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Buoyed By Metro Connectivity "Rohini" Emerged as an affordable rental destination of DelhiBy Sumit Kumar, Section Real Estate
When Janesh Sharma, a senior executive working in Delhi, moved to Rohini in a two-bedroom rented apartment he knew that he was going to save time in commuting to his office. His office, which is in Connaught Place, is very well connected to Rohini be it through the Metro Rail route or road transport.
The Metro, especially, has not only added comfort to people's life but has also done wonders to the real estate scenario of Rohini. In recent times, Rohini has emerged as an affordable rental destination of Delhi. People working in south and central parts of Delhi are looking to find rented accommodations here. As far as Sharma is concerned, he is paying a rental of Rs 6,000 per month for his two-bedroom, 1,000 sq ft apartment. Comparing the rentals of the apartments with those of south and central Delhi, one will find Rohini a much cheaper destination.
A good mixture Currently, DDA flats are available in sectors 2 to 8, 15 to 18, 23, and 24. All these flats are two-bedroom, MIG flats of 900-950 sq ft. Society apartments are available in sectors 7 to 14. Other than these there are independent houses available in Prashant Vihar, which is surrounded by Rohini from three sides.
Appreciation But this boom fizzled out in 2007. Since then, the prices have stabilised though they have not fallen. Rohini has been witnessing slow and gradual appreciation in the rates. Sharma of Banwari Lal Properties explains, "Rohini has independent houses built on freehold plots of 26 to 90 sq m. These plots command a rate of Rs 1.5-2 lakh per sq yd. A year back, the same plots were selling at Rs 1 lakh to 1.25 per sq yd. Prashant Vihar, has the maximum number of independent houses in this area." Factors like high salaries drawn by young professionals and the massive influx of people from other states into Delhi has also contributed to the price rise.
Rising rates
Rohini's society apartments now command a price of Rs 4,000-5,000 per sq ft. This is comparable to prices in parts of East Delhi that are a 30-minute drive from CP and where apartments cost around Rs 5,000 per sq ft.
DDA flats in Rohini are cheaper than the society flats. Their rates are in the range of Rs 3,200-3,700 per sq ft. In late 2006, the rates were around Rs 2,800 to 3,500 per sq ft. These have better-quality construction, are better maintained, offer more open areas compared to DDA flats, and have better security arrangements. The premium complexes, there are about a dozen in Rohini, are equipped with lifts and have power backup.
Sectors 9, 13, 14, and Prashant Vihar command the highest price in Rohini. They are better development and are closer to Metro stations of Rohini East, Rohini West, and Rithala. Low-budget options are available in the upcoming sectors 25 to 30. These sectors are at a considerable distance from the Metro line. Sector 30 has mostly got independent plots.
Preferred rental destination Rental of shops ranges from Rs 60-100 per sq ft per month. In malls, it is as high as Rs 150-200 per sq ft per month, therefore demand for shops on rent is very high.
Full of amenities Suresh Sharma of Banwari Lal Properties says, "People who live in Rohini sectors have several options for schools and colleges. Various shopping centres and local markets fulfil their day-to-day needs. For medical needs they can go to Rajiv Gandhi Cancer Hospital, Ambedkar Hospital, Saroj Hospital, Jaipur Golden Hospital, and Mahavir Hospital.
Roads inside the colonies are wide. There is no water shortage, as the Haiderpur water treatment plant is situated nearby. Electricity supply these days is good, as compared to the rest of Delhi. For those keen on sports, sector 14 has a sports complex. Sector 9 has a large district park, and sector 12 has the Swarna Jayanti Park (also called Japanese Park). If you wish to buy an apartment in Rohini, you should look for a society flat. If you are looking for a rented accommodation, you should look for one in the prime sectors as there is very little difference in rates between DDA flats and society flats. Source: Express Estate, May 09, 2008 WORK n PLAY AT ROHINI
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