South Delhi’s Realty Potential Reaches Rs 5.65 Lakh Cr: Report
South Delhi’s Realty Potential Reaches Rs 5.65 Lakh Cr: Report
South Delhi is predominantly inhabited by the wealthy class comprising businessmen, lawyers and salaried professionals with taste for luxurious floors and villas - Ankur Jalan, CEO, Golden Growth Fund
New Delhi: The real estate potential of South Delhi, one of the poshest regions in the country, is worth Rs5.65 lakh crore now — thus becoming an ideal location for homes that offer exclusive and luxurious living experiences, a report showed on Wednesday.
The real estate potential of 13 category-A colonies in South Delhi is worth Rs 2.14 lakh crore, accounting for nearly 40 per cent share, according to the report by Golden Growth Fund (GGF), a category-II real estate focused Alternative Investment Fund.
The real estate potential of 27 Category-B colonies is worth Rs3.21 lakh crore, accounting for nearly 60 per cent share.
The average price of plots in Category A colonies ranges from Rs7-15 lakh per square yard, while that of Category B colonies ranges from Rs6-12 lakh per square yard.
According to the report, around 18,446 plots are available across the 42 Cat A, B and C colonies in South Delhi, whose size ranges from 125 sq. yd. to 1750 sq. yd. at an average price of Rs 6- 15 lakh per sq. yd. The Municipal Corporation of Delhi (MCD) has divided all colonies of Delhi under eight categories – A, B, C, D, E, F, G and H.
Category A and B being the most exclusive locations, which are located in South Delhi. Circle rates, property tax rates and stamp duty charges for property registration are based on these categories.
