Laxmi Nagar is a prominent residential area in East Delhi
Localities with strong connection, superior infrastructure, simplicity, and a diverse residential supply are the most popular among homebuyers.
In East Delhi, Laxmi Nagar is one such neighbourhood that checks all the boxes and meets the housing needs of individuals from all walks of life. To learn more, keep reading.
East Delhi, often known as the Yamuna Valley, is a highly populated area of Delhi. Laxmi Nagar is among Delhi’s historical neighbourhoods, and it links a large portion of East Delhi to the rest of the city by a highway and metro line. Because of the availability of affordable accommodation, the region has risen in popularity. Not only do families and young professionals love the region, but also it attracts a large number of students owing to the proximity of several universities. As per reports, inhabitants ranked the neighbourhood on five criteria, including connection, infrastructure, lifestyle, security, and open space.
Efficient connectivity
Laxmi Nagar is located in the heart of East Delhi, with easy access to Noida via the Noida Link Road, Ghaziabad through the Anand Vihar Road, and other sections of Delhi via Vikas Marg. A specialized Blue Line metro station and a Yamuna Bank overlapping metro station, both only one stop apart, enable safe and cost-effective transit across the Delhi NCR. While there are plenty of public transport, e-rickshaws, taxis, and metro feeder vehicles. It takes around 30 minutes to go to the Indira Gandhi International (IGI) Airport and the New Delhi Railway Station.
Budget-friendly inventory
When budget limits obstruct a homebuyer’s quest for a beautiful home, they might get disheartened. The competitively priced home inventory in Laxmi Nagar is a crucial element propelling sales. A two-bedroom unit here begins at about Rs 18 lakh and accounts for about 80% of the housing demand. “The emergence of the new COVID-19 variant- Omicron has halted the sales momentum. “However, the situation has improved following the second wave.” Those who had been on the borderline previously were out shopping and weighing their alternatives.”
In regards of rental demand, it is mostly fuelled by students of Laxmi Nagar’s Chartered Accountancy tutoring colleges. Whereas a 2 BHK property rents for Rs 10,500 per month, typical monthly PG/hostel rents are about Rs 6,500 per bed. It helps to explain why the latter is so popular with students.
Developed social and retail infrastructure
Laxmi Nagar is among the few areas in Delhi where you may visit a variety of markets. This is a popular destination for gadgets and cell phones, and its Grown Strongly is home to a variety of budget-friendly clothing and jewellery stores. There are several educational and healthcare alternatives available in this area. “Property sales in Laxmi Nagar are driven by its strategic position, great accessibility, and proximity to markets. Nonetheless, the locality’s affordability contributes to its appeal.”
Laxmi Nagar resident is as well-established region with many housing alternatives. It’s a great place to live since it has “local street shopping” and “several fairly priced eating establishments.” “Metro and intercity buses are also excellent,” although “small streets make it feel crowded at times.”
Proposed improvements
Since Laxmi Nagar is such a densely packed location, people frequently suffer parking issues. The government has planned to build a multi-level parking lot near Vikas Marg to alleviate the problem. The section linking Laxmi Nagar and KadkadiMor will also be remodelled. In addition, sewers will be redesigned to prevent floods and waste overflow during the rainy season.
Investment potential
As per Personal insight Report suggests, the average value of the property in Laxmi Nagar increased by 3% QoQ to Rs 6,000 per sq ft in October-December 2021. In the same quarter, the neighbourhood generated a 3.62 percent annual rental yield. Lease income and capital growth have always been the two primary indicators of a location’s investment opportunities, and Laxmi Nagar has shown persistence in both even after the COVID intrusion.
According to industry experts, the price of housing in self-sufficient communities has surged as a result of the increasing homeownership tendency among individuals following the epidemic. The trend might also help Laxmi Nagar. Nevertheless, because there are numerous unapproved developments in Laxmi Nagar, potential homebuyers should conduct extensive investigation and double-check the ownership title.
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.
