Demand of rented flats exceeds supply, say realtors
DNMUM243836 | 5/6/2012 | Author : Deepa Sarna Gawli | WC :409
Delay in possession, reluctance in giving flats to bachelors are prime reasons
The delay in possession of property, reluctance to let-out flats to bachelors and other such factors clubbed together has resulted in shortage of rented homes in the city, say realtors.
The realtors from the city are of the opinion that there are both economical as well social factors behind the shortage in rented houses and this is leading to skyrocketing rates. Issues like delay in possession of properties from developers, constructions brought to halt due to private forest land issue, reluctance to provide flats to bachelors among others are the major reasons behind the unavailability of rented homes.
"One of the core reasons for shortage in demand of rented homes is due to delay in possession of new properties. And t
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he delay happens due to various reasons, and due to that people who have blocked their money in such properties are forced to stay in rented homes. Factors like sand issue due to which again the project was hit and the supply was restricted also lead to the shortage," said Rajesh Gadgil, proprietor of Manisha Properties from Thane.
"The demand by bachelors and families is equal. But societies in the recent times have been reluctant to let-out rooms to bachelors for various reasons, which has again resulted in less supply for this set of people," he added.
Another realtor, Rakesh Kapoor from Thane blamed the high rates. He said, "The supply is short as compared to the demand due to the high property prices. As the prices are high, the buyers are less and therefore the property is lying idle. Also, now there is hardly any difference in the rent of properties on Ghodbunder Road and Pokhran Road or areas nearby to the city. Even at Ghodbunder Road rent rates fluctuate around Rs 10000 for one bedroom-hall-kitchen."
Geeta Shukla, who has been looking for a rented house since past three months, said, "Rented houses do not come below the range of Rs 10,000 to 15,000 for one BHK. For a family with only one earning member, it is really difficult to get settled. I have been living in a rented flat in Vasant Vihar for three years but have to shift now. We are looking for accommodation in 10 different areas in the city. Another concern is that we need a place which is safe for children and is near to their school, otherwise we have to incur transportation costs, which would only add to our already increasing expenditure."
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