during the rainy season. On numerous occasions, the trees in the area have been uprooted because of strong winds and has caused damage to vehicles in the area.

Vasant Kunj also faces a traffic problem, with uneven roads and less parking space adding to the woes of the residents of the area. Inadequate street lighting is another issue faced by residents of the area.

Factors for Growth in the Future

The Delhi government has made plans to build a new road to the Indira Gandhi International Airport, as well as widenMehrauli-Mahipalpur Road to decongest the roads leading to the airport from South Delhi. These projects are bound to affect the growth of the locality as the roads provide better access to South Delhi, and in particular to the Vasant Kunj locality.