Though Vasundhara Enclave has every potential to attract the end-users, it fails to do so. Weak demand for housing units proves this.
DELHI-NCR: Though Vasundhara Enclave Delhi has been expected to become one of the hot residential locations, it still remains as an unpopular residential destination. Property prices are remaining more or less stable.
Vasundhara Enclave is close to East Delhi and Noida. There are many commercial and residential hubs in close proximity. Still, there is no much improvement for this location.
Those who work in Noida can easily reach their worksite from Vasundhara Enclave. They have easier access not only to many sectors of Noida but also to East Delhi. Yet, only a few are demanding residential apartments in this location.
The average rentals in this location is Rs.14000. The area provides various multistory homes and single story apartments. The average price of a multistory apartment is Rs.45 lakh to Rs.2 Cr. On the other end, the average price of residential apartment is Rs.2 Cr.
There are many schools and hospitals in this area. Still the demand for properties is very low.
Speaking about the sluggish real estate market in the area, a local real estate agent Sandeep Sharma said that the sluggishness is common to all areas in Delhi. Mr. Sharma runs a real estate agency in the locality under the title Asian Estate.
Another real estate agent said that the locality holds all features to thrive. He expects the sluggishness to get over soon. In his opinion the demand fell because of this sluggishness.
Kapoor Associates’ Anurag Kapoor agrees that the real estate market of Vasundhara Enclave is not up to the expectations. The local real estate agent too admits that there is no one to buy properties in this locality.
The local real estate experts say that the situation is expected to be over within a couple of months’ time. They are dubious, even when they say that home sales will pick up in the area soon.