Top Notch Professionals Driving Rental Values in Panchsheel Park
Some of the localities in Delhi have emerged as highly promising and have always enticed buyers and tenants to live in, one such example is Panchsheel Park. The article discusses about the real estate scenario of the Panchsheel Park, Delhi. Read on to explore more about the locality!
No matter how many few projects are being launched in the newly developed areas of the national capital region, the posh and already developed areas in Delhi are still experiencing increased rental rates! Panchsheel Park is among these localities which have seen booming rental values. According to the market experts, the rental values of residential properties particularly went up by more than 25% in the past one year! If the market sources are to be believed, localities in South Delhi will certainly give competition to the premium housing segments being introduced in Noida and Gurgaon.
Now the question arises that why these localities have been in high in demand and what are the factors driving such demands! The main factor being the location and the calm and silent neighborhood, which areas like Panchsheel Park offer!Â Being a prime locality in South Delhi, Panchsheel Park is home to professionals and aristocrats as well. A property in Panchsheel Park brings in the advantages of living in green ecosystem and peaceful environment, which is the major factor for enticing buyers as well as tenants.
The market analysts also suggest that N, E and S Blocks of Panchsheel Park have witnessed positive trends particularly in the recent times. These blocks are close to the market area and offer easy access to other localities make these blocks favorable for many. Talking about the homes, the N Block comprises residential units which are constructed in an area of 800 and 1200 square yard. The E Block and S Blocks are comparatively smaller, which includes homes built in an area of 311 & 500 square yard space, and 280-300, 500 and 800 square yard spaces respectively.
The rentals of the properties in Panchsheel Park are increasing remarkably. An old construction of 500 square yard can fetch Rs. 80,000-1.25 lakh, while the newly constructed flats of same built up area usually are rented at no less than Rs. 2-2.15 lakh! One may not find too many homes which are constructed in a total area of 800 square yard, but the available newly constructed properties of the same built up area can be taken on rent by paying a whopping amount of Rs. 3.50-4.50 lakh.
The demand for such costly properties mainly come from the professionals holding higher ranks in the companies, people working in embassies, government officials holding higher ranks and MNC employees. A mid-income professional can certainly never think of taking such costly homes on rent and prefer going for a rental property in Jail Road, Karol Bagh, Chhatarpur and others!
Other factors that have added to the value and demand of properties in Panchsheel Park are its proximity with Noida and Gurgaon. A number of top notch officials working on these cities prefer renting homes in Panchsheel Park. It is also not too far from the famous Panchsheel Club and the residents can enjoy shopping in the markets in the areas around the Panchsheel Club. Localities like Hauz Khas, Andrews Ganj and Defence Colony are just nearby, while the heart of the city, Connaught Place is located only 15 minutes away from Panchsheel Park. One can have an easy access to domestic and international airports and New Delhi Railway Station. The area is well surrounded by big parks and has healthcare centers, schools and banks in the nearby areas.