Housing and Property

It is sad that properties do not increase on its own as per the demand. If that would have been the case, there would have been no dearth of properties for any one. In reality, it is not the case.  Property rates are soaring at an unexpected rate and there aren’t enough properties to meet everyone’s need. Delhi is a major metropolis of India and the cost of living in the city has been quite high.  Delhi has listed on 8th position as one of the most expensive cities to live in. Two cities ahead of Delhi on the list are London and Singapore.
Since Delhi is where major international businesses are located, there are quite few expats working and living here. Even those companies prefer to opt for luxury apartments for them than choosing big and expensive flats in the city. South Delhi, being the most posh areas of all, many expats chooses it for living. Even for expats, getting an apartment has not been that easy and that is why a majority of them choose to share flats. It works well for them because they can live with those with similar background and even get to share rents.

Property in Budget

It is quite difficult to procure a property in Delhi, let alone an affordable one. As the residents of any other major city, even the residents of Delhi are looking for affordable housing. It is good to know that there are such low-cost homes available in Delhi NCR. The cost of these flats range somewhere between Rs 15 and Rs 25 lakhs.

Looking at the growing demand for affordable homes, many realty companies are coming up with such projects. Even public sector housing authorities such as DDA and NBCC are also taking up several such projects to provide affordable housing to the residents of Delhi.

To Rent or Buy?

Rented property is the most preferred in Delhi where many people come to work, either as a part of its company location or transfer. A majority of expats in Delhi are in the city for work. Hence, they prefer to rent a property. They don’t have to worry about renting a place because most of the companies who hire expats have their own people to help them with the process. These people are called as relocation agents who help with the moving process.

Those who do not have such a facility can look for realty agents to help with. Many companies actually buy flats which they rent out to their expat employees. There are companied who even pass on lists along with the vacancies available.

Those who are looking for apartments in Delhi without any help can seek the help of internet. Today, realty is a big business, not just for developers but even real estate agents. Thus they all have a web address of their own. So, those who wish to check out properties from a real estate developer can get details on their website and those who wish to take the help of a real estate agent, can meet him on his website. The real estate advertisements can also be checked online of various newspapers. One has to be just clear about what he needs and should make a list of his requirements and needs before approaching someone.

Communicating with real estate agents can be quite a task. Patience and smartness are the tricks here. One has to be really determined and not too stubborn on rates. Willing to negotiate can work here. If you like a property, then remember it will be in your interest to pursue. Do not expect the real estate agent to keep you updated. He might not like waste his call charges. So, be perseverant and enquire with the agent about the property, in case he forgets about you totally. Never depend on one single agent and try to contact as many agents as possible. This will help get you a good look at different properties spread all around the city and different prices too. Make your own decisions and come to your own conclusions let not some eager agent dupe you into making hasty decisions that will make you repent later.  Do fix their fees before going further into any deal with the agents.

In Delhi, the rental contracts lasts about 12 months and that’s a year and if you wish to stay in the same place for another year, you will have to renew the contract. The contract will also stipulate how much deposit you need to pay for the house. Usually, an advance rent of 10 months is paid as a deposit. As an expat, one cheering up news is that domestic helps are usually much cheaper in India than in any other country. That will help you get a cook, or a maid or a driver or in fact, all easily at nominal rates.