Rental houses have played a huge role in recent years and now became a vital component of the Indian Housing Market. The reason is simple, the demand for working professionals are increasing substantially in metropolitan cities, resulting in a lot of job opportunities. Eventually, a lot of people are moving out and shifting to a place nearby to their jobs or even colleges.Rental property seems to be the only option for most people who have been newly migrated into a new city for employment or are just at the outset of their career.
The Economic Survey 2016-17 describes India on the move. Migration has almost doubled, to an annual flow of nine million a year for 2011-16, from 5.5-6 million a year between 2001-11.The state and private authorities must note that growth in the rental housing sector is very essential and it’s a vital part of overall urban growth and development.The graph below clearly shows the major increase in rental homes in India:
Many startups have taken the initiative to take the rental experience to another level. No wonder we have seen a huge growth in rental properties the last couple of years and will continue to grow in future as well.