GURGAON’S RISING RENTALS

The rentals of residential rose to the great extent in the Gurgaon during the past years. But with the decline in this streak the tenants get some respite from this burden. The rising demand for the rented accommodations was the reason behind the increasing rentals. The increased demand was the result of the rising population in the city after the establishment of the huge corporate sector. But now the situation has changed.

According to the fraternity dealing in the real estate the changing scenario is due to the increased supply of the housing projects in the city. Every construction company is ready to start their building project in any of the parts of the city. It is also predicted that with the starting of all these projects there would be enough housing accommodations that the supply will exceed the demand at some point. This will also keep a check on the ever rising rentals in the residential category.

The tenants will get more options of choosing the place to reside on their own terms and conditions. The landlords have to provide more facilities to grab the attention of the people who want to take a house on rent. The rental amounts will go down and the amenities provided by the owners will rise subsequently. It will ultimately give rise to the competition in this field of renting houses.

Till today the scenario was different, the people working in Gurgaon has to look for accommodations outside the city because of the high rentals. The rent of apartments, flats and independent houses was way beyond the reach of the common man. Though there are different types of accommodation capacity available catering to the needs of different people but everything in its respective zone was exorbitantly priced. So as an alternative the employees while working in big corporate houses has to look for other places.

The surrounding areas of Gurgaon include Saket, Dwarka, Rohini, South Delhi and Vasant Kunj. All these areas are cheaper than the city itself. That’s the reason why the people tried to find suitable accommodation somewhere else even if they are working in Gurgaon. Though there are other cheaper alternatives available in the form of duplexes, builder floors, condominiums and triplexes but all of these are available in a limited number. They are insufficient to accommodate the whole population of the outsiders working in the city.

Most of the tenants residing in these expensive flats stays only for a period of few months and then moved to some more suitable place. This situation only arises in some emergency cases. The condition is already this bad that any other possibility of hike is unimaginable. Instead of all this the property market in the city is on the high rise. Everyday more and more companies are investing their funds in the real estate business. They are working on this line by taking it as a profitable venture and it will remain profitable till the time when these corporate houses shut their business. This thing is not possible in the near future.