Gurgaon has emerged as one of the fast developing centres for some of the major corporate houses and multinational companies (MNCs) in the last two-three years. In addition fuelling the urgent demand for commercial spaces for official purposes, the large flowing of corporate executives and expatriates into the city has opened the new door for rental houses. These residential properties for rentals are mostly targeted for high-end corporatists and consumers who choose the independent houses either on corporate leases or in keeping pace to their living status.
The luxury home section is another high demand section for rental homes in Gurgaon that include villas, condominiums and penthouses. These appealing independent houses come in with various facilities, including Italian marble floors, Jacuzzis, shower cubicles, personal elevators, gyms, car-parking areas, saunas and swimming pools as well. Additionally, the rental houses contain the special atmosphere to give the inmates the filling of five-star luxury.
Gurgaon has also emerged as a hub for information technology (IT) and business process outsourcing (BPO) activities and therefore, most of the big corporate houses of India and abroad have established or are in the process of establishing their branch offices and main offices. Some of these organizations feel reluctant to own property and rather take interest in renting one for their commercial purposes.
The requirement of office space is growing very fast for commercial purposes. The sudden rise in the arrival of corporate executives from every part of the country to work in these organizations has made the availability of houses for rent necessary. Most of these executives do not feel interested in buying residential houses for the reason that their stay in the city is only temporary. In addition to it, there are professionals and expatriates who often pay a visit to the city for various commercial and business purposes and thus requirement for rental houses is quite obvious.
The demand for rental properties in Gurgaon is in high demand nowadays. These properties are available in various specifications, such as condominiums, independent houses, penthouses, villas et cetera. And demand for these properties always comes from companies, expatriates and high net-assets individuals who continue to drive the rental market for independent houses in prime areas of Gurgaon. There is still limited supply of good housing and thus landlords are tending to attract tenants who pay high rent. There are reports which suggest that Gurgaon witnessed an appreciation of more than 30 per cent in rental value of independent houses. Another main reason for the hike in the capital and rental value is the soon-to-be-operated Metro rail in the city.
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