Greater Kailash I

Greater Kailash, also popularly known as ‘GK’, is a residential settlement found in the southern region of Delhi. Paved into several neighbourhoods and markets, this locality is divided into two zones – Part 1 (GK 1) and Part 2 (GK 2). It is further divided into blocks that are named alphabetically. There are myriad schools, hospitals, cafes, places of worship, malls and portions of greenery to break the monotony in the area’s structure.

The M and N blocks have the major markets in this area and in addition to these, there is the presence of mid-sized hotels, banks & ATMs, hospitals, eateries and some high-end retail showrooms. The people of this area are mainly from middle class and upper class families and see a good number of expatriates settling in due to its proximity to the Nehru Place.

For a residential area, Greater Kailash is in the vicinity of green expanses like the Jahanpanah City Forest and it is also in close proximity to the Jim Corbett National Park. Seeing its fair share of development and urbanisation, the area is saturated on the residential front. It is packed to the corners with independent houses, apartments, builder floors and villas. Yet, the realty value for property in this locality is just as valuable.

Connectivity & transit points

With close proximity to the Outer Ring Road and the Asian Highway 1 (AH 1), Greater Kailash has fair accessibility to the rest of Delhi. There are arterial roads that adjoin the Lala Lajpat Rai Road towards the North East, Josip Broz Tito Marg towards the West and Gamal Nasser Abdel Marg towards the South. The modes of public transport in this locality are cycle rickshaws, auto rickshaws, buses, taxis and the metro rail, connecting Greater Kailash to the northern parts of Delhi.

Greater Kailash is set 17 km away from the domestic airport and 22 km from the Indira Gandhi International Airport. The Nizamuddin Railway Station is approximately 9 km away from this locality and the New Delhi Railway Station is around 15-16 km away.

Major landmarks

•          Schroff Eye Centre
•          Summer Fields School
•          M Block Market
•          Cafe Coffee Day
•          Kailash Colony Park
•          B Block Park
•          S Block Park
•          Costa Coffee

Factors for growth in the past

The establishment of the Metro caused a great deal of convenience to the major areas in Delhi and Greater Kailash is one among them. This helped ease traffic conditions and provide better transportation facilities. The commercial front saw a sizable expansion with the establishment of shopping complexes and malls, in turn making Greater Kailash most desirable on the realty radar.

The arrival of major brands taking up the retail commercial space in the M and N Block markets contributed a great deal to the locality. The government also contemplated amending the problems involved with parking by constructing multi-storey parking facilities.

Residential market trends

The residential sphere in Greater Kailash is up to the brim with respect to property developments. There is an abundance of apartments and independent houses in the residential culture over other types of housing facilities. There has been a spike in Builder floors in Greater Kailash, aiding vertical development. The first quarter of 2014 (Jan-Mar) have been marked with a sale price for multistorey apartments in Greater Kailash are ranging between Rs 14,400-21,300 per sq. ft.

Commercial market trends

The commercial markets have seen sizable benefits with the onset of malls and shopping complexes. There is a mass availability for retail office space with an average rental price of Rs 120 per sq. ft.

Major challenges

The locality of Greater Kailash has faulty traffic conditions that lead to road blocks and add to the pollution level. There have been quite a number of parking problems in South Delhi which extends to Greater Kailash as well. The unavailability of land has caused a great deal of problems starting with the exorbitant prices of sale and rent. Many companies have moved away from Greater Kailash towards Gurgoan which has resulted in the relocation of many executives.                                        

Future prospects for growth

The locality of Greater Kailash has seen a good amount of vertical development which will mostly be the future trend in the locality. This would lead to a spike in the construction of builder floors. Although the development of the residential areas has reached a certain limit, Greater Kailash would most probably experience an embellishment in the existing residential settlement. The locality will also be a part of the proposed scheme to enhance parking facilities in South Delhi, to reduce illicit parking. The commercial front will see potential growth owing to the residential maturity, leading to the development of malls, restaurants and other retail establishments.