Real Estate Rules Over!
With the overall economy doing well, highly disposable incomes, flexible interest rates on home loans and the entry of foreign investors into the market, there has been a substantial increase in the awareness amongst young investors, who are ready to reap the benefits of real investment.
Everyday the demand for residential, commercial and retail space is going up like never before. Most Indian metros like Delhi-NCR, Bangalore, Kolkata and Chennai are currently witnessing frenzied development.
The residential real estate news looks extremely promising. Despite the rise in real estate prices and rise in interest rates, buyers are still keen on buying property. The residential real estate in Mumbai, and the Delhi residential real estate prices are sky rocketing, but it has not hampered the end user from buying property, thanks to the higher disposable incomes and affordability. In 1995, it required about 22 times a borrower’s annual income to purchase a house, while in 2006, the ratio dropped to 4.9 times.
Financing residential real estate for investment has become extremely convenient and large options are available. Due to this the residential sector will see tremendous growth.
The growth of real investment is directly linked with the growth of the IT/ITES industry. According to an estimate, for every one thousand square feet office space, 13 new jobs are created. Around 50% of the new employees in Delhi are from outside the city. That means around 5 out of the 13 new employees that get employment for every 1000 sq ft leasing of office space would look for residential accommodation in Delhi. This is the case in many metros. This means that the residential property for rent in India also looks upbeat.
The residential rental property business is becoming large as a huge population is migrating to different cities as the employment is increasing in various sectors like Banking and Financial services, Construction, Communication and Transport, Energy, IT and ITES, Mining, Manufacturing, Retail and other services.
To look for a residential property for rent anywhere in India, there are many places you can look for. Start with the local newspaper, or a newsletter, or through a real estate agent or real estate agencies that have a list of residential properties on rent for the particular city one is looking for. One can even try online search for residential property for rent as there are various sites that have a comprehensive list of residential properties on rent in India.
Bikash kumar is the contributing author to the http://www.indianrealtynews.com for distinct articles and news.Indian Realty news provides news on commercial and residential properties of various cities like Delhi, Gurgaon, Mumbai, Chandigarh and Bangalore etc.