A prolific area with lots of greenery, peaceful environment, beautiful by lanes and stylish bungalows, this is how one can describe Delhi’s Hauz Khas colony, located in South Delhi. Buying property in Hauz Khas is not in everyone’s capability as even a small 2 bedroom house can cost you a crore here. Carrying a legacy of the golden era, the locality continues to en cash the real estate benefits.
Property in Hauz Khas remains high end and classy. With the price tags worth crores, the rich and famous live here and the area is surrounded by other posh areas adding to its profile. The colony; a low rise, bungalow and villa style colony, is the favourite of the politicians, bureaucrats, cricketers, fashion designers and other celebrities. The colony is for the cream of the society and hence the prices are exorbitant.
Surrounded by other posh areas like Safdarjung Development Area, Green Park, Gulmohar Park, Asiad Village etc. the real estate of the colony promises decent real estate returns and future investments. The locality has a number of malls, multiplexes, hi end markets and shops nearby for the rich and famous making it a high-class hub for them.
After the infrastructure boom in Delhi property in Hauz Khas became further desired and coveted with good roads, better public infrastructure and increase in the local facilities, the colony has been transformed into a real estate hub. The property in Hauz Khas has a peculiar quality about it; though the prices remain high and the houses are very much in demand but very few houses are sold here in a month; reason for the same being high property prices and availability of few buyers who can afford them. For a real estate agent holding a Property in Hauz Khas means an investment which pays off on a quarterly basis, but they are not complaining, as the returns are very high which compensate for the everything else.
As written above the prices of houses are in crores and not a single property is worth some lakhs here. The sizes of the house determine only whether the prices are in double digits or single, but they all are expensive. The current price range for Property in Hauz Khas, which includes builder floors, villas, residential apartments or multi story flats range between a modest Rs 12,400 per square feet to Rs 78,000 per square feet (March to June 2013 figures).
These are per square feet prices, but the sizes of houses are big here and hence even the lowest flat in the ladder is around Rs 2 to 3 Crore and hence cheap according to Hauz Khas standards. Yes, the prices of property here beat those of Mumbai, but remember the size of houses is bigger here than in the city of dreams, Mumbai.
Real estate trends indicate a steady, stable and tested future for the Property in Hauz Khas. As with time the locality has become costlier and expensive, there is no reason the prices will come down in near future. Even if they do, the correction would be 3 to 10 per cent and that would be momentary. In nutshell, if one can afford a Property in Hauz Khas, then they might not need to invest anywhere else because the property here is like gold and will never lose its sheen.
Old timers who bought property here, say that even during their times the property was costly here and hence they are confident of the future about the same. Property in Hauz Khas was and will be cherished for years to come.
Anupam is a wordsmith and enjoys playing with creativity. He writes for famous realty site 99acres.com. He holds high penchant for black and white and tunes her fingers to extract quality writing. He shares his pieces of writing regularly to depict infrastructure scenario in the country. Property in Hauz Khas are in recent buzz, He explores the suburbs to update various investors about future prospects I around Mumbai.