Janpath, a vibrant and bustling enclave in New Delhi, is a popular destination for shopping, street food and cultural activities. This iconic market, renowned for its diverse array of shops and stalls, has evolved into a commercial hub that attracts both locals and tourists alike. Strategically located in the heart of the city, Janpath offers a unique blend of affordability, connectivity and a vibrant lifestyle, making it an ideal location for businesses and retail ventures.
What are circle rates?
Circle rates, also known as ready reckoner rates or guidance values, represent the minimum prices at which properties can be registered in a particular locality. These minimum prices, established by the state government and periodically adjusted to reflect market trends, serve as a benchmark for determining stamp duty and registration fees. While circle rates typically lag behind the actual market prices, they provide a transparent and predictable framework for property transactions, ensuring a regulated market environment.
Circle rates in Janpath
The Delhi government has classified properties in Delhi into eight categories, ranging from A to H, to standardise and harmonise the property registration process across the city. The most affluent neighbourhoods in Delhi fall under Category A, whereas Category H includes areas with the lowest property values. Janpath falls under Category A of the Delhi government’s property classification system, indicating its position among the most affluent neighbourhoods in the city. The circle rate for Janpath currently stands at Rs 12.24 lakh per square metre, a testament to its high demand and coveted status.
| Circle rate per sq m | Residential cost of construction per sq m | Commercial cost of construction per sq m |
| Rs 12.24 lakh | Rs 21,960 | Rs 25,200 |
How to check circle rates in Janpath?
One of the ways to check circle rates is to use the Delhi Online Registration Information System (DORIS)
- Visit the DORIS website: https://doris.delhigovt.nic.in/
- Under the ‘Citizen Services’ section, select ‘Circle Rates’.
- Choose ‘Janpath’ from the ‘Locality’ drop-down menu.
- Select the appropriate ‘Deed Name’ and ‘Sub-Deed Name’ from the respective drop-down menus.
- Enter the property details, including property type, sub-property type, consideration amount and gender of the party.
- Click on the ‘Calculate Circle Rate’ button.
The system will display the applicable circle rate for the selected property type and location.
Factors influencing property prices in Janpath
Janpath, a well-established and sought-after commercial hub in New Delhi, has experienced a remarkable surge in property prices over the past decade. This upward trend can be attributed to a confluence of factors that make the area an attractive destination for both commercial and retail investments. The key factors that contribute to the escalating property values in Janpath include:
Prime location and excellent connectivity
Janpath enjoys a prime location in Central Delhi, a hub of prominent business districts, shopping centres and transportation networks. It is located near Connaught Place, the commercial heart of New Delhi. Janpath is also well-connected to the rest of the city by the Delhi Metro. The Rajiv Chowk metro station is just a short walk away, and several other metro stations are within easy reach.
High footfall and strong commercial potential
Janpath is renowned for its vibrant market and diverse array of shops. It attracts a high volume of footfall throughout the year, with an average daily footfall of over 2,00,000 people. This high footfall translates into substantial business opportunities for retailers and shopkeepers. Janpath is home to a wide variety of shops, including clothing stores, electronics stores, restaurants and cafes. This makes it a popular destination for shopping and dining.
Land scarcity and limited of commercial spaces
Janpath is a densely developed area, and there is very little vacant land available for development. This scarcity of land has driven up the price of existing commercial properties. Additionally, the Delhi Development Authority has imposed strict regulations on new construction in Janpath in order to preserve the area’s character. These regulations have further limited the supply of commercial spaces in the area.
Investment potential and return on investment
Janpath presents a compelling investment opportunity due to its consistent appreciation in property values and attractive rental yields. Property prices in Janpath have increased by an average of 10% per year over the past decade. Additionally, commercial properties in Janpath command rental yields of 6-8%. This makes Janpath a lucrative investment option for investors seeking long-term capital gains and stable rental income.
In addition to the factors mentioned above, the following factors also contribute to the escalating property values in Janpath:
Multinational corporations
Janpath is home to a number of multinational corporations and embassies. This presence of large businesses and organisations has a number of positive effects on the area, including:
- Increased demand for office space and commercial property
- Increased footfall and spending by employees of these businesses
- A more vibrant and dynamic business environment
Ecommerce
The increasing popularity of e-commerce has led to a surge in demand for warehouse and logistics space in Janpath. This is because Janpath is a central location in Delhi and is well-connected to major transportation routes. This makes it an ideal location for businesses that need to store and distribute goods.
Coworking spaces
The growing demand for co-working spaces in Janpath from start-ups and freelancers is another factor that is contributing to the escalating property values in the area. Co-working spaces provide a number of benefits to start-ups and freelancers, including:
- A flexible and affordable workspace
- A network of potential collaborators and clients
- A professional environment
Redevelopment of Connaught Place
The redevelopment of Connaught Place is expected to further boost footfall in Janpath. Connaught Place is a major commercial district in Delhi and is located just a short walk from Janpath. The redevelopment of Connaught Place is expected to have a major positive impact on the Janpath area. It is expected to be completed in 2025 and increase footfall, boost business activity, and drive up property prices. The project includes the following:
- The construction of a new metro station
- The renovation of existing buildings
- The creation of new public spaces
Real estate trends in Janpath, Delhi
Janpath, a well-established hub in Central Delhi, is attracting both homebuyers and investors due to its affordability, connectivity, and vibrant lifestyle. The area’s strategic location, lower property prices compared to neighbouring areas, and seamless access to the rest of Delhi via metro and road network make it an ideal choice for those seeking value for their money. With its mix of residential, commercial and retail establishments, lively atmosphere and ongoing redevelopment projects, Janpath is poised for continued growth and prosperity.
Emerging trends and future prospects
Janpath, a dynamic commercial hub in New Delhi, is continuously evolving to meet the changing demands of businesses and consumers. Several emerging trends are shaping the future of Janpath:
Diversification of retail offerings
Janpath is witnessing a diversification of its retail offerings, with a growing presence of modern retail brands alongside traditional shops. This diversification is catering to a wider range of consumer preferences and attracting a more diverse clientele.
Rejuvenation and redevelopment initiatives
The Delhi government has undertaken initiatives to rejuvenate and redevelop Janpath, aiming to enhance its infrastructure and aesthetics. These initiatives include:
- Upgrading the infrastructure: The government is working to improve the roads, sidewalks, and lighting in Janpath to make it more pedestrian-friendly and accessible.
- Enhancing the aesthetics: The government is also beautifying the area by planting trees, installing fountains, and creating plazas and seating areas.
- Promoting cultural activities: The government is organising cultural events and festivals in Janpath to attract more visitors and promote the area’s unique identity.
These initiatives are expected to further revitalise the area and attract new businesses and investments.
Sustainability and environment-conscious practices
Janpath is increasingly embracing sustainability and environment-conscious practices, aligning with the growing global emphasis on environmental protection. Several initiatives are being implemented to reduce the environmental impact of commercial activities in Janpath. These include:
- Waste management: Efficient waste management systems are being implemented to minimise the generation of waste and ensure proper disposal. This includes segregation of waste at source, collection of recyclable materials, and composting of organic waste.
- Green spaces and urban greenery: Janpath is incorporating more green spaces and urban greenery to enhance the area’s aesthetics and promote a healthier environment. This includes planting trees, creating parks and gardens, and installing planter boxes along the streets.
- Energy efficiency: Businesses are adopting energy-efficient practices, such as using LED lighting, installing solar panels, and retrofitting buildings with energy-efficient appliances. This is reducing energy consumption and lowering the area’s carbon footprint.
- Eco-friendly products and practices: The use of eco-friendly products and practices, such as biodegradable packaging, reusable shopping bags, and non-toxic cleaning products, is becoming more prevalent among businesses and consumers in Janpath. This is reducing the use of harmful chemicals and minimising the environmental impact of consumption activities.
These sustainability initiatives are not only beneficial for the environment but also contribute to a more pleasant and healthy experience for visitors and residents of Janpath.
Why invest in Janpath?
There are many reasons to invest in Janpath. Here are just a few:
- Strategic location: Janpath is located in the heart of New Delhi, close to major landmarks such as India Gate, the Taj Mahal and the Red Fort. This makes it a desirable location for both residents and tourists.
- Affordable housing options: Janpath is home to a wide range of housing options, from affordable apartments to luxury villas. This makes it an attractive option for investors of all budget levels.
- Improving infrastructure: The infrastructure in Janpath is improving rapidly. The government is investing in new roads, bridges and public transportation facilities. This will make Janpath an even more attractive place to live and work.
- Growing population: The population of Janpath is growing rapidly. This is creating a strong demand for housing, which is driving up property prices.
- Strong rental market: The rental market in Janpath is very strong. This is due to the high demand for housing and the growing number of tourists visiting Delhi. This makes Janpath a good investment option for those looking to generate rental income.
FAQs
What is Janpath famous for?
Janpath is famous for its street shopping, particularly for its affordable and fashionable clothing and accessories. It is also known for its authentic chikan embroidery work, a traditional art form of Lucknow.
Is Janpath better than Sarojini?
Janpath and Sarojini Nagar are both popular street shopping destinations in Delhi, each with its own unique charm and offerings. Janpath is known for its more trendy and upscale items, while Sarojini Nagar offers a wider variety of merchandise at even more affordable prices. Ultimately, the choice between Janpath and Sarojini Nagar depends on your personal style and budget.
What is the history of Janpath?
Janpath was built in the early 1920s as part of the construction of New Delhi. The road was named after Janaka,
How can I get to Janpath?
Janpath is easily accessible by public transportation. The nearest metro station is Janpath. You can also take a bus or rickshaw to Janpath.
Is Janpath safe?
Janpath is generally safe, but it is always advisable to be aware of your surroundings and take precautions against petty theft.
What are some shopping options available in Janpath?
Janpath offers a diverse range of shopping options to suit various tastes and budgets like government emporiums, brand stores, and street markets.
What makes Janpath a popular destination for visitors?
Janpath is a significant thoroughfare lined with government offices, embassies, shops, and tourist attractions. Its historical significance, shopping options, and cultural attractions make it a popular destination for visitors.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |