Housing rental increased by 40% in Delhi-NCR due to high demand
Real Estate

Housing rental increased by 40% in Delhi-NCR due to high demand

According to a media source, rents for residences in Delhi-National Capital Region (NCR) have climbed by 25% to 40% over the previous year due to a shortage of supply and increased demand from businesses urging staff to return to work. According to the survey, landlords are seeking to make up for losses by taking advantage of the supply-demand imbalance by raising rental costs for micro-markets in Noida and Gurugram. The inflow of relocating expats has also caused rents for farmhouses and serviced flats in the high-end market to increase.

According to the survey, the monthly rent for a two-bedroom condo in this location increased from Rs 45,000 to Rs 50,000 to Rs 75,000 in 2019. It used Gurugram's Central Park Resort on Sohna Road for instance. According to CMD of Central Park, Amarjit Bakshi, new recruiting practises and the return of regular office hours have increased demand for both new homes and rental properties across all locations. According to property specialists, Sohna Road is among the top three markets in the NCR region where rental value growth is picking up.

People want to prioritise their quality of life and live more comfortably as they return to the workforce and their responsibilities rise, according to Aakash Ohri, Group Executive Director and Chief Business Officer of DLF Ltd. Whether they are renting or buying a property, he explained, this simply implies that they would want to move to a new house or perhaps even a different neighbourhood. With a number of significant commercial and residential assets, Gurugram has been a real estate powerhouse during the past 20 years, drawing millennials and Ultra High Net-Worth Individuals (UHNIs).

According to a media source, rents for residences in Delhi-National Capital Region (NCR) have climbed by 25% to 40% over the previous year due to a shortage of supply and increased demand from businesses urging staff to return to work. According to the survey, landlords are seeking to make up for losses by taking advantage of the supply-demand imbalance by raising rental costs for micro-markets in Noida and Gurugram. The inflow of relocating expats has also caused rents for farmhouses and serviced flats in the high-end market to increase. According to the survey, the monthly rent for a two-bedroom condo in this location increased from Rs 45,000 to Rs 50,000 to Rs 75,000 in 2019. It used Gurugram's Central Park Resort on Sohna Road for instance. According to CMD of Central Park, Amarjit Bakshi, new recruiting practises and the return of regular office hours have increased demand for both new homes and rental properties across all locations. According to property specialists, Sohna Road is among the top three markets in the NCR region where rental value growth is picking up. People want to prioritise their quality of life and live more comfortably as they return to the workforce and their responsibilities rise, according to Aakash Ohri, Group Executive Director and Chief Business Officer of DLF Ltd. Whether they are renting or buying a property, he explained, this simply implies that they would want to move to a new house or perhaps even a different neighbourhood. With a number of significant commercial and residential assets, Gurugram has been a real estate powerhouse during the past 20 years, drawing millennials and Ultra High Net-Worth Individuals (UHNIs).

Next Story
Infrastructure Energy

Adani Green Adds 212.5 MW Solar in Gujarat

Adani Green Energy Ltd. has commissioned a 212.5 MW solar power project at Khavda, Gujarat, through its subsidiary Adani Renewable Energy Fifty Seven Ltd. This addition brings Adani Green's total operational renewable capacity to 13,700 MW, as per a stock exchange filing. Last month, Adani Green became India's first renewable energy company to cross 12,000 MW of operational capacity. The company is also developing the world's largest 30,000 MW renewable energy plant in Khavda, spanning 538 sq km—about five times the size of Paris and nearly as large as Mumbai. Upon completion, it will be th..

Next Story
Infrastructure Energy

ONGC NTPC Green Acquires Ayana for Rs 62.5 Billion

ONGC NTPC Green Pvt Ltd (ONGPL) has completed the Rs 62.5 billion acquisition of Ayana Renewable Power, securing a 100% equity stake. The 50:50 joint venture between NTPC Green Energy Ltd (NGEL) and ONGC Green Ltd finalized the deal. NGEL contributed Rs 31.2 billion toward the acquisition, aligning with its goal to achieve 60 GW of renewable capacity by 2032. Ayana, a key player in India's green energy sector, has a 4,112 MW portfolio, with 2,123 MW operational and 1,989 MW under construction. Its projects are backed by high-credit-rated buyers, including SECI, NTPC, GUVNL, and Indian Railw..

Next Story
Infrastructure Transport

Cabinet Approves Rs 37.1 Billion Patna-Sasaram Corridor

The Union Cabinet has approved the construction of a four-lane access-controlled Patna-Sasaram corridor in Bihar at an estimated cost of Rs 37.1 billion. The 120.1 km project, to be developed under the Hybrid Annuity Mode (HAM), aims to ease congestion and enhance connectivity. Currently, travel between Sasaram, Arrah, and Patna takes 3-4 hours due to heavy traffic on state highways. The new corridor will integrate greenfield and 10.6 km of brownfield upgrades, linking key cities such as Arrah, Grahini, Piro, Bikramganj, Mokar, and Sasaram. The project will connect NH-19, NH-319, NH-922, NH-..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?