{"id":19136,"date":"2013-06-21T10:10:31","date_gmt":"2013-06-21T10:10:31","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=19136"},"modified":"2020-06-15T04:03:30","modified_gmt":"2020-06-14T22:33:30","slug":"whats-taking-the-rentals-down-in-mumbai-and-delhi","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/whats-taking-the-rentals-down-in-mumbai-and-delhi\/","title":{"rendered":"What’s taking the Rentals Down in Mumbai and Delhi?"},"content":{"rendered":"

\"nariman-point\"Mumbai\/Delhi\/Bangalore<\/strong>: A supermoon is a coincidence of full moon appearing on the day when the earth is nearest to the moon. It happens once a year. The reason why supermoon is mentioned in this article is because it tells us that it’s a very rare phenomenon. Something rare is witnessed in the biggest metros of India too. Cities like Delhi, Mumbai and Bangalore are undergoing through severe rental crash. This is almost unimaginable in cities where the population is gargantuan. But it happened for some reason. Areas in Delhi like Vasant Vihar, Chanakyapuri and Shanti Niketan, while in Mumbai, locations like Cuffe Parade fall and Malabar Hill are experiencing major depreciation in rental rates. The rental amount of residential units in posh localities in these cities has been dropped by about 25 percent. This is something really serious. Rare like supermoon.Few of the buildings at Nariman Point and Maker Towers at Cuffe Parade that is famous for rent ranging from Rs 5.5-12 lakh have been plummeted by almost 30 percent. Similar is the situation with Delhi in major locations where it’s down by almost 25 percent. Even Bangalore is not spared with this blow. Commercial buildings at Yemlur and Cunningham Road too have touched a 35 percent downfall mark.It’s tough to understand why this situation arises in the country. Pointing fingers to the slowdown will not make any difference but it is well known to us that how our economy has fallen from 9.6 percent to 5 percent GDP growth. A survey from the Planning Commission also revealed how we are losing jobs and sheen in growth. But can this be blamed for the point we are discussing here?Rentals usually holds about 15-20 percent of cost to company. Every company and their employees look for cheaper places. This rental slowdown might be profitable bet for them but not for the property market. Even stability is much better then falling. In Bangalore, it’s 40 percent lower rent for single homes and 20 percent for gated communities as compared to previous rates. Even enquiries for rental accommodation too had halved.Well, there is one good reason to debate on the title of this article. It might be the high end commercial complexes that has been erected in Lower Parel or Bandra Kurla Complex which has stolen all the lusture of older areas like Cuffe Parade, this sudden shower of newer properties is possible one such reason for the downfall in rental amount.Other reasons might be that the property is overvalued. There are cases witnessed in the cities where properties costing around Rs 80,000 per sq ft at one time were sold at Rs 50,000. This is a sure signal that the property was overvalued and hence the price was fallen to its original. Even companies that have been experiencing trouble are cutting employee expenses and rentals and most of the times they look for cheaper ones. If they succeed in finding one such property then they will leave the older properties that are consuming high rent. In this way the older one remains empties and a necessity to reduce the rent becomes a compulsionIt is also possible that the citizens have denied overpaying the rent, causing the correction in rentals. You can always look it from the different side; it can be a correction of prices. \u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a>\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Mumbai\/Delhi\/Bangalore: A supermoon is a coincidence of full moon appearing on the day when the earth is nearest to the moon. It happens once a year. The reason why supermoon is mentioned in this article is because it tells us that it’s a very rare phenomenon. Something rare is witnessed in the biggest metros of […]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19136","post","type-post","status-publish","format-standard","hentry","category-prop-trendz"],"blocksy_meta":[],"yoast_head":"\nWhat's taking the Rentals Down in Mumbai and Delhi? -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/whats-taking-the-rentals-down-in-mumbai-and-delhi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What's taking the Rentals Down in Mumbai and Delhi? -\" \/>\n<meta property=\"og:description\" content=\"Mumbai\/Delhi\/Bangalore: A supermoon is a coincidence of full moon appearing on the day when the earth is nearest to the moon. 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