Residential Rental Properties in Gurgaon

Residential rental properties are very much in demand in Gurgaon. In fact, there has been 30 to 35 per cent annual appreciation in rental properties in this region. But, in spite of this rental appreciation, the demand for rental properties has all the more increased. This is due to fact the fact that there is an ever-increasing migrant population to this city. This migrant population belongs to various strata of life such as corporate executives, IT professionals, employees of various business establishments, workforce in the construction industry, etc.

The higher demand for residential rental properties in Gurgaon is also owing to market forces. The growing commercialization and the resultant urbanization necessitated more rental accommodation and there has been a little gap in the supply-demand matrix. This has worked as a catalyst in the growth of rental rates in the region. An estimate as of mid-2009 shows that the rent for a premium 4 BHK apartment in a prime locality would be around Rs.25,000 to Rs.30,000. Even in an ordinary neighborhood, a 4 BHK flat would have rent of around Rs.15,000 to Rs.20,000.

The reason for the high residential rental rates in Gurgaon is the presence of hosts of multinational corporate offices, burgeoning rate of other commercial establishments, academic institutions like schools, colleges, engineering colleges, business schools, etc. BPO and IT sectors are very vibrant in the region. Owing to the proximity to the national capital, Gurgaon with sophisticated infrastructure became a preferred choice of a host of multinational corporations coming to India to set up shop. Along with these corporate offices, a sizeable population, both national and international, came to the place as part of the developmental activities. In order to accommodate the personnel employed with these organizations, the residential rental segment in Gurgaon is running short of the sort of accommodation fitting their bill. Construction majors like DLF, Ansal, Parsvanath, etc. have promoted several residential apartment units in the region. But, in spite of the greater supply of residential units, the demand is more. This aspect is reflected in the rising rental rates in the region.

Residential rental properties can easily be located with the help of
property dealers in Gurgaon. Property dealers, property consultants, construction companies and builders are thriving very well in the region as there is an ever-increasing demand for residential and commercial properties.