In IP Extension, Delhi, excellent connection boosts rental demand
Indraprastha Extension (IP Extension) is located in East Delhi, roughly two kilometers from Patparganj Industrial Zone, a major employment center.
The Sahibabad Industrial Zone is around seven kilometers from the Laxmi Nagar Commercial Complex, that comprises government buildings, commercial firms, and governmental agencies. IP Extension’s rental demand has been fueled by its strategic location and convenient connection through public transportation. By Reports, former and current tenants gave this location a 4.5 out of 5 rating. The categories of ‘interconnection,’ ‘environment,’ and ‘safety’ received the highest scores, with ‘lifestyle’ keeping pace behind. IP Extension rental costs vary between Rs 13,000 to Rs 26,400 per month (Insider report).
Factors that are driving IP Extension rental demand
Residential development and locational benefit
The 14-lane Delhi-Meerut Expressway connects Delhi, Ghaziabad, and other parts of western Uttar Pradesh (UP), while the Ghazipur Road connects Noida and Greater Noida. The IP Extension Metro Station and the Mandawali-West Vinod Nagar Metro Station on the Pink Line connect it to the Delhi Metro Network. Furthermore, the Anand Vihar Inter State Bus Terminal (3 km) and the Anand Vihar Railway Station are both close by (4 km). The Indira Gandhi International (IGI) Airport’s T1 and T3 terminals are between 26 and 30 kilometers apart.
The Delhi Development Authority (DDA) apartment complexes, Co-operative Group Housing Societies (CGHS), and builder floors make up the majority of the residential development in IP Outgrowth. This neighborhood is characterized by multi-story apartments, primarily consisting of 2- and 3-bedroom units, which are the most popular alternative for those looking for a temporary place.
| Share of residential stock for rent in IP Extension | |
| Configuration | Percentage share |
| 1 BHK | 7 |
| 2 BHK | 53 |
| 3 BHK | 38 |
| 4 BHK | 2 |
Most properties in IP Extension are resale or fully prepared, according to Paramjeet Singh Kohli, owner of Kohli Associates. There are a few properties in the independent housing class that are still under development. Considerably, under the Master Plan 2021, there are plans to reconstruct various housing societies.” Rentals are also more reasonable than Mayur Vihar, which is only four kilometers away and has nearly identical amenities. The average monthly rent in Mayur Vihar is Rs 15,000, whereas the average monthly rent in IP Extension is roughly Rs 13,000 per month.
Proximity to job centers
IP Extension is near to key businesses in Noida in Sectors 57, 59, 60, 62, and 63, in addition to Patparganj Industrial Area and Laxmi Nagar Commercial Complex. Galaxy Business Park, Logix Cyber Park, and Spring Meadows Business Park are among the most important IT parks in such industries.
V P Gupta, the owner of Gupta Properties, believes that the proximity of work opportunities can give considerable rental returns and also that the value of the property will rise with in future. Its because commercial development, like housing, educational, commercial, and leisure advancement, guarantees holistic development. IP Extension has benefited from the all-encompassing expansion as well, with a capital appreciation of 3% over last four years and current property values ranging at Rs 10,700 per sq. ft.
| Monthly rentals in IP Extension | |
| Configuration | Rental values (per month) |
| 1 BHK | Rs 13,000 |
| 2 BHK | Rs 20,000 |
| 3 BHK | Rs 26,500 |
Infrastructure for social and retail activities
The neighbourhood contains multiple commercial centers and is well connected to reputable schools and healthcare institutions.
| Monthly rentals in IP Extension | |
| Configuration | Rental values (per month) |
| 1 BHK | Rs 13,000 |
| 2 BHK | Rs 20,000 |
| 3 BHK | Rs 26,500 |
“IP Extension offers a good living with schools and hospitals available within five kilometers,” Aman Thakur said of the 99acres neighbourhood. Furthermore, playgrounds are in decent shape, and services such as a petrol station are about a kilometer away. Additionally, there is adequate parking.” Nevertheless, critics pointed out that incorrect rubbish management and filthy playgrounds continue to be a problem.
Housing demand is inversely proportional to key locations and nearby cultural and psychosocial facilities. Since these elements increase attractiveness, real estate values continue to climb. Like a result, tenants must consider all of these factors before renting a home.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
