The latest developments in the rental property sector in India are garnering eyeballs of the masses. Today the world is acknowledging the potential of rental property and engrossing itself more to rent property in India. The recent trends showcased in surveys reveals that the rental rates in Delhi-NCR are touching heights. As much as 25 percent increase can be seen in the home rentals at present. A major chunk of real estate agents in India are looking for rental houses in particular. But to the downside of it lays another fact that, the sky rocketing property rates are abstaining middle class from buying property in India. Despite of easily repayable home loans and more tax benefits, the property investment in India is restricted and far from mainstream. But still those with good purchasing power and disposable income have lot to reap out from prevailing rental trends in India. Many NRIs too are now showing interest to rent property in India. There is a great demand for rental houses and rooms for rent, especially in the NCR sector. Apartment rentals too are almost set on fire, since the property rates in India have increased.
Cities like Gurgaon have witnessed more than 100% increase in the property rates. Flats which were earlier tagged somewhere between 10 to15 lacs are now available at an inflated cost of 40-45 lacs. The equilibrium of demand and supply has collapsed and the curve of supply has gone lopsided with demand escalating as highly as ever. Owing to these facts, there has been a continuous decline in the property sale in India. But the good news is that an equally greater interest is noticed in the rental property segment in India.
· Commercial rental property in India:
Investors in commercial property have shifted their focus from buying a commercial property to rent property in India. This is in fact a safer and affordable alternative at the disposal of investors. In the wake of the ever increasing property rates in India a recent trend was been noticed in rental shops and office spaces. The major chunk of commercial spaces is demanded specifically by the IT, ITES, BPOs and other MNCs. When your hunt for best commercial space to arrange the office terminates in India, why look any further? Rental shops and mall rentals are easily available in India at affordable rates, like strategic mall spaces, office locations, showroom location and retail outlets.
As the mall culture has swept inside the Indian lifestyle, it has certainly surfaced as one of the best investment options, yielding colossal returns in the forthcoming years.
· Residential rental property in India:
Cities like Delhi, Noida, Gurgaon, Chandigarh, Pune and Bangalore are among the most popular destinations for people looking for house for rent or apartments for rent. These cities are hospitable and offer great scope in career thus persuading people to come here and stay. Thus, with more and more people shifting their base to such cities, investors are making wealth by putting money in investment properties. It has become a source of regular income for investors playing their bet on residential rental property in India. This is the primary reason for inflation in the rents of rental properties in India. Especially the apartment rentals and luxury home rentals have gone out of limits.
Apart from PGs, flats etc. the more expensive rental properties like luxury homes, condominiums, terrace flats, farmhouses and villas are also in great demand. Being a safe investment choice, cities like Delhi and NCR are witnessing huge ascend in the demand of rental houses. Moreover the dawn of big corporate houses and MNCs in India has also pumped the demand for rental property that they require to accommodate their managerial staff.
Thus, as the demand for property remains steady and lots of BPOs and MNCs are hewing way to Indian terra firma, the rental property market in India has way to go.
