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Rentals in cities at an all time high
As global firms and some of their overseas staff flock to India to tap opportunities in its burgeoning economy, premium residential rents in cities like Mumbai and the capital, New Delhi, are going through the roof.
Add a rising number of high-income Indian professionals and a shift to a nuclear family from the traditional extended one, and the number of people looking for good homes is pushing rents to levels seen in the more desirable parts of London and New York.
Industry experts believe that rising property prices and hike in home loan interest, have made property investments for the fixed income salaried class difficult. But the rental prices in the recent years have also rised to astronomical figures.
Even then, be it an expat worker or an Indian professional, the mind-boggling demand for high-end rented homes will continue.
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