Prices of 6,000 sq ft luxury floors in South Delhi surge 105% in three years: Alternative Investment Fund
The price of luxury independent floors in South Delhi has risen as much as 105% in the last three years on the back of demand and investor interest, according to a report by Golden Growth Fund (GGF), a Category-II real estate focused Alternative Investment Fund (AIF).
With growing interest from startup founders and businessmen, South Delhi has emerged as an end-user destination with privacy and customised space as primary needs of these ultra-rich habitants. Its connectivity to the office hubs in Gurugram and Noida; and the airport adds to its appeal, it said.
According to the report, in Category-A colonies, between June 2022-June 2025, the average price for a 2500 sq. ft. floor has risen by approximately 100% from ₹8 to 11 crore to ₹16 to 22 crore while for a 6000 sq. ft. floor, the price has risen by 105% from ₹18 to 22 crore to ₹36 to 45 crore, it said.
In Category-B colonies, between June 2022-June 2025, the average price for a 2500 sq. ft. floor has risen by approximately 70% from ₹5 to 6.5 crore to ₹8.5 to 11crore while for a 3200 sq. ft. floor, the price has risen by approximately 64% from ₹8 to 11 crore to ₹13 to 18 crore, it noted.
'South Delhi is today the most premium real estate market with per sq. ft. rate in a Category-A colony ranging between ₹60,000- ₹90,000 and in Category-B colony between ₹36,000- ₹56,000 depending upon floor and colony,' said Ankur Jalan, CEO, Golden Growth Fund.
'The return on investment is another factor that has added to the growing interest,' he said.
In an earlier report, GGF said the redevelopment potential of South Delhi is worth ₹5.65 lakh crore across 42 MCD Regulated colonies with plots (occupied and vacant) in Category A and B colonies alone accounting for over ₹5.35 lakh crore.
'The real estate market in the last three years has been bullish. However, what separates South Delhi from the rest is the consistent demand, reliable and safe investment and substantial returns. Besides, it also boasts of safety of the asset against depreciation of capital,' Ankur Jalan said.
Some of the Category-A and B colonies are Mayfair Garden, Panchsheel Park N Block, Panchsheel Park S and E Blocks, Sadhana Enclave, Anand Niketan, Vasant Vihar, Shanti Niketan, Westend, Chankyapuri, Golf Links, JorBagh, Sundar Nagar, Maharani Bagh, Chirag Enclave, GK, Green Park, Gulmohar Park, Niti Bagh.
Also Read: South Delhi bungalows gain on Lutyens' with airport connectivity and customization perks
'HNIs, NRIs and family offices, who earlier invested in local properties without the cushion of compliance and safety, are making investments in AIFs that invest in these colonies. With returns as high as 18-20% without the hassle of maintenance, AIFs have opened a new avenue for these investors, Jalan said.
Golden Growth Fund is a category II Real Estate focussed Alternative Investment Fund (AIF), a unique financial vehicle specifically designed for real estate investments in South and Lutyens' Delhi, India's poshest colonies.
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