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Rental market appreciates by over 12% in Rohini

Rohini

Cited to be Asia’s second largest sub city after Dwarka, Rohini has Sectors 1 to 33 along with Naharpur Village and Begumpur as its sub-localities. Being part of the 12 developed zones under the Delhi Municipal Corporation- the area is situated in the north-west region of Delhi City. When the Urban Extension Programme was launched in 1980 by the Delhi Development Authority (DDA) – Rohini was the first sub-city project that was developed. The neighbourhood is surrounded by Pitampura in the south, Bawana in the north, Karala in the west and Jahangirpuri towards the east.

It is segregated into two major zones- H and M. The H zone comprises of Phases 1 and 2, while zone M consists of Phases 3, 4 and 5. Some of the neighbouring micro-markets include Pitampura, Paschim Vihar, Ashok Vihar, Punjabi Bagh, Najafgarh, Moti Nagar and Karol Bagh.

Connectivity
• Rohini boasts of having seamless connectivity and has a number of arterial roads like Yamuna Canal Link Road, Bawana Road, Dr KN Katju Marg and Bhagawan Mahavir Marg that provide intra-connectivity
• Apart from these, other roads like Kanjhwala Road, Urban Extension Road (UER) II and Outer Ring Road provide easy access to other parts of the city
• The region is home to three metro stations namely Rohini West, Rohini East and Rithala metro station
• Public transportation is taken care of by state owned buses and private auto rickshaws
• Kashmere Gate, the inter-state bus terminal area is 15 km away from Rohini and can be reached through metro rail, buses and cabs

Infrastructure
• Metro project has played a pivotal role in promoting realty development in Rohini. The proposed extension of the Red Line of the metro from Rithala to Barwala has roped in a lot of investment
• Developments along the Phases 4 and 5 of Rohini are being promoted in the realty market
• The well laid roads and great road networking from these phases are improving connectivity to sub cities like Dwarka and Narela
• The growing commercial belt in Sector 10 is attracting many to establish many restaurants and shopping malls here. Proximity to Bawana Industrial Area too has triggered developments along Phases 4 and 5 of Rohini
• The introduction of rainwater harvesting programmes and the setting up of solar energy systems have improved water and power situation in Rohini
• Although many sectors in Rohini enjoy basic civic amenities without interruptions, some sectors still lack regular water and electricity supply
• Developments along Phases 4 and 5 are resulting in various traffic bottlenecks and lack of parking spaces

Real estate scenario
• Rohini has a mix of DDA made houses and private group housing societies. While multistorey buildings and builder floor apartments dominate the realty sector, the demand for villas and residential plots too is witnessing a gradual increase
• The announcement of a Smart City by DDA has triggered a realty growth in Rohini and its neighbouring localities
• Being an end-user market, Rohini is an ideal destination for many first time home buyers, due its affordable prices compared to other localities in Delhi
Apartments for sale in Rohini are likely to hover between a price bracket of INR 10,000 and INR 26,000 psft, depending on the amenities provided by the developer
• While the going rate for villas here stands at an average of INR 22,780 psft, residential plots here cost anywhere between INR 3,500 and INR 21,000 psft
• Rohini’s proximity to the granite marble market in Mangolpuri has also developed its rental market that has appreciated by over 12% in the past two years
• A 1,000 sq. ft. home is cited to generate a rental return of INR 19 psft per month

Download the Solid Grounds Micro Market Report on Rohini here.

Image: flickr.com/photos/ahinsajain/6659459589/

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