Mayur Vihar stands out as one of the prestigious locales in East Delhi, right on the Delhi-Noida corridor. It's consistently been a favored location among homebuyers thanks to its substantial Returns on Investment (ROI), excellent connectivity, and diverse residential offerings. In this article, I’ll explore the key reasons why investing in Mayur Vihar, Delhi, is a smart choice.
Introduction to Mayur Vihar, New Delhi:
Mayur Vihar, a luxurious residential area, is divided into phases—Phases 1, 2, and 3. The name derives from its proximity to a sanctuary dedicated to peacock preservation in East Delhi, where 'Mayur' means peacock and 'Vihar' signifies dwelling. The development began in the late 1970s when the government initiated the sale of flats built by the Delhi Development Authority (DDA) to Public Sector Units (PSUs) and semi-PSUs like Bharat Heavy Electricals Limited (BHEL). This was an experiment aimed at uniting various income groups within a single community. Today, each phase in Mayur Vihar reveals its unique statistics and characteristics.
Additionally, Mayur Vihar enjoys robust connectivity with public transportation and essential societal and civic infrastructure. The locality boasts a metro station on the Delhi Metro's Blue Line, making it incredibly accessible. Investing in Mayur Vihar at affordable prices means gaining access to abundant amenities and infrastructural benefits.
Real Estate Landscape in Mayur Vihar:
The real estate scene in Mayur Vihar varies across its three phases, each exhibiting distinct statistics.
Phase 1 Leads the Way: It ranks highest in terms of attractiveness and is regarded as the most upscale among the three. This premium market mainly features 2 BHK residential apartments priced between Rs 90 lakh and 1.5 crores, with the average price per sq. ft. exceeding Rs 11,000. Popular residential options here include builder floors, DDA flats, and cooperative housing societies.
Mayur Vihar Phase 2: This phase is quite favored by investors due to its affordability, offering 2 BHK units starting as low as Rs 40 lakh, extending up to Rs 1.6 crore, appealing to price-conscious buyers.
Mayur Vihar Phase 3: While this phase has some standalone flats and houses, it does not enjoy the same level of preference as the first two phases. It’s more renowned for its commercial establishments, with 2 BHK units available between Rs 50 lakh and 1 crore, and average residential rates around Rs 7,550 per sq. ft. Numerous flats under the Central and State Government's Housing Schemes, including DDA, can also be found here.
Budget Inventory Overview:
Area Name
Rs 0-50 lakh
Rs 50 lakh to 1 crore
Rs 1 – 1.5 crore
Rs 1.5 to 2 crore
More than Rs 2 crore
Mayur Vihar-1 13% 18% 38% 18% 12%
Mayur Vihar-2 2% 42% 33% 13% 10%
Mayur Vihar-3 40% 48% 10% 1% 0%
Job Accessibility in Mayur Vihar:
One of the prominent aspects attracting residents and potential buyers is the area's connectivity to workspaces. Since Mayur Vihar neighbors Noida, it places industrial hubs approximately 10 km away. The rise of numerous tech companies in Noida, such as IBM, TCS, and Genpact, also plays a crucial role in its appeal. Many who work in cities like Gurgaon call this area home due to its efficient metro services connecting directly to Gurgaon’s job centers via the Pink and Blue lines.
Essential Amenities and Infrastructure:
Moreover, Mayur Vihar is serviced by the New Delhi Municipal Corporation (NDMC), which has made significant strides in enhancing both social and physical infrastructure. Below are notable amenities available in the phases of Mayur Vihar:
Amenities
Phase 1: Kukreja Hospital, Manglam Hospital, Apex Citi Hospital
Phase 2: Lal Bahadur Shastri Hospital, Apex Citi Hospital
Phase 3: Metro Multispeciality Hospital, ESIC Model Hospital
Metro Connectivity:
Phase 1: Direct link to Blue and Pink Line
Phase 2: East Vinod Nagar to the Pink Line
Phase 3: Trilokpuri-Sanjay Lake to the Pink Line
Road Connectivity:
Phase 1: Via Noida Link Road, Delhi-Meerut Expressway
Phase 2: Accessible via NH-24 to Noida and Greater Noida
Phase 3: Proximity to NH-24
Schools:
Phase 1: Ahlcon Public School, ASN International School
Phase 2: Bal Bhavan Public School, Mayur Public School
Phase 3: Ryan International School, Somerville School
Places of Interest:
Phase 1: Akshardham Temple
Phase 2: Sanjay Lake
Phase 3: Neelam Mata Mandir
Retail Hubs:
Phase 1: Galleria Mall, Star City Mall
Phase 2: Pacific Mall, East Centre Mall
Phase 3: Gharoli Market, East Delhi Mall
It’s worth noting that Mayur Vihar is about 20 km from Indira Gandhi International (IGI) Airport and roughly 11 km from New Delhi Railway Station. Its prime location enhances Mayur Vihar's standing as a sought-after real estate area in East Delhi.
Investment Opportunities:
The property values in Mayur Vihar have remained stable, even in the face of the pandemic. The strong demand for rentals keeps it on the radar for investors. The minimum rental price for a semi-furnished 2 BHK apartment varies by phase:
Phase 1: Rs 24,000/month
Phase 2: Rs 18,000/month
Phase 3: Rs 13,000/month
Ultimately, the area's strategic development, healthy ROI, and varied real estate options provide numerous opportunities for diverse income groups interested in settling in a serene and verdant environment while enjoying a well-developed infrastructure.