Uttam Nagar: Delhi’s most affordable constituency

Uttam Nagar, one of the top preferred localities of Delhi for property purchase has another tag in its kitty – the most affordable constituency!

Interested in properties in Uttam Nagar?

Although PropIndex (Oct-Dec 2014), the India Apartment Index by Magicbricks, lists Uttam Nagar at second position in the list of the most preferred localities for purchase, it is also one of the most affordable addresses across the city.

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The report indicates that Uttam Nagar has options below Rs 20 lakh. Properties within this budget are available on the outskirts of the city or the urban villages which don’t have metro connectivity or liveable infrastructure, unlike Uttam Nagar which has both. While the nearby area of Janakpuri offers properties in the range of Rs 10,000-14,000 per sq ft, Uttam Nagar offers at Rs 3,800-4,800 per sq ft.

Would elections make any difference?

“Currently the area is unauthorised but has been proposed for regularisation. Post which, we are expecting prices to rise as it has all elements for scope of appreciation including the metro and proximity to up-market lifestyle,” says Sanjay Gandhi, owner, Ashiana Home Solutions.

Since the three leading political parties have kept this as a big agenda in the upcoming polls, each of them is trying hard to impress voters in their own way.

While Congress is still promising legalising those colonies which were left out during the reign of the UPA government, AAP is making sure that they don’t leave any stone unturned, hence is promising clean and ample water supply, uninterrupted electricity and sanitation facilities.

BJP, which does not have any manifesto to talk about, has recently launched its vision document which says that post regularisation they will provide all facilities as available in DDA colonies.

There is no doubt that Uttam Nagar real estate market is soon going to see sunny days as far as infrastructural development is concerned. However, it would be a matter of wait and watch whether legalising the area would take away its affordability or will create an opportunity for the deprived class to own a home in one of the well connected localities of the city.

Source: http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/uttam-nagar-delhis-most-affordable-constituency/80314.html