All about the IP Extension in Delhi
The Indraprastha Extension, often known as IP Extension, is located on the outskirts of East Delhi.
After a period of moderate real estate expansion, the area had a surge when the metro project at Preet Vihar, 3 km away, became initially announced. However, between 2008 and 2010, the micro-marketplace experienced a slowdown as a result of the project’s implementation delays and long traffic jams. The property costs in IP Extension increased dramatically once the metro operations began in January 2010.
While a huge boom was predicted after the IP Extension metro became operational, the situation stayed remarkably unchanged. Due to frequent traffic snarls on the inner roads and a lack of sufficient parking space that resulted in bottlenecks in various locations, the neighborhood did not gain a lot of traction in the subsequent years.
The IP Extension metro no longer provides direct access to the city’s most important landmarks. It’s a loop line of some sort. As a result, the enhancement did not entice customers. Property values in the region remained low even after the metro upgrade due to an oversupply of residential units, notably in 2 BHK and 3 BHK configurations, and the development of an archaic residential system.Customers are compelled to invest in the micro-markets in Noida and Ghaziabad as a result of many of these factors.
IP Extension is located near Patparganj Industrial Area, an important employment center in East Delhi. The area is also close to the Laxmi Nagar Commercial Complex, which houses the offices of several government agencies, personal quarter firms, and public quarter units. The Sahibabad Industrial Area is a seven-kilometer drive away. IP Extension predicts a healthy condominium demand due to the good location and smooth connectivity via public transportation. The condominium values in IP Extension range from Rs 15,000 per month to Rs 20,000 per month for a 2 BHK rental and Rs 20,000 per month to Rs 25,000 per month for a three BHK unit.
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