Why is the Demand for Houses on Rent Increasing in India?

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With the increasing economy of our country and increase in the basic lifestyle of Indians, people are getting more and more eager to buy houses in major Metro cities and other very developed cities. This trend of buying houses is among a certain established and financially sound segment of people while there are so many others who believe in either looking for a house for rent or don’t have a choice otherwise at that point in time. There are many people who do not wish to take the liability of buying a house and drain their finances which may be less and they may be living on the bank interest on the money they have. In this mosaic society there is a huge difference between the earning classes and that reflects on their affordability in terms of buying a house or renting a house. Also, the budding young generation like the college kids, professional people from various parts of India often opt for a house for rent since it is less liability and unless they are absolutely sure that they want to settle in that city. Having said that, if we take a look at cities like Mumbai, Pune, Gurgaon, Pune, Delhi, Kolkata, Jaipur, various others, we find that the demand of a House for Rent is massive!

Current Scene in Mumbai Markets

Take a look at Mumbai, the buzzing city, the Las Vegas of India or should we say India’s economic capital. The BSE (Bombay stock exchange) is no less when compared to the high adrenaline Wall Street which is a 0.7-mile-long street running eight blocks, roughly northwest to southeast, from Broadway to South Street on the East River in Lower Manhattan in the financial district of New York City. You also have the Posh Bandra West where Shahrukh Khan has his lavish villa called Mannat and then you have Amitabh Bachchan 3 lavish villas called Jalsa, Pratiksha & Janak in Juhu. Well everyone’s crazy about these superstars in Mumbai and they sure are treated like Gods, the ultimate divine idols of the Indian masses. Spotting a celebrity or Superstar in Mumbai is like finding a diamond and thus Mumbai has a divine class in itself. Well, renting a house in Mumbai is not a brave idea really unless you have good finance or you are planning to all by yourself. Well in an ordinary locality in Mumbai the per month rent can start from 50k and go well up to 1 lac. Hence majority of professionals in Mumbai follow the western tradition by sharing flats, either known sources, introduced by common friends or may be unknown sources but whatever it is everyone dreams of making it Big in the money world, a city where people rise to fame, a city where hopes are built, a city which never sleeps and a city that can change the destiny of an individual.

Areas with High Rental Demands                     

Some other major cities with great demands for house for rent are Pune, Bangalore, Jaipur, Gurgaon, Noida, Delhi, Hyderabad, Kolkata, Chennai, etc. Often families, professionals, students are seen looking out for accommodations, which continue to be of great demand as the Realty markets of India keep stepping up each year.

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