Gurgaon has fast developed into a hub for some of the major corporate houses and MNCs in the last couple of years. Besides propelling the demand for commercial office spaces, the large influx of corporate executives and expatriates into the city has opened the space for rental homes. Most of these residential rental properties targeted are for high-end consumers and corporates who opt for the independent houses either on corporate leases or in keeping pace to their living status.
Rental property in Gurgaon is very much in demand these days in various specifications such as independent houses, villas, penthouses, condominiums, etc. And demand from expatriates, companies and high networth individuals continue to drive the independent houses rentals market in prime areas of Gurgaon. Besides, with limited supply of good housing, landlords manage to attract high paying tenants. Reports say that Gurgaon witnessed an appreciation of more than 30 per cent in rental value of independent houses. Another important reason for the hike in the capital and rental value in Gurgaon is the news that the Metro will soon reach this city.
Statistics show that indicative rental rates of independent houses in Gurgaon at the range of US$13,600 - 27,000 per annum, though vacancy rates remain moderate. However, the scenario of high demand and average supply of independent bungalows is sustained. There have also been a few instances where old independent bungalows were renovated to meet the demand of the up-market and contemporary demands of the consumers. Even though expatriate enquiries are expected to increase with economic growth, industry experts believe that rentals will remain stable with anticipated supply and demand.
Another, high demand segment of rental homes in Gurgaon is the luxury home segment. These include penthouses, condominiums and villas. These high-end independent houses come in with features like Italian marble floors, shower cubicles, Jacuzzis, a gym, personal elevators, car-parking facilities and saunas besides swimming pools. Besides they have the ambience to give the inmates the feel of five-star luxury. Besides, penthouses provide top of the line facilities like there are facilities like exclusive clubs and pools. Some of the penthouses in Gurgaon have added up to its luxury features by offering eco-friendly water management and waste management.
Similarly, demands have been seen in for villas and condominiums. These have lately been of much fascination to the expats and corporates who seek a better lifestyle and are the therefore the favorites of the rich and the famous.
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