Living in an expensive locality? What’s the next best?

Vinod Birla, an entrepreneur by profession, lives in his ancestral property in Anand Niketan, in Delhi. His property values at Rs 10 crore as per market rates today. With two brothers along with their families living in the same house plus the expanding size of the family, Birla decided to move out. He’s in search of a neighbourhood that doesn’t compromise on his lifestyle. What are his options?

If you are a prospective buyer like Birla, South Delhi could be a viable choice for you. Not only is the social and road infrastructure befitting your budget, roads are not crowded as much as you see in some of the localities of East, West or North Delhi. Kamal Ashraf, broker at Nai Dilli Property Dealers says, “Options abound for those with no budget constraints and who would like a plush neighbourhood minus honking cars and street side living.

As per trends on Magicbricks, areas such as Vasant Kunj, South Extension- II, Saket, Defence Colony, Green Park etc are popular. On the supply side, the stock might not be as high as that in emerging areas but considering the profile of buyers, there are not as many takers, say trend watchers. With a minor price correction that Delhi property market witnessed in the previous quarter, potential buyers had already started their research. Consequently, as per Magicbricks findings, plush localities of Defence Colony, Saket, GK-I and Green Park moved up the ladder of most searched areas for sale.


Source: http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/living-in-an-expensive-locality-whats-the-next-best/79986.html