Delhi and NCR shows hike in flat rentals

By Pallavii Pitale

As per a recent report, the National Capital Region and rest of Delhi has shown hike in the rentals for  flats. Compared to the second quarter of the last year, it is on an average 12% higher in the second quarter of this year.  

Most areas in South Delhi like, Saket, South Extension, Safdarjung Rd. and Malviya Nagar showed increase in rentals upto 31%, 24%, 22%, and 21% respectively.

The western areas of Delhi like Janakpuri and Vikaspuri has showed hike by 8% and 13% respectively. The other Eastern and Western parts of Delhi like Mayur Vihar, Patparganj and Vasundhara Enclave has witnessed about 12% hike in the rentals.

Areas like Connaught Place has seen only 8% hike whereas the areas of Rohini and Pithampura has seen the maximum hike in the flat rentals that is 37% and 35% respectively. 

Amongst the areas of Delhi, the areas of Dwarka and Vasant Kunj have remained the most affordable rental destinations for the middle income group. since there is no much supply of new flats for the increasing demand for flats on rental in the region, the rental values are expected to escalate in the near future.