What motivates Vikas Puri’s rental demand in Delhi?
A neighbourhood’s rental demand is determined by how convenient it is for its citizens to live nearby.
Because of its convenient area, excellent accessibility, and diverse housing options, Vikas Puri in West Delhi draws a large number of renters. The majority of renters in the region chose 2 BHK homes, with monthly rental costs around Rs 13,000-16,000.
Vikas Puri, a housing estate established by the Delhi Development Authority (DDA), features a blend of Lower-Income Group (LIG) and Middle-Income Group (MIG) houses in the center of West Delhi. Vikas Puri, one of the most popular micro-markets, has a well-established cultural and retail infrastructure, as well as strong connection to major commercial centres, which drives rental demand in the area.
Strong connection nexus with strategic site
When renting a house, one of the most important factors to consider is how effectively the neighbourhood is interconnected to the rest of the city. Vikas Puri is widely obtainable through the Delhi metro, Outer Ring Road, Dwarka Expressway, and National Highway (NH)-1 from various sections of Delhi and the National Capital Region (NCR). The Delhi Metro’s Blue and Magenta Lines provide easy connection to different sections of the NCR. Major railway terminals and the airport may also be accessed in around 50 minutes by metro and road.”Vikas Puri does well in terms of rental demand due to its excellent connection.” Cabs and rickshaws are readily accessible. Besides that, the tenant community is interested in the range of retail stores and complexes.”
Robust social and retail infrastructure
Institutions, treatment centers, stores, cafes, movie theaters, and retail malls abound in Vikas Puri, with many of institutions within a five-kilometer radius. It is among the most common leisure places in Delhi NCR, thanks to the two- and six-kilometer-long hubs of Rajouri Garden and Tilak Nagar, respectively. “The neighborhood attracts a well-educated middle-class family-oriented populace. The safe and caring environment, as well as various parks and facilities nearby, draw residents here.”
Easy accessibility to commercial hubs
Vikas Puri gives easy access to the Delhi NCR’s most important commercial centres, such as Gurgaon and Noida. The Dwarka Expressway has made getting to Gurgaon a breeze, while the ring road connects Noida to the rest of the city. Furthermore, metro connectivity makes it easier to go to these job centres. For the most part, inhabitants rely significantly on the metro system to get about.
Diverse selection of rental inventory
Vikas Puri’s rental inventory is diverse. There are properties for rent in the economical, mid-segment, and luxury price ranges to suit all budgets. The desired property type is 2 BHK units in separate building floors, and renters were permitted to place a distinct prepaid meter, allowing for more visibility in power payments. Nevertheless, homeowners frequently complain about traffic congestion caused by the steady stream of people visiting retail malls. Upon examining the neighbourhoodthe renters highlighted concerns about a shortage of parking spaces and waste on the roadside.
The State government, on the other hand, has taken note of the citizens’ complaints, and a foot-over bridge on the Outer Ring Road has been planned to aid pedestrians. A multi-level parking structure near the PVR multiplex is now in the works to alleviate on-road traffic.
Vikas Puri is regarded as a desirable location for renters. The neighbourhood is projected to provide increased services to its citizens as a result of the development initiatives in the pipeline. As a result, if you’re searching for a place to rent in West Delhi, Vikas Puri could be a good place to look. Patel Nagar, Janakpuri, and Paschim Vihar are all popular rental areas in West Delhi.Such areas, which are brimming with contemporary conveniences, are extremely common among teenagers and working people. The monthly average rent in these locations is between Rs 6,000 and Rs 25,000.
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.
