Demand for rental housing under 10,000/- drops by 27% in Delhi NCR
The demand for rental housing under 10,000/- per month segment has dropped in Delhi/NCR region over the last 1 year. As compared to January-April 2010, the demand for houses in this price bracket has dropped by a significant 27% in January-April 2011. The main reason that can be attributed to this trend is the increasing property prices and inflation that are forcing the land lords to increase the rentals to maintain their RoI. Another significant reason is the lack of availability of houses in this price segment.
This drop is demand is prevalent across the Delhi & NCR region. The demand drop was the maximum in Delhi North region, which traditionally was the hub of low cost rental accommodation. There continues to be good demand for such housing in Greater Noida region which has abundance availability of options in this category.