Delhi’s Defence Colony Emerges Best Residential Spot in a Decade

Defence Colony in Delhi has emerged as the best residential destination in a metro in a decade, recording a 777% jump in average home value between 2005 and 2015, according to a report by property listing portal CommonFloor.com.The average capital value of a standard apartment in the south Delhi residential area stood at ` . 3,200 per sq ft in . 28,090 per sq ft, accor2005. Today, it is ` ding to CommonFloor Real Insights.Vikhroli in Mumbai took the second slot with price of a standard flat rising from an average . `2,250 per sq ft `18,000 per sq ft at present, a in 2005 to .growth of 700%.

Other pin-codes that have posted more than 400% rise in average home value include Guindy in Chennai (678%), Banjara Hills in Hyderabad (578%), Benson Town in Bangalore (495%) and Viman Nagar in Pune (467%).

“Old-world charm and historical quotient has significantly enhanced the appeal of these areas. Most of these localities are preferred by well-heeled buyers, not only because of high prices but because of the status attached to these localities,“ said Vikas Malpani, cofounder of the CommonFloor Groups.

(source by:-The Times Of India)

 

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