Rental demand in Delhi’s Panchsheel Park rises
Delhi/NCR- Although there have been various new projects coming up in the Delhi-NCR region, the rental rates have still been increasing in many areas with Panchsheel Park as one of the posh areas with increased rental rates. In the last quarter, the area has witnessed an increase of about 24 percent in residential units.
According to real estate experts, most posh areas with luxurious properties in Delhi-NCR are still capable of driving the rental market, be it Noida or Gurgaon.
Talking about the increased demand of rental rates in Delhi’s Panchsheel Park, top notch professionals have been a major part of this change. Most professionals prefer this zone as it is a peaceful and serene area and is situated in the prime location of South Delhi. However, this area houses HNIs with luscious and serene environment.
There have also been a fast paced development in the city block like N, E and S. Also easy access to the neighbouring markets and areas has made the location a hot spot for investment. The blocks N has residential houses with an area of 800 and 1200 sq yd and the block E has houses in 311 and 500 sq yd space with block S 280-300, 500 and 800 sq yd respectively.
As per the locality, the property price of a 500 sq yd old construction on rent is offered at Rs 80,000-1.25 lakh and Rs. 2-2.15 lakh for new constructions and rents. However, the area has very less number of 800 sq yd old projects. Projects which are launched newly in the same area are priced between Rs 3.50-4.50 lakh.
Employees working in firms like embassies, MNCs or with higher ranks who are paid quite big amounts have been renting houses in Panchsheel Park. Also that this area is very closer to Gurgaon and Noida and is just 40 minutes away.
Not just this, the area is also in close proximity to Panchsheel Club which has an array of retail stores as well. And popular areas like Hauz Khas, Anand Lok, Defence Colony and Connaught place are just minutes away from here. Residents here also have an easy access to railway station and airport along with banks, hospitals, parks and schools.
Read more real estate news
Property price are higher in Delhi – NCR
‘NCR’ biggest market space in India, reports Knight Frank
Connaught Place, Delhi-NCR region, delhi/NCR, increased rental rates, Noida or Gurgaon, Panchsheel Park, properties in Delhi-NCR, properties in panchsheel park, Real estate experts, rental rates in Panchsheel park, rentals rates, Residential houses
