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Important Trends in Real Estate and Property Rates in Delhi 2024
March 8, 2022
The state of Delhi has always been on the top in the priority list of the people to move and have a prosperous career owing to abundant academic and career opportunities available.
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Splattered across 1,484 square kilometers, the NCT of Delhi is the world’s second-largest metropolitan region with 28 million people residing here. The massive attention Delhi grabs from the migrants has led to the expensive property rates in Delhi.
Table of Contents
Property Rates in Delhi
As a good number of people relocating to Delhi looks for affordable rented flats, you can consider the following points before renting:
- People looking for a reasonable rented flat (1/2/3 BHK or 1 RK) under Rs. 20,000 per month can consider the locations of New Ashok Nagar, Pandav Nagar, Rohini, Dwarka, Najafgarh, Munirka, and Shakarpur.
- The concept of 1 RK is on high demand in the areas of MAyur Vihar Phase 1, Saket, Greater Kailash 1, Malviya Nagar, and East of Kailash. Such room settings are popular amongst students and professionals because of the low rent.
- Karampura and Ashok Nagar are two of the most expanding locations in Delhi with affordable rental rates.
- Paschim Vihar and Rajouri Garden are popular locations among tenants with rental costs starting from Rs. 4,000 per month for 1 BHK, 2 BHK, 3 BHK and other options.
- People searching for fully furnished rented houses in Delhi may consider the locations of Vasundhara Enclave and Patel Nagar.
- Luxurious properties in Delhi is available on rent in the locations of Defence Colony, Shanti Niketan, Vasant Vihar, Civil Lines, Panchsheel Park, Greater Kailash, Gulmohar Park, East of Kailash, Safdarjung Enclave, Pamposh Enclave, and Golf Links. The rates for rented properties in these locations range from Rs. 10,000 to Rs. 10 lakh.
Circle Rates in Delhi 2024
The circle rates in Delhi in 2024 are dependent on the square meter of properties. Find below the 2024 circle rates:
| Area | DDA society flats | Private builder flats |
|---|---|---|
| Multi-storey flats | Rs.1.1 lakhs | Rs.87,840 |
| More than 100 square meters | Rs.95,250 | Rs.76,200 |
| 50 to 100 square meters | Rs.79,488 | Rs.66,240 |
| 30 to 50 square meters | Rs.62,652 | Rs.54,480 |
| Up to 30 square meters | Rs.55,440 | Rs.50,400 |
Property Rates of Flats in Delhi
The average cost of flats or apartments in Delhi:
- 1 BHK – ₹ 40 lakhs
- 2 BHK – ₹ 85 lakhs
- 3 BHK – ₹ 2.5 crores
- 4 BHK – ₹ 5 crores
The current property rates in 2024 per square feet rate in Delhi for the flat cost are as follows:
| Locality Name | Price range per sqft | Price rise |
|---|---|---|
| Saket | 1,500 – 78,605 / sqft | -7% |
| Uttam Nagar | 1,120 – 38,000 / sqft | 5.40% |
| Paschim Vihar | 3,600 – 20,000 / sqft | -3.90% |
| Dwarka Mor | 1,200 – 11,692 / sqft | – |
| Safdarjung Enclave | 5,679 – 87,493 / sqft | -20.90% |
| Chattarpur | 1,667 – 76,782 / sqft | 32.20% |
| Greater kailash 1 | 13,514 – 78,566 / sqft | -15% |
| Rohini sector 24 | 5,556 – 17,391 / sqft | -61.60% |
| Defence Colony | 22,273 – 1,01,187 / sqft | 21.80% |
| Malviya Nagar | 4,348 – 16,667 / sqft | 41.10% |
| Hauz Khas | 14,615 – 1,16,458 / sqft | 14% |
| Vasant Kunj | 2,716 – 84,219 / sqft | 7% |
| Greater Kailash | 3,745 – 62,500 / sqft | 55.50% |
| Panchsheel Park | 16,667 – 1,18,765 / sqft | 39.20% |
| Vasant Vihar | 5,000 – 31,944 / sqft | -24.80% |
| Sector 19 Dwarka | 3,379 – 17,526 / sqft | -12.80% |
| New Friends Colony | 8,571 – 20,238 / sqft | -21.30% |
| Panchsheel Enclave | 12,486 – 80,443 / sqft | 26.20% |
| Lajpat Nagar | 5,500 – 19,111 / sqft | -18.80% |
| Green Park | 16,667 / sqft | -9.30% |
| Greater Kailash II | 64,408 / sqft | 53.40% |
| Sarvodaya Enclave | 88,889 / sqft | 36.10% |
| Anand Niketan | 1,15,916 – 1,19,899 / sqft | 113% |
| Sector 6 Dwarka | 2,545 – 15,918 / sqft | 16.70% |
| Gulmohar park | 22,222 – 65,710 / sqft | -22.60% |
| Shanti Niketan | 23,840 / sqft | -39.30% |
| Jor bagh | 1,89,032 / sqft | – |
| Sector 12 Dwarka | 5,682 – 15,625 / sqft | -25.70% |
| Geetanjali Enclave | 94,826 / sqft | 30.90% |
| Sarvpriya Vihar | 11,250 – 55,898 / sqft | -11.70% |
| Golf Links | 1,36,717 – 1,63,929 / sqft | – |
| Maharani Bagh | – | 239.90% |
| Niti Bagh | 72,167 – 74,651 / sqft | -19.90% |
| Sector 22 Dwarka | 5,625 – 18,182 / sqft | 3.40% |
| Pitampura | 2,142 – 26,316 / sqft | -8.50% |
| Uday Park | 55,636 / sqft | -54.90% |
| Navjeevan Vihar | 65,453 / sqft | 19% |
| Sunder Nagar | 1,30,270 – 1,64,002 / sqft | – |
| Friends Colony | 14,167 / sqft | – |
| Sector 4 Dwarka | 4,054 – 13,125 / sqft | 8.40% |
| Sector 10 Dwarka | 4,667 – 17,188 / sqft | – |
| Kalkaji | 2,667 – 44,444 / sqft | 18.20% |
| Sector 11 Dwarka | 2,593 – 17,857 / sqft | -14.60% |
| Sector-18 Dwarka | 6,400 – 16,667 / sqft | 6.40% |
| Sector 8 Dwarka | 3,333 – 12,222 / sqft | – |
| Sector 25 Rohini | 5,556 – 12,500 / sqft | – |
| Sheikh Sarai | 1,094 – 30,000 / sqft | 6.60% |
| Sector 23 Rohini | 4,118 – 11,739 / sqft | 26.50% |
| Rajouri Garden | 3,500 – 13,636 / sqft | -34.30% |
| Sector 11 Rohini | 6,250 – 13,888 / sqft | – |
| Sector 23 Dwarka | 4,700 – 12,500 / sqft | -17.40% |
| Punjabi Bagh | 3,833 – 16,667 / sqft | – |
| Sainik Farm | 3,000 – 1,17,693 / sqft | 2.90% |
| Burari | 2,353 – 7,500 / sqft | 59.90% |
| Ghitorni | 1,250 – 1,01,272 / sqft | -11.10% |
| Sector 5 Dwarka | 6,077 – 13,793 / sqft | 11.30% |
| Shahdara | 1,000 – 11,304 / sqft | -31.80% |
| East of Kailash | 12,500 – 20,000 / sqft | -47.60% |
| Govindpuri | 2,083 – 6,111 / sqft | – |
| Sector 7 Dwarka | 2,308 – 16,957 / sqft | -28.60% |
Circle Rates for Residential and Commercial Plots in Delhi 2024
The average plot rate in Delhi is ₹5327/sq. ft.
The current property rates in 2024 per square feet rate in Delhi for the flat cost are as follows:
| Plot rate (per sq. m.) | Residential construction cost (per sq. m.) | Commercial construction cost (per sq. m) |
|---|---|---|
| 7.74 lakhs | 21,960 | 25,200 |
| 2.46 lakhs | 17,400 | 19,920 |
| 1.6 lakhs | 13,920 | 15,960 |
| 1.28 lakhs | 11,160 | 12,840 |
| 70,080 | 9,360 | 10,800 |
| 56,640 | 8,220 | 9,480 |
| 46,200 | 6,960 | 8,040 |
| 23,280 | 3,480 | 3,960 |
Independent House Rates in Delhi 2024
The average price for independent house rates in Delhi in 2024 is given below:
- 1 BHK- ₹ 54 lakhs
- 2 BHK- ₹ 95 lakhs
- 3 BHK- ₹ 4.2 crores
- 4 BHK- ₹ 5.5 crores
| Locality Name | Price range per sq. ft. | Price rise |
|---|---|---|
| Vasant Kunj | 15,682 – 20,315/sq. ft. | Constant |
| Dwarka Mor | 3,485 – 4,165/sq. ft. | Constant |
| Mayur Vihar – I | 4,208 – 5,652/sq. ft. | -6.61% |
| Uttam Nagar | 3,442 – 4,208/sq. ft. | -1.11% |
| Mohan Garden | 3,230 – 3,995/sq. ft. | Constant |
| Sadh Nagar | 4,038 – 5,440/sq. ft. | 1.93% |
| New Moti Nagar | 4,845 – 5,695/sq. ft. | 0% |
| Greater Kailash I | 14,365 – 18,020/sq. ft. | 0.79% |
| Kakrola | 3,400 – 4,292/sq. ft. | -4.30% |
| Rajouri Garden | 8,542 – 11,772/sq. ft. | 2.60% |
| Defence Colony | 19,168 – 24,395/sq. ft. | -5.28% |
| New Friends Colony | 12,198 – 15,768/sq. ft. | Constant |
| Sector-7 Rohini | 8,160 – 10,582/sq. ft. | 3.74% |
| Krishna Nagar | 4,760 – 6,248/sq. ft. | 2.38% |
| Punjabi Bagh | 11,348 – 13,728/sq. ft. | Constant |
Average Rental Rates in Delhi 2024
| Locality name | 1 BHK rental cost | 2 BHK rental cost | 3 BHK rental cost | 1 RK rental cost |
|---|---|---|---|---|
| Uttam Nagar | 7,800 | 13,500 | 15,000 | 7,500 |
| Saket | 13,850 | 28,500 | 57,500 | 9,500 |
| Dwarka Mor | 7,350 | 9,750 | 14,750 | 6,000 |
| Paschim Vihar | 11,500 | 16,500 | 39,000 | 10,500 |
| Greater Kailash 1 | 37,500 | 42,500 | 87,500 | 25,500 |
| Vasant Kunj | 16,250 | 27,250 | 37,250 | 12,250 |
| Defence Colony | 35,500 | 53,000 | 99,000 | 27,500 |
| Hauz Khas | 28,750 | 41,500 | 66,500 | 15,500 |
| Vasant Vihar | 30,500 | 74,500 | 1,78,500 | 22,500 |
| Panchsheel Park | 32,500 | 69,500 | 1,85,500 | 25,500 |
| New Friends Colony | 15,000 | 54,000 | 59,000 | 12,000 |
| Lajpat Nagar | 15,200 | 25,000 | 46,000 | 12,250 |
| East of Kailash | 28,500 | 47,500 | 56,500 | 17,500 |
| Rajouri Garden | 13,750 | 22,750 | 38,500 | 10,750 |
| Punjabi Bagh | 13,750 | 18,500 | 50,500 | 10,000 |
How to Calculate Property Value in Delhi?
Property value is important to calculate stamp duty charges in Delhi . These charges are estimated on the basis of circle rates in the following steps:
- Calculate plot area, built-up area, amenities, construction’s age, floor, etc.
- Select the property type (residential plot, commercial plot, builder floor, apartment, or shop.
- Choose the property location.
- Calculate the minimum assessment value according to circle rates.
This helps you plan your property purchase in a better way and gives you clarity on availing home loans.
Formula for calculating property value = Built-up area (in sq. mts.) * circle rate for localityFrequently Asked Questions (FAQs) – Rates of Property in Delhi
Q. What is the average rent of 1 BHK in Delhi?
The average rent of 1 BHK in Delhi is Rs. 18,000.
Q. What is the average 2 BHK rent in Delhi?
The average 2 BHK rent in Delhi is Rs. 30,000.
Q. How much is the average price of 3 BHK rent in Delhi?
The average price of 3 BHK rent in Delhi is 40,000.
Q. How much is the average cost of 1 BHK in Delhi?
The average cost of 1 BHK in Delhi is Rs. 10 lakhs to Rs. 18 lakhs.
Q. What is the average price of 2 BHK in Delhi?
The average price of 2 BHK in Delhi is somewhere around Rs. 22 lakh to Rs. 50 lakh.
Q. What is the approx. cost of 3 BHK in Delhi?
The approx. cost of 3 BHK in Delhi is Rs. 60 lakh to Rs. 1.20 crore.
Q. What are the most expensive residential locations in Delhi?
Greater Kailash, Sunder Nagar, Hauz Khas, Green Park, and Panchsheel Park are some of the most expensive residential locations in Delhi.
Q. Which areas are best for students in Delhi?
Sarita Vihar, Laxmi Nagar, Rajendra Nagar, Rajouri Garden, Mukherjee Nagar, etc. are some of the best areas for students in Delhi.
Sakshi Ecavade is our in-house content developer tapping every area of knowledge to convert it into readily available information for the end-users.A passionate writer & blogger by profession, she just loves to explore new arenas of possibilities in content development.
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