Greater Kailash, which is also referred to as GK, is a residential locality in Southern Delhi having many neighbourhoods and several market places. It is said to be home to the most prominent families in Delhi. Greater Kailash is divided into two main zones, Part 1 & Part 2, situated around the Outer Ring Road. Greater Kailash 1 was developed by DLF Limited in 1960, after the Delhi Government allowed developers to build many colonies in this locality. Now this is considered as one of the most affluent neighborhoods of the city. Most of the properties in Greater Kailash 1 are found in close proximity to markets, having a wide range of retails stores & restaurants etc..
Greater Kailash 1 & Greater Kailash 2
Block M and Block N of Greater Kailash 1 has many market areas, which are said to be among the top commercial areas in the city. It has a broad range of shops & retail stores including Giovanni, Puma, Next, Adidas, Lacoste and Nike, apart from having various restaurants and coffee shops. The Block N market has Fab India’s first retail store. Owing to the popularity of the Greater Kailash 1 properties in the real estate market, it was followed by the expansion of the even more acclaimed Greater Kailash 2. GK 2 has many popular market areas just like GK 1, and has easy accessibility to Outer Ring Road. This locality is considered to be the largest hub for sanitary wares in the whole of North India. According to the official list of colonies in Delhi, there are only 2 sections of Greater Kailash, namely GK 1 and GK 2.
Accessibility & Neighbourhoods
Greater Kailash has very good connectivity as it is located in very close proximity to the Outer Ring Road and thereby properties in Greater Kailash 2 have gained popularity in the recent times. The main advantage of Greater Kailash is its location, as it is situated at a distance of about 17 km from the Domestic Airport and about 22 km from the Indira Gandhi International Airport (IGI). Greater Kailash is well-connected with major areas of the city as there are many bus services provided by the Delhi Transport Corporation. Apart from this, the nearest station is the Nizamuddin railways station, which is about 9 km away from this locality. And the other station is the New Delhi Railway station, which is situated at a distance of about 15 km from Greater Kailash.
Some of the neighbouring localities of Greater Kailash 1 and 2 include East of Kailash, Lajpat Nagar, Nehru Place, Kalkaji, Masjid Moth, Chittaranjan Park, Kailash Colony, Sant Nagar, Hemkunt Colony, Siri Fort Road, Chirag Enclave and Pamposh Enclave.
Greater Kailash has been experiencing price appreciation and has slowly emerged as a top-notch locality in Delhi city. There are numerous housing projects being developed by prominent builders in and around this place. Few of the builders in Greater Kailash1 and Greater Kailash 2 include DLF Home Developers, Parsvnath Developers Limited, Ansal Housing, Ramprastha and Raheja Developers.
The highest locality price of residential multi-storey flats for sale in Greater Kailash 2 is around Rs. 20020 per square foot and the lowest price is around Rs. 18045 per square foot. And the average is around Rs. 19035 per square foot. The return on investment has witnessed a decrease of 10% q-o-q in June 2013. The average rental price for a commercial office space is around Rs. 120 per square foot. Greater Kailash properties are said to be experiencing good demand in the real estate market, as it has very good connectivity and all the necessary amenities people usually look for in a residential locality.