Property and Rental Rates in Delhi (NCR)

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Delhi’s Real Estate market has been in a bit of a slump lately. According to statistics published by Livemint, Mumbai and Bangalore grew by 7.5% and 5.75% respectively during the 2013-2017 time period.

Delhi had a negative growth of 0.70% during the same time period.

If you are looking at real estate from an investment point of view, then you are in for a harsh truth. The market in Delhi has bottomed out and the previous prices that were inflated are currently stagnant. A lot of you might have the question “When will property prices rise again in Delhi?” The answer is not soon. 

But, if you are in the market for a house to live in or to just rent out. Then you are in luck. The prices are as low as it can be and its the perfect time to put some cash into a house.

Property and Rental Rates in Delhi Area Wise

Localities Property Rate(1BHK – 3BHK) Rental Rate(1BHK – 3BHK)
Saket 86L – 2CR 18K – 60K
Greater Kailash 1CR – 2.8CR 22k – 87K
Vasant Kunj 80L – 2.14CR 15k – 60k
Lajpat Nagar 45L – 2.2CR 14k – 42.5K
Vasant Vihar 5C – 11C 33k – 78k
Rajouri Garden 50L – 2.5C 16k – 65.5k
Punjabi Bagh 20L – 84L 15K – 45K
Chanakyapuri 4.5C – 18C 75K – 3L
Model Town 75L – 3C 15k – 60k
Mayur Vihar 61L – 1.65C 9k – 34k
Rohini 62L – 1.66C 15k – 60K
Uttam Nagar 11L – 33L 9K – 32K

 

Saket

delhi property rates

Saket is a premium residential area in Delhi and it is a hub for residential and commercial activity. Divided into blocks, Saket has independent houses and multi-storey apartments.

A big landmark is the Saket Sports Complex that has a slew of sporting facilities like Cricket Grounds, Badminton and Tennis courts. This is a big attraction for those residents who want to pursue a healthy lifestyle.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 86,44,800 18,000
2 BHK 1100 1,58,48,800 34,000
3 BHK 1600 2,30,52,800 60,000

 

Greater Kailash

delhi rental prices

Greater Kailash is a truly a hub of activity in Delhi. It’s split into two sections Greater Kailash – I and Greater Kailash – II.

Greater Kailash has a good mix of residential and commercial properties. It’s very popular for its designer boutiques and shopping centres.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 1,06,80,600 22,000
2 BHK 1100 1,95,81,100 46,500
3 BHK 1600 2,84,81,600 87,100

 

Vasant Kunj

delhi property and rental rates

Vasant Kunj is a commercially active locality of Delhi. It’s an upmarket area with high real estate prices. It has a mix of beautiful designer boutiques, large malls and beautiful residential areas.

The DLF promenade mall is one of the biggest and popular commercial properties in Vasant Kunj.

The residential area is divided into sectors – A, B, C, D and E.

Vasant Kunj has a strong community that it has its own Yellowpages called the Vasant Kunj Informer and Shopper.

Many companies such as Bloomsbury India, ONGC, Bharti Airtel have their head offices in Vasant Kunj.

There is a good collection of schools in Vasant Kunj such as Ryan International School, G.D Goenka Public School and Delhi Public School.

Vasant Kunj also has a large sporting complex that offers various sporting facilities.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 80,58,000 15,000
2 BHK 1100 1,47,73,000 29,000
3 BHK 1600 2,14,88,000 60,000

 

Lajpat Nagar

property prices delhi

Lajpat Nagar is a buzzing area of South Delhi that has history since the ’50s. Now it has turned into a residential epicentre with residents from all parts of the country and the world. Property rates in South Delhi, especially areas like Lajpat Nagar have remained the same. 

Lajpat Nagar is accessible and has access to other parts of Delhi through various public transport.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 45,00,000 14,000
2 BHK 1100 1,10,00,000 25,000
3 BHK 1600 2,20,00,000 42,500

 

Vasant Vihar

rental prices delhi

Vasant Vihar’s proximity to Chanakyapuri has made it a posh residential locality in Delhi. The locality is divided into blocks – A to F. Each block has its own market and numerous parks. Its one of the costliest localities in Delhi to buy a house.

It has the distinction of being the location of India’s first Mcdonald’s. It has the head office of Hero Motor Corp.

It has numerous schools such as Modern School, Delhi Public School And The Shri Ram School.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 5,00,00,000 33,000
2 BHK 1100 8,00,00,000 55,000
3 BHK 1600 11,00,04,000 78,500

 

Rajouri Garden

affordable property delhi

Rajouri Garden is a major residential hub of West Delhi. It’s most famous for the Nehru Market and Main market. These two markets give value to the area.

Rajouri Garden has predominantly a Punjab population and a lot of affluent businessmen and women call this place home.

It has a good mix of high income and middle-income people. It has a metro station on the blue line and also has numerous multiplexes and malls such as TDI Mall, West Gate Mall, Pacific Mall.

As Hauz Khas is facing heat with closures of restaurants and pubs, Rajouri Garden has attracted young party goers to the area that has boosted commerce and increased the commercial value.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 50,00,000 17,000
2 BHK 1100 1,20,00,000 35,000
3 BHK 1600 2,50,00,000 65,500

 

Read also: Top 15 areas to Live in Delhi (NCR) For Job Seekers

Punjabi Bagh

affordable rental delhi

Located in the western part of Delhi. Punjabi Bagh has a lot of history. During the partition, a lot of Hindus and Punjabis migrated from Western Punjab. Now it is a a large residential locality with many affluent families living in the area.

The commercial side of Punjabi Bagh has grown and improved over the past 20 years. Many premium retail shops have set-up shop here.

Although the area mostly has bungalows, there are also apartments in the area. The area has a lot of schools such as Hans Raj Model School which celebrated its 50 year anniversary.

Punjabi Bagh has an ISKCON temple in its western side and also has a club that offers facilities such as swimming, tennis squash among others.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 20,00,000 15,000
2 BHK 1100 42,00,000 30,000
3 BHK 1600 84,00,000 45,000

 

Chanakyapuri

posh property delhi

Chanakyapuri is a top area in Delhi that is the diplomatic hub of the capital. It has a lot of embassies in its vicinity. Its also the area of residence for many politicians, bureaucrats and civil servants. For this reason, it’s safe to say Chanakyapuri is a safe locality.

It was the first area to have developed to de-congest Lutyens. It became a big residential hub after land was allotted to high commissions, ambassadors and other diplomats.

There are numerous parks and greenery surrounding the area. The roads are wide and clean that enable a smooth flow of traffic.

It is also a hub for architecture with various embassies embodying their culture and their distinct styles are represented in the building architecture.

There are a few international schools located in this area such as American Embassy School and the British School.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 4,50,00,000 75,000
2 BHK 1100 9,00,00,000 1,50,000
3 BHK 1600 18,00,00,000 3,00,000

 

Model Town

posh rental houses delhi

Model Town was one of the first few areas developed by DLF way back in the 50’s. It is sub-divided into blocks.

Model town is neighboured by areas such as Pitampura, Derawal Nagar, Badli, Shalimar Nagar among others.

Some of the top landmarks in Model town that attract a lot of people are Coronation Park, Tripolio Gateway, Badli Ki Serai and Roshanara Garden.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 75,00,000 15,000
2 BHK 1100 1,50,00,000 30,000
3 BHK 1600 3,00,00,000 60,000

 

Mayur Vihar

residential property delhi

Mayur Vihar is an area in Delhi that is in the Eastern side of the city that is close to the Noida-Delhi border. For this reason, it’s one of the most sought after residential areas in the city. Although it is quite popular, the cost of rental and purchase have stayed affordable throughout the years.

One of the reasons for its affordable price is the age of the locality. Set-up in the late 70’s a lot of the establishments are old, but the residential aspects of the area are quite new.

Phase 1 of Mayur Vihar is known for its sprawling parks and greenery.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 61,97,400 9,000
2 BHK 1100 1,13,61,900 18,000
3 BHK 1600 1,65,26,400 34,000

 

 

Rohini

house for rent delhi

Rohini is a sub-area that is located in the North West of Delhi. It was initially created 20 years back to reduce the stress of the main city. It has become quite a residential hub and its close to the ring road.

It’s also the second largest sub-city after Dwaraka. The residential colonies in Rohini are well maintained and there are beautiful parks surrounding the localities.

The metro connectivity has boosted the cost of real estate prices in Rohini. There are many popular malls and markets in the locality with the most popular being the Metro Walk.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 62,37,600 15,000
2 BHK 1100 1,14,35,600 32,500
3 BHK 1600 1,66,33,600 60,000

 

Uttam Nagar

property and rental rates delhi

Uttam Nagar is a growing hub in the west of Delhi. The urbanization of Uttam Nagar has happened over the last few years and it has skyrocketed due to the development of the Metro there.

Uttam Nagar’s speciality is its proximity to the International Airport and Gurgaon. Although it’s an up and coming area, its infrastructure is a cause of concern and in some areas, it is quite congested.

The biggest shopping centre in this area is the District Centre. Another top mall is Unity One.

House Size Sqft Cost of Purchase Rental Rates
1 BHK 600 11,00,000 9,000
2 BHK 1100 22,00,000 18,000
3 BHK 1600 33,00,000 32,000

 

Just like most cities, Delhi has areas that are rich, popular and expensive and areas that are reasonably priced and upcoming. Having said that, this is the perfect time to invest in a house from an ownership standpoint and not an investment standpoint. Property rates in east delhi have remained constant and that is another reason to establish a nest egg.

Delhi is still attractive from a cost of living standpoint and attracts many professionals and has splendid infrastructure like schools and colleges.

Considering NCR’s rapid growth, Delhi’s real estate market is expected to grow in the recent future.

Related:

Property and Rental Rates in Bangalore

Property and Rental Rates in Mumbai