Know where you can receive the highest rentals in south Delhi.
South Delhi properties have always been exclusive and dominated by the rich and affluent. Property prices in South Delhi have grown manifold due to the high demand. Yet, south Delhi is one of the best locations to invest in the national capital. The return on investment in micro-markets of south Delhi is almost unparalleled when it comes to rental income. Most of the localities high overall yields on property belong to south Delhi. Some of the plush neighbourhoods of south Delhi that are sought after are Sarita Vihar, Vasant Kunj and Malviya Nagar. The rental return available from these properties range from 2.17 to 2.50 percent.
All through 2014, Malviya Nagar has clocked the maximum gross yield for flats for rent in Delhi. The average returns on rental property are around 2.50 percent here. The rent payable for an apartment of 2BHK configuration here is around Rs 22000 to 25000 per month. When accumulated over the year, it comes to Rs 2.7 to 3 lakhs. The price of such an apartment in Malvia Nagar is between Rs 1.1 and 1.3 crores. The affluence of Malviya Nagar comes from its well woven social infrastructure and strategic position in the context of commercial centres of Central and South Delhi and Gurgaon. The approach of the Metro railway has majorly impacted the rental preference of home seekers in favour of Malviya Nagar and hence the rental values have increased.
Sarita Vihar and Vasant Kunj have also recorded high rental yields of 2.17 to 2.18 percent. A flat in Vasant Kunj of 2BHK layout costs around Rs 1.2 to 1.6 crores. These flats for rent in Delhi can fetch Rs 2.6 to 2.8 lakhs per annum, which translates to Rs 22,000 to 24,000 per month. In Sarita Vihar, a similar 2BHK apartment shall fetch Rs 19,000 to 20,000 in a month as rent. When cumulated for the year, it comes to Rs 2.2 to 2.4 lakhs. The cost of such an apartment ranges from Rs 1 to 1.2 crores.
Vasant Kunj is a popular locality among those who work in Gurgaon but want to live in a convenient location in Delhi. On the contrary, those working in south Delhi, Noida or Faridabad with limited housing budget prefer living in Sarita Vihar.
Other areas of Delhi that are popular among house seekers are Shivalik, East of Kailash, Kalkaji and Greater Kailash I. These areas have many flats for rent in Delhi and command a rent of Rs 22,000 to 25,000 per month. Investors looking for property in south Delhi would do well to opt for apartments in these localities as their rental yield ranges from 1.79 to 1.94 percent.
Common practice and experience dictates that not only should one look at the rental yield but also the capital values appreciation at the time of investment. However, with stagnating property prices, one is left with no other option than look at rental yields solely in order to invest in the real estate market in Delhi and its surrounding cities.
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