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Akhil Wable, founder of DataforIndia, has purchased a 1,280-sq-yard plot in South Delhi's Vasant Vihar for INR 113 crore from Eleannt Enterprises, which had acquired it for INR 95 crore just months earlier. The deal underscores high demand and rapid appreciation in South Delhi's elite property market, where plots fetch INR 9-12 lakh per sq yard. However, construction is currently restricted on the plot due to its proximity to a ridge area. South Delhi, comprising 18,446 plots across 42 A-C category colonies, is valued at INR 5.65 lakh crore. Premium colonies like Vasant Vihar remain top-tier for high-value transactions.
Akhil Wable, founder of DataforIndia, has purchased a 1,280-square-yard plot in Vasant Vihar, South Delhi, for INR 113 crore. The property was acquired from Eleannt Enterprises, which had previously purchased the same plot for INR 95 crore in January of this year, paying INR 6.65 crore in stamp duty at that time. Advertisement
This transaction highlights the strong demand and notable appreciation in South Delhi's real estate market, a segment characterized by its limited property availability. Property transactions in Vasant Vihar are currently taking place at rates between INR 9 lakh and INR 12 lakh per square yard.
However, a challenge for the newly acquired plot is that the local authority is not currently granting construction permission due to its closeness to a ridge area.
The South Delhi real estate market, overall, is estimated to have a potential value of INR 5.65 lakh crore. The region includes about 18,446 plots spread across 42 colonies categorized as A, B, and C. These plots vary in size from 125 to 1,750 square yards, with average prices ranging from INR 6 lakh to INR 15 lakh per square yard.
Category A and B colonies, which are considered the most profitable, are mainly found in South Delhi and include areas like Vasant Vihar, Panchsheel Park, and Greater Kailash. The Municipal Corporation of Delhi (MCD) categorizes colonies from A to H, which influences factors such as circle rates, property tax, and stamp duty.
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