The Next Big Thing in Rental Properties in New Delhi

The slowdown in the real estate market has boded well for the rental properties market, and more number of people are looking for rental flats in New Delhi. In addition, due to the advent of short term projects and contract-based jobs, individuals find it sensible to rent a flat in New Delhi, rather than investing money in the property.

Inflation and recession have made an appearance in recent times, and individuals are striving to hold on any type of vulnerable investment. In such a case, they find it a lot more practical to rent a flat in New Delhi. Sensing the growing demand for rental flats in New Delhi, a number of online portals have been helping individuals have the convenience to find a flat, in a virtual manner at first, and later with a physical visit.

What is the Cost of Living in New Delhi for Family and Bachelors?

The rental properties market in New Delhi offers myriads of options for the residents—1 RK, 1 BHK, 2 BHK, 3 BHK, and even villa. If you are a bachelor, you may opt for a flat on sharing basis and your cost of living by considering the food and entertainment costs might be around Rs. 15,000.

On the other hand, if you are renting a flat in New Delhi and looking to move with your family, you have to look for at least a 2 BHK for a decent living standard. Considering the travelling, grocery, hospital, school, and other miscellaneous costs, your cost of living on a monthly basis would be around Rs. 40,000 and even more.

On breaking down the cost of living in New Delhi, you can assume the following:

The cost of renting a flat in New Delhi for a 2 BHK would be around Rs. 30,000. Your travel expenditure would be tantamount to Rs. 3,000. Groceries and eating out may cost you Rs. 5,000, and other Rs. 2,000 for medical and miscellaneous expenses.

In order to cut down on your travel expenditure, it is always better to find a rental flat in New Delhi near the Metro.

What are the Top Benefits for Homeowners in New Delhi?

New Delhi, which was once known for its political establishment, is now getting prominence in terms of job opportunities. Since all the modes of transportation are available in New Delhi—Air, road, and rail, it becomes easy for companies to broaden their reach. In such a case, a number of individuals are seen making a sprawl towards the city. Homeowners, here in New Delhi, are usually the retired people, who want to earn an additional income to sponsor their monthly expenses. Thus, the trend of the scramble of tenants looking for a flat on rent in New Delhi, makes it easy for them to earn some additional bucks.

What are the Top Benefits for Tenants in New Delhi?

As mentioned earlier, the real estate scenario in New Delhi is rather an extravagant one. In such a case, it becomes difficult for tenants to purchase their own property. Having a number of rental flats is offering them the choice to select the one that provides them with the most convenience. Besides this, when their job location changes, they can switch to another rental flat to avoid the commute.