Delhi, April 22: You’ll be glad to know you’re in the right place if you’re ready to rent an apartment in Delhi, a leading city in the country where you can find affordable rents in almost any style, with prices ranging from under Rs 500 to Rs 1,000 a month.
The Times Of India has learnt that a large number of landlords are taking advantage of the shortage to rent out their properties in residential complexes and duplexes.
In an interview with The Times, a representative of one such company said that they are being flooded with offers and they are in a hurry to rent them out.
The company said they are looking to start renting out apartments in residential complex in the next two weeks, adding that the rents have risen by 50 per cent in the last few months.
The spokesperson said that while a large portion of the apartments are being rented by professionals, the majority of rental properties are being occupied by renters, and that there are many middle class people who can rent apartments in the same complex.
The spokesman said that the company rents apartments from its corporate clients and the company will continue to do so.
The representative added that the average rent for a rental apartment in the city is Rs 1.75 lakh a month, and the average amount of rent that a tenant pays will go up by 50 percent from next year.
The property that has attracted the most attention is the apartment in Jogeshwari Road, a residential complex located at the junction of the Poonch and Jogi roads, which houses about 200 families.
The apartment is available for rent for Rs 1 lakh a week and has two apartments, one with a kitchen and another with a bathroom.
Apartments in this complex are being advertised for a monthly rent of Rs 2.5 lakh.
“We have been offering apartments in this property for three years now.
We had no complaints, no complaints,” the representative said.
Another property that is attracting the attention of many landlords is the property at Rajarapuram in New Delhi’s eastern suburbs.
The house in this locality is in the market for Rs 2 crore and is in need of a facelift, with some apartments already being renovated.
The developer, L.R. Doshi Group, is looking to rent the property to its clients for the next few months, with an average monthly rent coming in at Rs 1 crore.
The owner of the property, Anil Doshi, said that there is a shortage of houses in the area and he has been renting out units in the complex since January.
“Most of the buildings have been converted to apartments.
We are now in a position to rent apartments from the residential complex.
We have been working on this for about two months,” Doshi said.
The firm has also rented out apartments at other residential complexes across Delhi.
In another complex, the owner of a flat at the corner of Rajarupuram Road and Joravalli Road, Rajkumar Ram, said there is no shortage of apartments in his neighbourhood and he is currently renovating his building to accommodate the demand.
“I rented out flats in the residential complexes of Poonich, Pahari, Jorivalli and Rajkam.
The demand has been there for a long time,” he said.
The spokesperson from L. R. Dossa Group added that their company is in talks with the government on the issue.
“The Government is considering the issue and will consider whether to allow the construction of residential complexes on commercial land,” the spokesperson said.
A spokesperson from New Delhi City Corporation said that its officials were in touch with the developer of the properties to see whether there is any possibility of the development of residential apartments in their area.
“This is a problem that the developer has to take up with the City Corporation.
We would like to have these apartments in our area but the Government will take a look at the situation after hearing our objections,” the City Council spokesperson said, adding the city was in touch as well with the developers of the residential properties.