Besides being the capital city of India, Delhi is also a centre of politics, education, jobs and fashion. With many posh areas in Delhi, the city is home to 30 billionaires, second only to Mumbai, which has 50, as per the Hurun Global Rich List 2020. It is then not surprising that New Delhi has some of the most desired and expensive pin codes. While properties for sale in Delhiās expensive residential areas are few, due to saturation of land parcels, there may be some properties available on rent or after redevelopment.
In this article, we will talk about the top 10 posh residential areas in Delhi.
Jor Bagh
A posh area in south Delhi, Jor Bagh is close to the Safdarjung’s Tomb and is served by the Jor Bagh Metro Station. Its proximity to lifestyle avenues, such as malls, connectivity to other strategic locations and historic monuments and the overall liveability index, make it a good fit to feature in Delhiās top 10 expensive areas to live.
Properties for sale in Jor Bagh: Real estate prices in Jor Bagh start at Rs 13 crores and may even go up to Rs 78 crores, as per current listings on Housing.com. There is limited supply of properties in the resale market but redevelopment projects are opening up new steel-and-glass builder floors.
Properties for rent in Jor Bagh: Depending upon the size and exact location, rentals may start from Rs 35,000 per month for smaller configurations and go up to even Rs 10 lakhs a month for larger homes such as a 5BHK independent houses.
Bollywood star Sonam Kapoorās husband Anand Ahuja grew up in Jor Bagh, while former telecom and human resource development minister Kapil Sibal is also said to have had a property on rent in Jor Bagh.
Check out price trends in Jor Bagh
Shanti Niketan
Initially an exclusive housing colony for government officials, Shanti Niketan is a coveted address today. Considered one of the posh areas of Delhi, its strategic placement, close to other high-end localities like Chanakyapuri or even Vasant Vihar, has added to its charm. The liveability index is undeniably high, with top industrialists opting for it.
Properties for sale in Shanti Niketan: Compared to other expensive areas, there is a slightly greater supply of resale units in Shanti Niketan. According to Housing.com listings, prices of properties here start at Rs 5 crores and can go up to Rs 80 crores.
Properties for rent in Shanti Niketan: Rental values of plush properties in Shanti Niketan can go up to Rs 6 lakhs, as per current listings on Housing.com.
Industrialist Sandeep Jajodia owns a property in Shanti Niketan.
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Defence Colony
Defence Colony is a locality situated in the heart of Delhi, known for its serene environment. The area has easy access to the Delhi Metro, Indira Gandhi International Airport, Nizamuddin Railway Station, and Delhi Metro. There are well-known eateries, shopping complexes, and malls located nearby.
Properties for sale in Defence Colony: According to Housing.com listings, prices of properties here start at Rs 2.6 crore and go up to Rs 45 crore.
Properties for rent in Defence Colony: Rental values of properties in the locality go up Rs 5 lakhs.
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Gulmohar Park
Maintained by the Delhi Development Authority (DDA), Gulmohar Park is one of the affluent localities in the city. In the past, a group of journalists also helped to establish this locality and its neighbourhoods and since the 1970s, it has remained a posh locality. Some of the top names in Bollywood, senior lawyers, journalists and top businessmen, reside or own properties here.
Properties for sale in Gulmohar Park: Property prices in Gulmohar Park can start from Rs 1 crore for a standard-sized unit and go up to as much as Rs 30 crores.
Properties for rent in Gulmohar Park: Even 1RK configurations can cost anywhere up to Rs 30,000 per month, while an independent house may cost Rs 4.5 lakhs per month.
Big-B Amitabh Bachchanās residence in Delhi is in Gulmohar Park.
Check out price trends in Gulmohar Park
Hauz Khas
Hauz Khas is a popular location in Delhi even for non-residents, thanks to the multiple shopping and hangout avenues available in the vicinity. The area is home to some of the finest bungalows in Delhi.
Properties for sale in Hauz Khas: A cursory glance of Housing.com suggests that units for sale in Hauz Khas can range between Rs 2 crores to as much as Rs 78 crores, as per listings on the site currently.
Properties for rent in Hauz Khas: There are over 200 units on rent now, with 1RK units starting at Rs 15,000 per month, while the plush units and independent homes may command anywhere up to Rs 10 lakhs, depending on its size and amenities.
Check out price trends in Hauz Khas
Safdarjung
You will find some of the richest people living in this area in Delhi. Home to many high-net worth individuals and NRIs, Safdarjung is south of Hauz Khas and a prominent location in Delhi. One of the posh areas in Delhi, the area enjoys smooth connectivity to other parts of the city and also boasts of quick access to some of the reputed healthcare and educational institutions, besides shopping malls, parks and leisure zones.
Properties for sale in Safdarjung: Two-bedroom units will cost anywhere from a crore and upwards, while property prices in general can go up to Rs 50 crores, as per current listings. Residential plots are also available.
Properties for rent in Safdarjung: 1RK or 1BHK units usually cost less than Rs 25,000 per month, while villas and independent homes can cost Rs 4 lakhs a month, as per listings.
Checkout price trends in Safdarjung
Panchsheel Enclave
Another hotspot for the rich and the famous, Panchsheel Enclave is south Delhiās coveted destination. Most popular and posh area in Delhi, the locality is served by the Panchsheel Park metro station and the area is self-sufficient, with numerous facilities at hand and smooth access to all that you need.
Properties for sale in Panchsheel Enclave: Current listings show that property prices are in the range of Rs 1 crore to Rs 30 crores.
Properties for rent in Panchsheel Enclave: Properties on rent range between Rs 15,000 per month and Rs 4.5 lakhs, as per listings.
Check out price trends in Panchsheel Enclave
Green Park
Green Park, a posh area in Delhi, is divided into Main and Extension and easily features in the list of affluent localities in the city. Considered the best residential area in Delhi, the locality has several parks and ample greenery, which makes it a desired location. Properties are usually in plots of 200-1,500 sq yards.
Properties for sale in Green Park: Looking for homes in this area? A quick look on Housing.com suggests that prices can range between Rs 1.20 crores to Rs 60 crores, depending upon the configuration and type of property.
Properties for rent in Green Park: While smaller configurations such as a 1RK units may cost less than Rs 20,000 per month, some palatial bungalows will cost Rs 12.5 lakhs per month.
Check out price trends in Green Park
Greater Kailash
It is counted among Delhiās most expensive areas. Also known as GK, the locality is divided into two parts – Part 1 and 2. Greater Kailash is home, to not just celebrities and politicians but also houses some of the leading retail brands. In terms of liveability, the locality gets a 9/10 with many healthcare facilities, schools, etc., in the vicinity.
Properties for sale in Greater Kailash: Even 1RK units command as much as Rs 30 lakhs in GK 1 and 2. Properties on sale go up to Rs 50 crores.
Properties for rent in Greater Kailash: With apartment units, villas and independent homes, Greater Kailash has all of it, with rental values ranging from Rs 20,000 to Rs 12.5 lakhs per month.
Check out price trends in Greater Kailash
Golf Links
Within a walking distance of Khan Market, Golf Links is popular locality in Delhi. Some of the rich families reside in this area.. Recently, Paytm founder Vijay Shekhar Sharma bought a residential property worth Rs 82 crores in this part of Lutyens Delhi.
Properties for sale in Golf Links: Big-ticket properties are not uncommon here. As per property listings portal Housing.com, properties currently on sale are in the range of Rs 12 crores to Rs 85 crores.
Properties for rent in Golf Links: If you are looking at a spacious and luxurious property in Golf Links for rent, be ready to spend at least a few lakhs.
Check out price trends in Golf Links
Jangpura Extension
Connected by the Jangpura Extn Metro station, this south Delhi neighbourhood is an established one and boasts of access to all lifestyle, healthcare and leisure avenues and is frequented by tourists, locals and expats.
Properties for sale in Jangpura Extension: Both residential plots and independent homes are equally popular in this posh colony, with prices going up to Rs 11.50 crores, as per current listings.
Properties for rent in Jangpura Extension: Rental values go up to Rs 2.5 lakhs while 1RK units costing less than Rs 20,000 per month are also popular.
Check out prices in Jangpura Extension
Vasant Vihar
Vasant Vihar is located in the South West sub-division in New Delhi, and one of the post neighbourhoods of the city with premium independent residential properties. The locality is close to the Indira Gandhi International airport and is around 5 km from Hauz Khas Metro Station located on the Delhi Metroās magenta line.
Properties for sale in Vasant Vihar: Apartments and independent homes are available in this locality, with prices up to Rs 1 lakh per sq ft.
Properties for rent in Vasant Vihar: Rental values go up to Rs 3 lakhs while there are properties for rent available for Rs 20,000 per month.
New Friends Colony
New Friends Colony is one of the posh neighbourhoods in Delhi. There are some of top colleges from the South campus and Jamia Millia Islamia Universityin the vicinity. The area has good connectivity through Mathura Road. The locality has all sorts of properties including, residential houses, plots, apartments and villas.
Properties for sale in New Friends Colony: Properties, including 3BHK and 4BHK apartments, are available in the price range of Rs 90 lakh to Rs 4 crore. The prices can go up to Rs 20 crore.
Properties for sale in New Friends Colony: Apartments are available on rent starting from Rs 20,000 to Rs 5 lakh per month.
Prithviraj Road
Prithviraj Road is one of the premium residential localities located in Central Delhi. The area houses the residences of worldās various ambassadors, ministers, and diplomats. In the vicinity, there are embassies located of different countries. Prithviraj Road is near other posh localities of Delhi such as Aurangzeb Road, and Amrita Shergill Marg.
Properties for sale in Prithviraj Road: The prices of apartments in this locality is around Rs lakh per sqft.
Properties for rent in Prithviraj Road: Rental properties in the locality are available for a monthly rent of around Rs 3 lakh.
Model Town
Model Town in North Delhi is an upmarket neighbourhood, populat for its high-end bungalows and villas. It is one of the oldest localities in Delhi constructed by the DLF Group and comprises the sub-localities of Adarsh Nagar, Azadpur and GTB Nagar.
Properties for sale in Model Town: There are several luxury apartments of 3BHK, 4BHK and 5BHK available for investment, in the range of Rs 8 to 15 crore.
Properties for rent in Model Town: 1BHK, 2BHK and 3BHK apartments are available for an average monthly rent of Rs 15,000 to Rs 40,000.
Vasant Kunj
Vasant Kunj is an affluent neighbourhood in Southwest Delhi comprising of luxurious bungalows, independent houses and farmhouses.
Properties for sale in Vasant Kunj: There are apartment, independent houses and villas available for investment. Luxurious 4BHK and 5BHK villas are available in the price range of Rs 12 to 15 crore.
Properties for rent in Vasant Kunj: There are several rental properties available in Vasant Kunj with an average rent of Rs 50,000.
Chanakyapuri
Chanakyapuri is a neighbourhood and a diplomatic enclave in New Delhi. The area is also known for its educational institutions such as Jesus and Mary College and Maitreyi College, which are a part of the Delhi University.
Properties for sale in Chanakyapuri: There are luxurious villas in the area with a price of Rs 3 lakh per sqft.
Properties for rent in Chanakyapuri: Rental properties in the neighbouring localities are available in the range of Rs 30,000 to Rs 45,000. Independent builder floors in Chanakyapuri are available for around Rs 3 to 4 lakh monthly rent.
Punjabi Bagh
Punjabi Bagh is a well-developed residential locality in West Delhi, which comprises several bungalows and low-rise apartments.
Properties for sale in Punjabi Bagh: Luxurious 3BHK and 4BHK homes are available for investment for a price ranging around Rs 3 crore to Rs 5 crore.
Properties for rent in Punjabi Bagh: There are numerous 1BHK, 2BHK and 3BHK properties available for a monthly rent ranging between Rs 25,000 to Rs 80,000.
Most expensive areas in Delhi: Real estate prices
| Locality | Minimum-maximum rentĀ | Minimum-maximum property costĀ |
| Jor Bagh | Rs 35,000 ā Rs 10 lakhs | Rs 13 crores ā Rs 78 crores |
| Shanti Niketan | Rs 40,000 ā Rs 6 lakhs | Rs 5 crores ā Rs 80 crores |
| Defence Colony | Rs 32,000 ā Rs 5 lakhs | Rs 1.9 crore ā Rs 39 crore |
| Gulmohar Park | Rs 30,000 ā Rs 4.5 lakhs | Rs 1 crore ā Rs 30 crores |
| Hauz Khas | Rs 15,000 ā Rs 10 lakhs | Rs 2 crores ā Rs 78 crores |
| Safdarjung | Rs 25,000 ā Rs 4 lakhs | Rs 1 crore ā Rs 50 crores |
| Panchsheel Enclave | Rs 15,000 ā Rs 4.5 lakhs | Rs 1 crore ā Rs 30 crores |
| Green Park | Rs 20,000 ā Rs 12.50 lakhs | Rs 1.20 crores ā Rs 60 crores |
| Greater Kailash | Rs 20,000 ā Rs 12.50 lakhs | Rs 30 lakhs ā Rs 50 crores |
| Golf Links | Rs 1 lakhs and onwards | Rs 12 crores ā Rs 85 crores |
| Jangpura Extension | Rs 20,000 ā Rs 2.5 lakhs | Rs 1 crore ā Rs 11.50 crores |
| Vasant Vihar | Rs 18,000 ā Rs 3 lakh | Rs 60 lakhs ā Rs 60 crore |
| New Friends Colony | Rs 20,000 ā Rs 5 lakh | Rs 90 lakhs ā Rs 4 crore |
| Prithviraj Road | Rs 1.2 lakh to Rs 3 lakh | Rs 4 crore to Rs 6 crore |
| Model Town | Rs 65,000 to Rs 2 lakh | Rs 50 lakh to Rs 15 crore |
| Vasant Kunj | Rs 50,000 to Rs 5 lakh | Rs 60 lakh to 6 crore |
| Chanakyapuri | Rs 3 lakh | Rs 5 crore to Rs 18 crore |
| Punjabi Bagh | Rs 25,000 to Rs 80,000 | Rs 70 lakh to Rs 5 crore |
Note: Prices mentioned here are on the basis of current listings available on Housing.com
Check out the cost of living in Delhi.
Posh areas in Delhi: Average per sq ft value
| Locality | Average per sq ft valueĀ |
| Jor Bagh | Rs 70,234 |
| Shanti Niketan | Rs 62,888 |
| Defence Colony | Rs 60,000 |
| Gulmohar Park | Rs 25,329 |
| Hauz Khas | Rs 29,344 |
| Safdarjung | Rs 21,158 |
| Panchsheel Enclave | Rs 25,079 |
| Green Park | Rs 28,367 |
| Greater Kailash | Rs 29,804 |
| Golf Links | Rs 93,746 |
| Jangpura Extension | Rs 18,482 |
| Vasant Vihar | Rs 38,254 |
| New Friends Colony | Rs 21,678 |
| Prithviraj Road | Rs 1,40,000 |
| Model Town | Rs 21,926 |
| Vasant Kunj | Rs 69,531 |
| Chanakyapuri | Rs 81,492 |
| Punjabi Bagh | Rs 40,319 |
Explore rates and trends in Delhi
Posh areas in Delhi: Developers
The national capital Delhi has several posh neighbourhoods, offering properties to buy and rent. Some of the well-known developers operating in these areas include DLF Limited, Godrej Properties, Raheja Developers, Ashiana Housing, Unity Group and Parsvnath Developers Limited.
What makes South Delhi so popular among the rich and affluent?
Most of the localities mentioned above are in south Delhi. While most of Delhi is saturated and property prices for the existing stock are skyrocketing in the established areas, south Delhi remains a niche market. From second-generation businessmen to first-generation entrepreneurs and high salaried professionals, their desire to achieve a better standard of living leads them to prominent addresses by brands that promise quality, says Nishit Jalan, CEO, Grovy India Limited.
New constructions are also coming up. āāØThere are many projects under construction. Of these, some are being developed by the land owners themselves for self-use and some by regular developers. The luxury housing in its true sense is a very niche market and only a handful of developers work in this segment. Due to this, the availability of luxury projects is always limited as they cater to a very specific clientele,ā Jalan adds.
The concept of boutique spaces has also gained focus. Although it has been around for a very long time, this concept was mainly used by the hospitality sector due to the specialised designing that it requires. Now, with the easy availability of design ideas and innovative materials, creating such boutique homes, with sophisticated ambience and custom-made luxurious spaces is an achievable reality. South Delhi is a very diverse region, as far as prices are concerned as the land size also varies from 100 sq yards to 1,200 sq yards. A well-constructed 200-sq yard floor should be available for upwards of Rs 3 crores, depending on the location, observes Jalan.
Meanwhile, traditional homes across south Delhi have also come into the market, either as part of redevelopment or renovation. The localityās charm, central location, established neighbourhood and with the whoās who of Delhi in the vicinity, property prices run into crores.
Delhi’s luxury real estate
According to a report, out of 10,570 units launched in the NCR in the first six months of 2021, at least 17% (approximately 1,800 units) were in the luxury and ultra-luxury segments, which were priced more than Rs 1.5 crores. Interestingly, Noida accounted for the maximum share of such launches, followed by Gurgaon. With the luxury market in Delhi being mostly saturated and restricted to farmhouses and bungalows, the luxury segment in the NCR towns now includes apartments that have all modern furnishings and layouts designed by some of the big names including Gauri Khan and Suzzane Khan.
Earlier, research reports have indicated that in spite of the COVID-19 pandemic, those looking to buy a property are willing to test the waters. Kaustav Mandal, city-based broker says that luxury homes in south Delhi are garnering attention. “The jolt that the Coronavirus brought about, was temporary. Many resale deals were already on and have been completed, with a little delay though. Among those who had set their eyes on properties, about 85% of them have gone ahead with the deal,” he says.
Luxury properties in the resale market
Either due to the location or the cost, properties that qualify as ‘luxury’ in Delhi, are far more in the resale market now than new constructions. For new constructions, prospective home buyers generally move to the National Capital Region, where luxury homes are available at a far better entry prices than in the capital. In 2021, trend-watchers maintain that as the quality of infrastructure improves in Noida, there may be more takers. Noida and Gurgaon are now home to some of the big and reputed brands in the real estate industry.
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FAQs
How many billionaires are there in India in 2020?
As per Forbes, there are 102 billionaires in India in 2020, as against 109 in 2019.
Where did Paytm founder Vijay Shekhar Sharma recently buy a residential property in Delhi?
Recently, Paytm founder Vijay Shekhar Sharma bought a residential property in Delhi worth Rs 82 crores at Golf Links.
Which is the most expensive area in Delhi?
Lutyens Bungalow Zone is one of the posh areas in Delhi. The property prices are in the range of Rs 9 crore to 150 crore.
(With inputs from Sneha Sharon Mammen)
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