High End Residential Flat Rentals in India

Published: September 2, 2011
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NCR

An apartment admeasuring 5,700 sq ft in Gurgaon was leased out at Rs 290,000 per month. The apartment, set in one of the high-end residential projects, has the advantage of being situated at an easy driving distance from commercial centres, secondary business districts and is also near the international airport.

The average rental value for high-end apartments (approx 2,000-4,000 sq ft) ranges at Rs 100,000-200,000 per month in the area. Though there is a very steady demand for rental properties, values have remained stable due to sufficient supply.

MUMBAI

A 3,100-sq-ft apartment at Breach Candy was leased out at a rental value of Rs 625,000. The location is one of Mumbai’s most sought after due to its strategic location. The area is close to the central business district and other office locations like Central Mumbai and Lower Parel, and has easy access to the Bandra-Kurla Complex.

The area also has the social infrastructure, including educational institutions, retail and entertainment options and healthcare. The average value of a comparable property ranges between Rs 450,000 and Rs 800,000 per month. The location has seen an appreciation of approximately 4% in rental values over the previous year.

HYDERABAD

A residential apartment measuring around 1,690 sq ft was sold at around Rs 50,00,000 at the rate of Rs 2,900 per sq ft. This 3-bedroom apartment is located in Padmarao Nagar, Secunderabad. It is part of an under-construction project which is expected to be ready for possession in 12-18 months.

The property is part of a gated community being developed by a prominent regional developer. The gated community has provisions of a landscaped garden, play area, state of the art security systems, power back- up, sports, recreational centres and rainwater harvesting among others.

Source: The Economic Times and Cushman & Wakefield Report


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3 Comments so far

  1. rocky December 12, 2011 1:40 pm

    Noida commercial real estate landscape is booming like never before and the most talked about project is Wave City Center that enjoys the benefits of being located to most of the residential sectors in Noida, the commercial spaces at Wave City Centre are expected to have a high footfall.

  2. Deepti January 5, 2012 11:13 am

    No other commercial place in Noida is in competition with Sector 18 but dynamics of real estate never remain same. A few years ago Noida authority has decided to decrease the pressure on this sector. Now the new addition to the commercial hub is the Sector 32. The sector is witnessing the coming up of mega commercial cum residential project christened as Wave City Centre and a City Centre by Logix group. It is coming up as a true commercial destination in the heart of Noida.

  3. Residential property in Agra October 31, 2012 1:43 pm

    Hi,Mohsin I want to purchase a one flat in NCR region.Since I have been living in NCR region for a long time and doing job as a software engineer,but I have not got any organization which can help me in this field as I have a busy schedule.Therefore I want your help,if you can provide me resudential flat in NCR region.

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