Any chance of rental rates in Delhi coming down?

Q: Hi, I am Sushant. Presently I am staying in a PG.. But I am planning to rent a house. I have seen that the rent rates are pretty high in areas that I have enquired. Can someone tell me where I can find rent houses in Delhi at a lesseer rate? Or is there any chance of rates coming down?

Sushant, Mumbai

7th January 2013

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The supply of rental flats have come down but the demand for flats for rent in Delhi region has abruptly increased.. This imbalance has led to severe rise in rental rates. There was around 47% rise in rental rates in Kalkaji, 29% in Paschim Vihar, Mayur Vihar Phase I with 26% hike, Rohini and Patparganj observed 25%. Gurgaon’s DLF Phase V area in NCR has seen 50 percent hike in rental values in the last 2 years because of its vicinity to Gurgaon’s business district .

Gurmeet,

22nd January 2013

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Hey Sushant, the rental rates are continuously rising.. there is no hope they will reduce in near future.. There has been 25-50 percent rise in rentals in Delhi and NCR regions in the last 2 years. It is really hard time for lower-middle class and low income groups as they can neither afford to buy house nor rent house at this sky-high rates..

Richa, Delhi

7th January 2013

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