Residential Rentals in Gurgaon Stabilize

By: George Gonigal

Residential rentals in Gurgaon have stabilized for the past one year. And this has put the tenant side, who had been bearing the brunt of residential rentals rising incessantly for the past several years, in a pretty comfortable position.

According to the professionals from real estate sector, Gurgaon property markets are under way of receiving a whole lot of mega-size residential projects at different corners 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, and a situation of over-supply cannot be ruled out, in pockets like Sector 55, 56 and Sohna Road.

From another point of view, the same has visibly cast an impact on residential rentals as more and more options are available to the prospective tenants and the property owners have to be on their toes to lease out a residential property or even to retain a good tenant.

Residential Rentals

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.

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 given the present market picture, there is hardly any room for a substantial rise in the segment.

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

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