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Apartments in Uttam Nagar appreciate by 10%

Uttam Nagar

Situated in the western region of New Delhi, Uttam Nagar is one of the most sought after realty destinations in Delhi NCR. Being an assembly constituency, the neighbourhood consists of many remote villages and has many sub-localities like Om Vihar, Kiran Garden, New Uttam Nagar, Sanjay Enclave and Mansa Ram Park.

Encircled by Dwarka in the west, Janakpuri and Vikas Puri in the east, Hastsal village in the north and Bindapur in the south, Uttam Nagar is cited to be one of the most densely populated residential localities in the NCR.

Connectivity

• Situated just off the main road that links Dwarka to Vikaspuri, the locality is well connected to other parts of west Delhi
• Part of the Blue Line of Delhi Metro, the vicinity boasts of having seamless connectivity via rail and road
• The vicinity has 3 metro stations, Uttam Nagar East, Uttam Nagar West and Nawada
• The Metro line that was established in 2005 has provided easy access to areas like Connaught Place, Dwarka, Noida, Vaishali and Anand Vihar ISBT
• State owned buses and many private taxis, auto rickshaws and cycle rickshaws improve intra-connectivity
• Some of the arterial roads that pass through Uttam Nagar include Najafgarh Road, Hastsal Road, Bindapur Matiala Road and Old Pankha Road
• While the Delhi International Airport is about 13.5 km away, the Delhi Cantonment railway station is 8 km from here

Infrastructure
• The Metro project and the 2010 Commonwealth Games have significantly contributed towards the growth of Uttam Nagar
• Affordable pricing, well maintained roads, proper sanitation and water supply has made the locality popular amongst property buyers
• However the power shortages, traffic bottlenecks and encroachment of roads by vendors plague residents here
• The presence of many retail outlets, eateries and shopping malls is attracting a cosmopolitan crowd to this area
• While builder floors dominate the realty market with a presence of 55%, homes and apartments are in demand followed by residential plots
• Although the locality is yet to get complete regularization from the DDA (Delhi Development Authority), properties in Uttam Nagar are also provided under General Power of Attorney
• The neighborhood is all set to have over 25 residential projects in near future

Real Estate
• Great connectivity and affordability are fuelling the realty demand in this neighborhood
• Compared to flats for sale in Uttam Nagar, builder floors are gaining prominence due to their modest budgets
• On an average builder floors are estimated to cost INR 4,700 psft
• Capital values of apartments hovers between INR 4,700 and INR 7000 psft
• In a span of two years, property prices of apartments have witnessed an escalation of 10%
• There is a 20% to 25% difference in capital values of homes of registered and unregistered GPA properties
Plots for sale in Uttam Nagar are cited to cost an average of INR 11,800 psft
• The robust rental market too is luring many investors here. 1 BHK homes here generate a rental income which falls anywhere between INR 6,000 to INR 8,500 per month
• 2 BHK apartments can churn rental yields between INR 7,000 and 15,000 per month making the locality a favorable destination for investors
• Some of the active colonies include Jeewan Park, Milap Nagar and Indira Park
• The growing commercial belt is attracting many to invest here. Rentals for commercial properties here hover between INR 40 and INR 80 psft

Download the Solid Grounds Micro Market Report on Uttam Nagar here

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