Uttam Nagar

Uttam Nagar is a well-connected residential locality in West Delhi. It’s situated just off the road that connects Vikaspuri and Dwarka. It was formed fairly recently, in 2008, as a result of recommendations made by the Delimitation Commission of India.

 

Several malls, stores, eateries, and educational institutions are within walking distance of this locality. It’s connected to the rest of Delhi both by roads and the Blue Line of the Delhi Metro.

 

Connectivity and Transit Points

 

Uttam Nagar is located such that it’s possible to access a number of important areas without too much hassle. It’s quite near toIndira Park, Shankar Garden, Jeevan Park, Om Vihar, Mahindra Park, Bindapur, and Vikaspuri.

 

Gurgaon is less than an hour’s drive away from Uttam Nagar.

 

The locality is only 12 km from the Indira Gandhi International Airport, which is only about a 30-minute drive or an hour by metro. It’s also only around 7 km from the Palampur Railway Station, which puts it at a 20-minute drive away or a 40-minute metro trip.

 

There are two metro stations in this locality, Uttam Nagar East Metro and Uttam Nagar West Metro. Besides the Metro, Red and Green Line buses also ply the route from Uttam Nagar to the rest of Delhi. Auto-rickshaws and cabs are very common over here and can be availed easily.

 

Major Landmarks

 

●     Vikaspuri Police Station

●     Uttam Nagar east Metro

●     Uttam Nagar West Metro

●     Netaji Subhas Institute of Technology

●     M.C.D Cremation Ground

 

Factors for Growth in the Past

 

The Uttam Nagar Metro line was inaugurated in 2006 and since then millions of people have used it over the years. It’s an integral part of Uttam Nagar and has contributed significantly to its growth and development by making commuting simpler. Naturally, people preferred Uttam Nagar as a locality to live in since travelling wouldn’t be a hassle.

 

The 2010 Commonwealth Games contributed significantly to growth here as plenty of infrastructure development was set in motion.

 

Residential and Commercial Market

 

Residential Market Trends

 

Average apartment prices in Uttam Nagar have steadily increased over the years. The third quarter of 2013 was a high point with average prices at around Rs 5,900 per sq. ft. However, prices declined for the next two quarters, with an all-time low at Rs 5,100 in the first quarter of 2014. Prices are currently more or less the same at about Rs 5,050 per sq. ft. as of Q2 2014.

 

Average rental rates right now range from around Rs 5,800 to Rs 6,700 for a 1 BHK apartment and around Rs 8,000 to Rs 10,500 for a 2 BHK apartment for rent in Uttam Nagar.

 

The price of residential land in Uttam Nagar has been on the rise over the last few quarters. It currently averages Rs 1,21,500 per sq. yd., as of Q2 2014.

 

Commercial Market Trends

 

There are a large number of commercial spaces, both for rent and sale in Uttam Nagar. Being a prime locality, the rental prices for commercial spaces are quite high, being anywhere between Rs 33 per sq. ft. to 125 per sq. ft., depending on the location of the property.

 

Buying commercial property in Uttam Nagar, on the other hand, can cost anywhere from Rs 18,000 per sq. ft. to Rs 50,000 per sq. ft., depending on the location.

 

Major Challenges

 

During certain parts of the year, power cuts are common in this area and can be disruptive to everyday life. Most electricity related problems can be traced back to aging infrastructure. Putting better infrastructure in place would go a long way towards fixing the power shortages.

 

Traffic jams are prevalent at peak hours and can be immensely frustrating, although the public transport systems alleviate this to some extent. The problem is exacerbated by parked buses and vendors who line the roads.

The roads are poorly maintained and the monsoon wreaks havoc with asphalt, and potholes are common at this time of the year. Better systems are needed to make and maintain better roadways.

Factors for Growth in the Future

As property in other localities of Delhi becomes more expensive, property in Uttam Nagar will witness, as it already has before, an influx of migrants. With a larger population, comes more infrastructure and commercial opportunities.

Its prime location, and proximity to the offices of major companies, ensures that the locality will keep growing. The metro also adds to the value of the locality.