Residential Rentals in Gurgaon Float Horizontal

By: George Gonigal

Residential rentals in Gurgaon have almost come to a standstill for quite some time now. And this is really a sigh of relief for tenants who had been bearing the brunt of residential rentals rising incessantly for the past several years.

The real estate fraternity points out that at this juncture Gurgaon property markets are under way of receiving a whole lot of big residential projects at different parts of the city, and perhaps the new capacity additions in the residential real estate segment will be able to meet the demand side in quite an effective manner. However, the volume of supply would be much higher than that of the demand.

From another viewpoint, the same has explicitly cast impact on home rents as more and more alternatives are available to the prospective tenants and the landlords have to be competitive in order to lease out a residential property.

Until now, owing to the exorbitant residential rentals in Gurgaon, people tend to look for alternative destinations near the city. In general, apartment rent in Gurgaon starts from Rs 10,000 per month and go anywhere to the levels of Rs 2-lakh a month.

Rentals in Gurgaon are significantly higher than the surrounding locations of South Delhi, encompassing Dwarka, Vasant Kunj, Saket and Rohini.

The case with rentals of other residential properties in Gurgaon like builder floors, duplexes, triplexes and condominiums however is different. The monthly rentals for a 60 square yard residential unit (1BHK) starts from Rs 6,000-Rs 7,000 a month here and fits the budget of most of the prospective tenants. The issue here is limited availability.

Therefore in case a tenant is not able to get a house within his stipulated budget, he hires the same at a given price and then shift to other locations adjacent to Gurgaon after a few months from then.

While such trends prevail in the property markets of Gurgaon, the chances of any major hike in rental values are negligible. Real estate professionals also figure out that the house rent in Gurgaon is on top-ceiling and there is hardly any room for any spikes

For more details on Gurgaon Properties, log on to magicbricks.com

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