Akhil Wable, the founder of DataforIndia, has purchased a 1,280-square yard plot in Vasant Vihar for Rs 113 crore from Eleannt Enterprises. The real estate firm based in South Delhi had acquired the plot for Rs 95 crore in January of this year and incurred a stamp duty of Rs 6.65 crore. According to sources, the local authority is denying permission to build on the plot due to its closeness to the ridge area.
South Delhi has demonstrated a significant demand for real estate. The limited inventory that enters the market, particularly from owners aiming to monetize their properties, attracts both investors and end-users who are willing to pay a premium. This has resulted in extraordinary price increases.
For instance, current transactions in Vasant Vihar are occurring at approximately Rs 9–12 lakh per sq. yd,” stated Ankur Jalan, CEO of Golden Growth Fund, a Category-II real estate-focused Alternative Investment Fund (AIF).
Recently, the Golden Growth Fund (GGF) has acquired a parcel of land in Neeti Bagh, located in South Delhi. The real estate potential of South Delhi, recognized as one of India’s most affluent areas, is estimated to be around Rs 5.65 lakh crore. There are approximately 18,446 plots available across the 42 colonies categorized as A, B, and C in South Delhi, with sizes varying from 125 square yards to 1,750 square yards.
The average price per square yard is reported to range between Rs 6–15 lakh, according to the data. The Municipal Corporation of Delhi (MCD) has classified all colonies in the city into eight categories: A, B, C, D, E, F, G, and H. Circle rates, property tax rates, and stamp duty fees for property registration are established based on these classifications.
The most profitable colonies, classified under Categories A and B, are predominantly situated in South Delhi. In the 13 Category A colonies, there are about 3,704 plots available, with sizes ranging from 200 sq. yd to 1,200 sq. yd. Additionally, there are approximately 12,720 plots in the 27 Category B colonies, with sizes from 125 sq. yd to 1,750 sq. yd, as per the data. Colonies classified as Category A and B include Mayfair Garden, Panchsheel Park (N, S, and E Blocks), Sadhna Enclave, Anand Niketan, Vasant Vihar, Shanti Niketan, Westend, Chanakyapuri, Golf Links, Jor Bagh, Sundar Nagar, Maharani Bagh, Chirag Enclave, Greater Kailash, Green Park, Gulmohar Park, and Niti Bagh, among others.
