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Monday, 29 January 2007 |
 Defence Colony has grown over the years from a small centrally located officer’s colony of small bungalows to a large colony, well located in the NCR with much larger bungalows, rather buildings now. It is one of the prime localities of New Delhi, centrally located and surrounded by Lajpat Nagar, Lodhi Colony, South Extension and Greater Kailash I. It is well connected with Delhi’s CBD – Connaught Place and the International Airport. Several flyovers have reduced the waiting period at the numerous intersections around the colony. The presence of multiple gates, which restrict entrance and exit into the colony, especially in the night, has made Defence Colony, a relatively safe location within the NCR.
It is mainly a residential colony with a large number of bungalow plots, which have now been converted to very large multi-storied bungalows. The well-to-do occupants, owning several cars each, have converted its narrow streets into parking lots, due to lack of space within their compounds. At the same time it has several green areas for parks and also houses the prestigious Defence Club. The Defence Colony market is also well equipped with several showrooms, stores and restaurants. The presence of art galleries and fashion design houses has given this defence services area a prestigious name.
Last year, a Chinese MNC leased a three bedroom furnished apartment at an effective rate of Rs. 60,000 pm. A similar place without furniture also attracted a Korean company at a rental rate of Rs. 35,000 pm. A 1300-sq. ft. furnished apartment will set one back by about Rs. 50 lakhs. So this area is definitely a place well sought after for its large and private accommodation and central location. But now there seems to be limited space available for any further large-scale development. Table I below gives some of the indicative rates in Defence Colony for residential and commercial properties, along with those of its surrounding areas.
Property Rates for Delhi | Delhi | Residential | Commercial | | Karol Bagh | 7000-9000
| 7000-1100 | | Rajendra Nagar | 7000-9000 | 7500-10500 | Gole Market
| 5000-11000 | 6500-9500 | Chanakyapuri
| 5000-9000 | 6500-8500 | | South Extension | 5000-8000 | 4500-8500 | | Defence Colony | 5500-8500 | 6500-9000 | Lodi Colony
| 5000-8000 | 6000-9000 | Greater Kailash
| 2800-4000 | 4400-6500 | Hauz Khas
| 3200-4100 | 4000-7000 | Kalkaji
| 2400-3200 | 3200-6400 | Saket
| 3500-4800 | 4200-6200 | Vasant Vihar
| 3200-4000 | 4200-5500 | | Mayur Vihar | 3400-5500 | 4000-6000 | Malvia Nagar
| 3200-4000 | 4000-5500 | | Noida | 2700-3800 | 3200-5200 | Shastri Nagar
| 2800-3400 | 3200-5200 | Sadar Bazar
| 2000-2400 | 3000-4000 | | Kamla Nagar | 2400-3800 | 3000-4000 | Vaishalli
| 2800-4100 | 3000-4200 | IFCI Colony
| 2800-3400 | 3200-5200 | Rajouri Garden
| 2800-4300 | 3200-4400 | Janakpuri
| 3200-4600 | 4400-6500 | | Dwarka | 3600-4400 | 4200-6200 | Suryavihar
| 3200-4000 | 4700-5800 | Palam Gurgaon
| 2900-3300 | 3200-4300 | | Gurgaon (smaller) | 2800-3200 | 3200-6200 |
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