Vasant Vihar, a distinguished diplomatic and residential subdivision of South West Delhi, is a testament to luxury and exclusivity. Established in the 1960s, it has evolved into a prestigious residential locale, hosting over 50 diplomatic missions. With well-planned streets like Munirka Marg, Vasant Marg, Poorvi Marg, and Paschimi Marg, it forms the core of this posh locality, creating a triangle that encloses much of its charm. Boasting proximity to Chanakyapuri’s diplomatic enclave, Vasant Vihar offers premium independent residential properties and is connected to major parts of Delhi through robust infrastructure.
See also: What is the circle rate in Safdarjung Enclave, Delhi?
Vasant Vihar, Delhi: Why to invest here?
Vasant Vihar, Delhi, proves an enticing investment with strategic connectivity—14 km from Hazrat Nizamuddin Railway Station and linked to New Delhi through Outer Ring Road, National Highway-48, and Lala Lajpat Rai Road. Residents enjoy convenient access to Basant Lok market and Vasant Vihar metro station. The renowned Guru Hari Krishna Public School, accessible Summit Hospitals, and vibrant Vasant Lok Market enhance the area’s appeal. While it’s a hub for premium residential properties, the locality remains relatively tranquil at night. Municipality initiatives, LED street lights, and proximity to employment hubs contribute to a promising 12% rise in specific regions.
What are circle rates?
Circle rates, the bedrock of property transactions, dictate the minimum price at which a property must be registered. These government-designated guidelines, varying across states, serve dual purposes. State governments employ them to assess stamp duty charges, while the Central government utilises them for income tax evaluation. Reflecting factors like property category, location, and age, circle rates ensure transparency and prevent undervaluation.
Circle rates in Vasant Vihar, Delhi
Vasant Vihar, categorised under the highest bracket, “Category A,” has a circle rate of Rs 1.28 lakh per square metre. These rates, essential for buyers and investors, reflect the prominence and desirability of the locality. With periodic adjustments, they significantly impact the real estate landscape in Vasant Vihar, ensuring a fair baseline for property transactions.
| Circle rate per square metre | Residential construction cost per square metre | Commercial construction cost per square metre |
| Rs 7.74 lakh | Rs 21,960 | Rs 25,200 |
Real estate trends in Vasant Vihar, Delhi
Vasant Vihar in Delhi has witnessed a surge in real estate activity, focusing on premium residential and commercial properties. This surge can be attributed to its strategic location, connectivity, and the presence of essential amenities. Let’s delve deeper into the real estate overview of Vasant Vihar.
Vasant Vihar, Delhi: Location and connectivity
Vasant Vihar’s majestic extends beyond its luxurious properties. Positioned strategically near NH48, with proximity to Indira Gandhi International Airport and a dedicated metro station on the Magenta line, the area seamlessly connects to Gurgaon and other parts of Delhi. The Safdarjung Railway Station, just 3 km away, adds to the accessibility. The locality’s association with renowned industrial hubs like Noida and Gurgaon via Outer Ring Road and Lala Lajpat Rai Road solidifies its standing as a prime residential and commercial hub. Its allure is further accentuated by landmarks like Deer Park, Hauz Khas, and Qutub Minar.
Vasant Vihar, Delhi: Residential Properties
Vasant Vihar’s residential landscape is synonymous with luxury. Dominated by 4 BHK builder floors and premium housing projects such as Vasant Enclave and Hills View Apartments, the area has witnessed property prices ranging from Rs 5 Crore to Rs 20 Crore. The planned residential blocks, from A to F, each with its local market, contribute to the neighbourhood’s exclusivity. With proximity to educational institutions, healthcare facilities, and upscale retail centres, Vasant Vihar becomes not just a residential choice but a lifestyle statement.
Vasant Vihar, Delhi: Commercial properties
While Vasant Vihar’s residential charm is unparalleled, it also thrives as a commercial hub. The area hosts corporate offices like Hero MotoCorp in Basant Lok and accommodates diverse businesses. With Basant Lok Market, Ambience Mall, and DLF Emporio within a 4 km radius, Vasant Vihar is a dynamic blend of upscale residential living and a thriving commercial landscape. The connectivity to major office hubs in Saket District Center, Nehru Place, Bhikaji Cama Place, and Connaught Place further cements its stature in commercial real estate.
Factors affecting property prices in Vasant Vihar, Delhi
Market value
Property values in Vasant Vihar are influenced by market dynamics, with the market value often surpassing the circle rates.
Location advantage
The location within Vasant Vihar plays a crucial role, with properties in posh areas commanding higher circle rates than in average localities. For example, strategic placement near NH 48 and the diplomatic enclave Chanakyapuri enhances Vasant Vihar’s property value.
Connectivity
Seamless connectivity via metro, railway stations, and major roads contributes to higher property prices.
Amenities
Properties equipped with advanced amenities tend to command higher circle rates, reflecting the premium attached to such features. The coexistence of upscale malls, corporate offices, and commercial complexes enhances the commercial viability of the area.
Type of construction
Whether the government constructs a property or private developers influences its circle rate, with private developments often having higher rates.
Age of the property
The age of a property is a consideration, with newer constructions often commanding higher circle rates.
Category type of the Area
Vasant Vihar’s categorisation as a premium locality in “Category A” contributes to its higher circle rates than other categories.
Tourist attractions
Closeness to famous tourist spots like Hauz Khas and Qutub Minar adds to the overall charm of Vasant Vihar.
Usage
The purpose for which a property is used, whether residential or commercial, impacts its circle rate. Commercial properties generally have higher rates.
FAQs
What is a circle rate?
The circle rate in Delhi is the minimum price the state government sets for property transactions.
What factors affect circle rates in Delhi?
Factors include amenities, locality, category type, property type, market value, usage, connectivity, construction type, and property age.
What is the formula used by the government to calculate circle rates?
Circle rate can be calculated by applying the following formula: Circle rate = Part of the land ratio x land cost + flat area x building cost + common area x construction cost.
How do I find a circle rate in Delhi?
You can check the circle rate on the Delhi Online Registration Information System (DORIS) portal by providing information such as the area, type of land, and multiplier of the building or land.
What are the stamp duty and registration charges in Delhi?
Stamp duty in Delhi varies between 4% and 6%, while the registration fee is 1% of the transaction value.
What is the current circle rate for flats in Delhi?
The circle rate for flats in Delhi ranges from Rs 23,280 to Rs 7.74 lakh.
Is it obligatory to pay house tax in Delhi?
Yes, all property owners in Delhi must pay property tax.
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