I have a flat in a residential society in gurgaon, at a good location and I want to use it as an extra source of income. I am thinking of converting it into a service apartment in order to maximise the returns..but I am not sure about the related laws etc. Can anyone provide some details on rules / challenges involved in using a residential property as a guesthouse or service apartments.
Are property management firms useful in maximising returns in such cases? Where and how can i contact such firms?
Are there any other options by which one can maximise returns in such a case..like contacting a government or corporate co.