This document analyzes land values and price variation in the Kalkaji neighborhood of New Delhi. It finds that land prices have generally increased over time, with multi-story apartments commanding the highest prices and plotted houses the lowest. Price trends differ by property type, with apartments seeing steady growth while plotted houses experienced fluctuations. Proximity to transportation and amenities impacts prices, with values 150-200 Rs/sqft higher near the metro station or main road. Compared locales show large price differentials driven by factors like development nature, ownership, and demand/supply ratios.

2. Study of Variation in Land Values, Kalkaji 1
School of Planning & Architecture, New Delhi
Table of Contents
Abstract ......................................................................................2
1.1 Evolution of the Locality............................................................2
1.2 Location, Linkages & Connectivity ................................................2
1.3 Unit Rates & Trends in Kalkaji .....................................................4
1.3.1 Sale Price Trend.................................................................4
1.3.2 Rent Price........................................................................7
1.3.3 Sale Options, Area & Factors..................................................7
1.4 Comparison of Prices in the Vicinity ..............................................8
1.5 Understanding Price Variation in the Neighbourhood ..........................9
1.5.1 Land Use..........................................................................9
1.5.2 Building Height ..................................................................9
1.5.3 Plot Sizes....................................................................... 10
1.5.4 Price Variation & Factors .................................................... 10
1.6 Conclusion .......................................................................... 11
FIGURE 0.1: THE EVOLUTION OF THE KALKAJI & ITS VICINITY ...............................................................................................2
FIGURE 0.2: THE SALE PRICE TRENDS IN KALKAJI...............................................................................................................4
FIGURE 0.3: SALE PRICE TREND IN KALKAJI – MULTI-STOREY APARTMENTS............................................................................5
FIGURE 0.4: SALE PRICE TREND IN KALKAJI - BUILDER FLOOR APARTMENTS............................................................................6
FIGURE 0.5: SALE PRICE TREND IN KALKAJI - PLOTTED HOUSES ............................................................................................6
MAP 0.1: KALKAJI - MASTER PLAN OF DELHI & ZONE F ZONAL PLAN....................................................................................3
MAP 0.2: CONNECTIVITY OF KALKAJI TO MAJOR RAILWAY STATION & AIRPORT ......................................................................3
MAP 0.3: OVERLAID SATELLITE MAP SHOWING THE LAND USE & CONNECTIVITY.....................................................................4
MAP 0.4: BUILDING HEIGHT .........................................................................................................................................9
MAP 0.5: PLOT SIZES .................................................................................................................................................10
MAP 0.6: SELECTED PLOTS FOR COMPARISON ................................................................................................................11

3. Study of Variation in Land Values, Kalkaji 2
School of Planning & Architecture, New Delhi
A Study on Variation in Land Values – A Case of a
Neighbourhood in Kalkaji, New Delhi
Abstract
Kalkaji is located in the south zone of Delhi. This area falls under F zone under zonal
plan of New Delhi. F9 – Kalkaji and is majorly a residential locality. There is a general
trend of an increasing land prices in the area & it is a sought after locality. The
locality is a planned one comprising of midsize and large plot sizes. This study tries
to understand the various factors affecting the land prices at a settlement level and
at a neighbourhood level taking a case study of the locality in South Delhi.
1.1 Evolution of the Locality
The Kalkaji locality derives its name from the Kalkaji Temple which trace back its
origins in 1764; a temple constructed by the Maratha rulers. The year of 1952 stands
as a milestone as the Deshbandhu College was established as a memorial to the
martyr Deshbandhu Gupta by Ministry of Rehabilitation. On the immediate east is
the Okhla Industrial Estate; an industrial suburb established by National Small
Industries Corporation and to encourage small industries in the year 1958. To the
south of the locality is Chittaranjan Park also hence in known as C.R. Park; a home
to a large Bengali refugee migrants which was planned in the early 1960. The late
1960 saw the involvement of the private entity of DLF in the development of Greater
Kailash, an affluent neighbourhood.
Kalkaji was planned in 1970’s as a rehabilitation colony with plotted development
for refugees and space was allotted for small scale industrial schools. The north
vicinity to the area namely Nehru Place, Lotus Temple, Aastha Kunj and the metro
stations.
Source: Author
1.2 Location, Linkages & Connectivity
Kalkaji is located in the south zone of Delhi. This area falls under F zone under zonal
plan of New Delhi. F9 – Kalkaji and is majorly a residential locality. It is in close
proximity to the commercial and business district of Nehru Place, the affluent area
of Greater Kailash and the refugee colony of C.R. Park at the stone throw distance
to Okhla Industrial Estate and the unauthorised colony of Govindpuri to the east.
Figure 0.1: The Evolution of the Kalkaji & its Vicinity

4. Study of Variation in Land Values, Kalkaji 3
School of Planning & Architecture, New Delhi
In the master plan of 1962, the
Kalkaji block F-9 , has been
marked as green with industrial
area demarcated & the area of
Kalkaji has been shown as
residential with space allocated
for colleges and industrial in 2001;
whereas the area is
predominantly shown as
residential with demarcated
spaces for colleges, recreational,
and industrial in the 2021 master
plan.
The area is bounded by two roads,
the Outer Ring Road on the
eastern side and Ma Anandmayee
Marg on the western edge. Guru
Ravidass Marg is another city level
road between Kalkaji and
Govindpuri in the area. The three
roads together connect the area
to other parts of the city. Mullah
Issar Marg and Main Kalkaji Road
are the major roads that connect
the Outer Ring Road and Guru
Ravidass Marg.
This area is accessible by public
transport on Kalkaji Mandir,
Govindpuri Metro station and is near Bus Terminus-Nehru Place and Railway Station-
NIZAMUDDIN. The IGI airport is 16.5 Km. from the area & the nearest railway station
of Hazrat Nizamuddin Railway station is 7.5 km from here. The nearest metro station
is Govindpuri Metro Railway station & Kalkaji railway station. The area is well
connected by major road network, MRTS; and has accessibility to public and IPT
transport systems.
Map 0.2: Connectivity of Kalkaji to Major Railway station & Airport
Source: Google
Map 0.1: Kalkaji - Master Plan of Delhi & Zone F Zonal Plan

5. Study of Variation in Land Values, Kalkaji 4
School of Planning & Architecture, New Delhi
Map 0.3: Overlaid Satellite Map showing the Land use & Connectivity
Source: Google, Author
Kalkaji was developed to
be a rehabilitation
colony in the 1970’s.
Since then it has evolved
into a high density
residential and
commercial area. The
surrounding
developments around
the area gave rise to
commercial sector transforming it into a mixed use zone. People from parts of
Punjab and around have settled here.
The locality and its land values are stimulated by various social aspects in the area.
The proximity to the outer ring road, Main Kalkaji road and the metro line network
apart from the social amenities such as the accessibility to Deshbandhu College,
main commercial street, informal settlerment in the neighbourhood act as
stimulators to land price and hence property prices.
1.3 Unit Rates & Trends in Kalkaji
1.3.1 Sale Price Trend
The average price of a unit in Kalkaji is 11440 per sqft (Magic Bricks, 2017). The
properties are sorted as per the supply in the area as Multi-storey apartments,
Builder floor apartment and residential house.
Figure 0.2: The Sale Price Trends in Kalkaji
The rental yeild in the area is 2.59% with a high demand and medium supply curve,
wich is imposing housing stress on the user and working against affordability. As the
graph shows monthwise distribution where the month of May and April have had the

6. Study of Variation in Land Values, Kalkaji 5
School of Planning & Architecture, New Delhi
least price whereas the month of september 2016 and January 2017 have had soaring
prices and hence forth show a growing or incrreasing trend.
The locality as very few
multi storey apartments and this
typology proves be the highest in terms of
value. The builder floor apartment which is
the majority in the area with G*3 structures on an average are at a short run away
from the multi storey apartment prices, whereas the residential houses which are
majorly ground and G+1 structures fetch the least prices of the lot. The apartments
house larger densities in midrise. The trend of all the three typologies have a high
range width exposing the speculation and distortion in the market. The year 2013
proves as a milestone for all the three typologies as there is a sudden dip in the
existing graph.
1.3.1.1Multi-storey Apartment
A study of the sale price
trends in the locality
from the year 2009 to
the year 2017 show the
highest price to be Rs
15,014 per Sq-ft,
whereas the lowest
price is Rs.8,863 (Magic
Bricks, 2017). The
figure shows a
downward trend by 2%
where it started from
Rs.10, 517/sqft in 2009
to Rs.15, 014/sqft in the
year 2017. Through a
period of a little more
than a decade, the prices have been highly fluctuating throughout, looking out for
a stable growth in the near future. The steep rise in the prices in December 2010
from the all-time low values in September 2010 is justified by the construction of
the metro stations connecting it to major other areas. The prices moved leaps and
bounds till September 2013 when the prices were 18, 407 after which the graph did
not pick up and is gradually decreasing. Another prominent feature is the increasing
price ranges which was almost negligible in 2009 -10. The ranges have increase and
remained steady through 2013 to date. The distortions and the speculations in the
market have led to the wide ranges in the prices. A small depression in early 2017 is
a result of the demonetization phenomenon which took place on a national level.
Multi-storey Apartment – Rs. 11,939 per sqft
Builder Floor Apartment – Rs. 11,479 per
sqft
Residential Houses – Rs. 10,684
per sqft
Figure 0.3: Sale Price Trend in Kalkaji – Multi-Storey Apartments

7. Study of Variation in Land Values, Kalkaji 6
School of Planning & Architecture, New Delhi
1.3.1.2Builder Floor Apartment
The highest price in the
locality with respect to
builder floor apartments
is Rs, 14, 475/ sqft and
the lowest proves to be
Rs. 8, 484. Sqft (Magic
Bricks, 2017). The
trends of the builder
floor prices have an
upward graph of 5%. The
graph mas picked up
gradually from October
2009 consistently to
reach Rs. 19, 625/sqft in
March 2013. This subtle
increase in the prices
through the years justify
the reason for this
typology to be the major prevalent and affordable in the area. The range width have
been constant from 2013 through 2017. The trend shows a subtle downward growth
from 2013 to 2017 which also supports the popularity of the typology.
1.3.1.3Plotted House
The trend for the plotted house price/ sqft has been fluctuating heavily through the
years in Kalkaji. The major high is in the year 2010 with a dip in 2013 and later in
2017.
Figure 0.5: Sale Price Trend in Kalkaji - Plotted Houses
The highest price is Rs
13,371 per Sq-ft. with
an average price of Rs
10,684 per Sq-ft.
& lowest price of Rs
7,997 per Sq-ft. (Magic
Bricks, 2017). The
period from 2010 to
2013 saw a very high
boom in the prices per
square foot because of
the newly found metro
stations and it network
access to the area apart
from newly constructed
educational institutes in
the locality. There has been a gradual dip in the prices hence.
Figure 0.4: Sale Price Trend in Kalkaji - Builder Floor Apartments

8. Study of Variation in Land Values, Kalkaji 7
School of Planning & Architecture, New Delhi
1.3.2 Rent Price
The rent price ranges from Rs. 7000 to 1 Lac which caters different typologies in the
area namely the builder floors, plotted houses & apartments.
Source: Makaan, 2018
The rental value of a property also contrbutes ot the social stuctute of the locality.
Kalkaji is a composition of middle income group along with a small ector of low
income groups & mid rise.
1.3.3 Sale Options, Area & Factors
Table 0.1: Price Variation - Typology
Typology Sub Type Area Price Range
Apartment
1BHK 300 – 630 sqft 16.80 Lac – 30.20 Lac
2BHK 540 – 1300 sqft 57 Lac – 1.33 Cr
3BHK 1035 – 2000 sqft 1.20 Cr – 2.80 Cr
4BHK 1800 – 4844 sqft 2.10 Cr – 4.90 Cr
5BHK 1800 – 2844 sqft 2.10 Cr – 4.90 Cr
6BHK 2000 – 3500 sqft 4.50 Cr – 6.90 Cr
7BHK 3500 – 4500 sqft 7.50 Cr
Plotted
Houses
1BHK 360 – 500 sqft 23 Lac – 28 Lac
2BHK 550 -1150 sqft 50 Lac – 1.10 Cr
3BHK 1000 – 1800 sqft 70 – 1.70 Cr
4BHK 1500 - 2500 sqft 1Cr
5BHK 1740 – 2850 sqft 3 Cr – 4.70 Cr
6BHK 1800 – 3600 sqft 4.75 Cr – 7.20 Cr
7BHK 2400 – 4800 sqft 5.35 – 8.50 Cr
Source: Magic Bricks, 2018
Of all the options available in the area range from 300 – 3500 in multi storey
apartments with 360 – 4000 sqft in plotted development. The price ranges from 16
lakhs and gradually increases to 7.5 Crore from 1 BHK to a 7 BHK apartment whereas
the plotted houses receive an upper hand in the sale price where the prices range
from 23 lakhs to 8.5 Crore. These houses are majorly G+1 to G+3 structures. The
prices vary with respect to its proximity to the metro station and the main road. The
nearer the property is to a transit corridor the prices jumped about Rs. 150 – 200
/sqft. The proximity to a social amenity affected the property to a very small
extend. Areas facing the park and on the corner plot.

9. Study of Variation in Land Values, Kalkaji 8
School of Planning & Architecture, New Delhi
1.4 Comparison of Prices in the Vicinity
Two adjacent locations to Kalkaji are studied with respect to the average price per
square feet, demand and supply ratio and density of the fabric. The considered C.R.
park is a planned refugee colony by the DDA and Govindpuri is an unauthorized
colony boomed because of its proximity to the industrial and business centres.
Kalkaji C.R. Park Govindpuri
Table 0.2: Represents the Household Size
Criteria Kalkaji C.R Park Govindpuri
Average
Price/sqft
Rs. 11440/sqft Rs. 14515/sqft Rs. 4170/sqft
Demand vs
Supply
High Demand
Medium Supply
High Demand
Medium Supply
High Demand
Low Supply
Density
Source: Magic Bricks, 2018, Google Maps
The table above shows a drastic variation in the per square feet sale prices for three
adjacent localities. The locality of C.R. Park is priced higher in comparison to the
study locality and have a large differential to the area of Govindpuri. The density is
seen to be in direct proportion to the prices listed in the table above. The income
levels of the neighbourhood is seen to be in proportion to the price in the area. The
reasons for the variation include the nature of development such as organic or
unauthorized and planned construction. The nature of ownership hold a high
weightage in the variation of prices which is evident from the example of Govindpuri
which is drastically lower than the other two taken in for comparison. This also
justifies the demand and supply ratio which is very low in Govindpuri and higher in
comparison to C.R. Park and Kalkaji.

10. Study of Variation in Land Values, Kalkaji 9
School of Planning & Architecture, New Delhi
1.5 Understanding Price Variation in the Neighbourhood
1.5.1 Land Use
Predominant land use of the
area is Residential. Other than
residential, there are school,
convenient shopping areas,
commercial streets &
playground and other basic
amenities are getting fulfilled
in the area. It mainly includes, Builder flats & individual Plotted Housing and a
couple of multi-storey apartment. Major commercial activity is seen along the major
roads of the area. And is seen a presence of Community center, hospitals & Primary
School. Open Spaces are well maintained & on street parking is observed. Informal
market is observed along main road and near informal settlement.
1.5.2 Building Height
As per MPD 1962, majority
plots were G+1 and were G+2
storeyed. As per MPD 2021
norms, the permissible
heights of all plots have been
increased to G+3 storeys. Old '
G and G+1' storeyed
construction is being
renovated and transformed
into G+3 and G+4. According to MPD 2021 norms, the ground coverage and F.A.R of
Map 0.4: Building Height

11. Study of Variation in Land Values, Kalkaji 10
School of Planning & Architecture, New Delhi
all plots have been increased thereby increasing the total built up area of the study
area.
Table 3: Distribution of Building Height
Height No. of Units Percentage %
G 60 8.8
G+1 102 15.5
G+2 251 36.8
G+3 225 33.3
G+4 37 5.4
G+5 1 0.1
1.5.3 Plot Sizes
The plot sizes vary from 500 sq ft to 4000 sqft of which 47.2% of the plots ranged
between 500 – 1000 sqft which explains the presence of the majority plotted houses
and builder flats.
1.5.4 Price Variation & Factors
The property rates are continuously increasing in this area because of good
connectivity, availability of better infrastructure and security but in recent years
since 2013 there has been a dip in the Land Market, on account of weak economic
scenario and interest rates. Hence, certain builders under the pressure to sell are
willing to negotiate and mainly due to the demonetization. The Residential Sale
Prices in the area ranges from Rs 12,000- Rs 14,000 per sqft while the Rental prices
range from Rs. 20000 per month for plot size of 500 – 1000 sqft and goes upto Rs.
60,000 per month for a 4 BHK apartment.
Plot
Size
(sq ft)
No.
of
Unit
s
Percen
tage %
500-
1000
320 47.2
1000-
2000
317 46.8
2000–
3000
35 5.2
3000-
4000
6 0.9
Map 0.5: Plot sizes

12. Study of Variation in Land Values, Kalkaji 11
School of Planning & Architecture, New Delhi
The plot A has higher proximity to the green park opposite to it and hence shows a
greater value per sqft (12,000/sqft) than plot D which is land locked between other
plots but its value increases as its proximity towards the main commercial street is
nearer (11,500/ sqft). The plot B shows the greatest amount of rise in the value on
account of its location as a corner plot and the proximity to the park. The plot C
shows lower prices owing to the location of and the condition of the building along
with in the income groups in the area (11,000/sqft).
1.6 Conclusion
The land values in any area are stimulated by its density, FAR, nature of
development & the proximity to the transport corridors. It also depends on the
proximity to major commercial streets, location of plots and accessibility to the
green area in the vicinity. It shows a negative trend with a proximity to an informal
settlement or unplanned layouts.
Map 0.6: Selected Plots for Comparison
Plot A
Plot B
Plot C
Plot D