Residential Rentals in DU Areas go Through the Roof

July 24, 2007	(Be the first to rate this story!)  Loading ...
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Rents for residential property in areas inhabited by outstation population especially DU students are going through the roof. A two room accommodation in locations like Hudson Lines and Outram Lines is available at no less than Rs 10,000-Rs 12,000 per month. The rent is even much higher in nearby locations.

Surprisingly, the rents in these locations have exceeded what the amount being fetched by landlords in the posh colonies of Delhi. For example: A two-bedroom accommodation in South Extension comes at a monthly rental ranging from Rs 9,000 – Rs 10,000 per month.

Contrary to this, the rents in upcoming residential hubs like Dwarka are considerably lower, at around Rs 5,500 per month for a two BR accommodation.

The sudden hike in residential rentals is believed to be an immediate outcome of a change in socio-economic profile of outstation students.  Students who were earlier jostling hard to earn a seat in any prominent Engineering College are now heading for commerce or humanity courses in the North Campus. They don’t mind paying extra to remain in vicinity of their college, says an official in DU’s students’ welfare department.

This is however the trend that has came into view in the past two to three years.

Add to that, there is a significant increase in number of outstation students pursuing undergraduate courses in DU north campus colleges. They seem to have grown from the mere 2,000 in 2004 to 4,000 in 2007.

Earlier, these students were from the North Eastern regions. Now, a lot of students from southern and western parts of India are also joining in the DU.

News Published Under:   Delhi |

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