[ecis2016.org] With the availability of affordable properties and connectivity to the NCR driving real estate demand in Uttam Nagar, we look at what this region has to offer, as well as prices and the things that buyers have to look out for
Amidst Delhi’s affluent housing localities, where property prices often exceed a crore, localities like Uttam Nagar are a haven for people who want houses that are not exorbitantly priced. According to data available with ecis2016.org, there are over 16,000 ready-to-move-in units for sale. Home buyers’ focus has shifted to Uttam Nagar, primarily because of its affordability and connectivity.
You are reading: Uttam Nagar: Delhi’s preferred affordable residential location
Connectivity to Uttam Nagar
The Delhi Metro’s Blue Line connects Uttam Nagar to the job districts of Noida and Dwarka, as well as to the business district of Connaught Place. With a push towards infrastructure development in recent times, Delhi’s road and rail networks have given a fillip to its residential pockets and well-connected areas like Uttam Nagar, have seen a gradual shift in the people opting for it. Today, Uttam Nagar has options for those seeking affordable housing, high-end properties and at the same time caters to those asking for paying guest accommodations, student housing, etc.
Property options in Uttam Nagar
For those looking to construct their own house, over 40 residential plots are up for grabs, with prices ranging from Rs 3 lakhs to Rs 7 crores, depending upon the size and location. You will also find independent houses, builder floors and apartments priced up to Rs 5 crores. New projects in Uttam Nagar are also bringing more apartments for sale.
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Check out properties for sale in Uttam Nagar
Year-on-year change in property prices in Uttam Nagar
User activity on ecis2016.org suggests that Uttam Nagar is the most-searched locality, among others in Delhi. As of April 2019, the average property price here, is Rs 4,051 per sq ft. Overall, prices have been stable. For example, by January 2020, average prices still remain the same.
Mehraz Haq, a real estate agent in the area says, “This is a strategic location and there are properties available at every price point. At the same time, prices are reasonable and depend on the quality of construction, legal status and location. Premium constructions with clear documents, command a higher price.”
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Rentals in Uttam Nagar
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Depending on the size of the unit, configuration, amenities and the location, rents may vary. Listings show that most 1-3 BHK units command a rent of Rs 5,000-40,000 per month.
Check out price trends in Uttam Nagar
Check these before investing in Uttam Nagar
The price benefit draws potential home buyers’ to Uttam Nagar but it is important to point out that a number of unauthorised colonies have sprung up. Such colonies may lack civic facilities, because it is not part of the planning zone as per the authorities. Another problem is the non-availability of bank loans to buy such properties. Banks often refuse to sanction loans for such properties, which they consider unsafe and illegal.
Safety and security is also a problem. With an unorganised set-up, comes the probability of frequent petty crimes, unsafe structures, fires, unmanageable traffic, etc. All of this is a reality in the unauthorised colonies of Uttam Nagar. Uttam Nagar junction is a heavily congested area and holds more vehicles at peak time, than its carrying capacity. The problem of such illegal colonies even made its way into the election manifesto of a party’s candidate, ahead of the 17th Lok Sabha elections, in 2019. However, the plus points outweigh the cons of living in Uttam Nagar. “Any popular locality that still boasts of having space for development, is prone to problems. If buyers are mindful of what they are buying and from whom, there should not be any problem,” says Sheetal Anees, an IT professional who works in Gurugram but chose Uttam Nagar for her residence.
FAQ
Is it safe to invest in Delhi’s Uttam Nagar?
Uttam Nagar is among Delhi’s popular residential localities especially because of the affordable prices and connectivity. However, instances of unauthorised constructions have emerged in the past. If you are planning to invest in Uttam Nagar, do the due dilligence and research about the legality of the project before you put in your money. Overall, it is a good location to own a property in.
Is Uttam Nagar connected by Delhi Metro?
Yes, Uttam Nagar is well-connected by the Metro and has mainly four stations named Dwarka Mod, Nawada, Uttam Nagar East and Uttam Nagar West.
What are the chances of capital appreciation in Uttam Nagar?
Between 2014 and January 2020, capital values have remained fairly stable especially in the later years. If you are looking to invest for capital gains, you may have to look at it from the long-term perspective. However, rental returns are appreciable as Uttam Nagar is sought after by working professionals due to its easy connectivity and affordable rents.
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Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle
