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The Plaguing Issues For Real Estate Flats On Rent In India

In India, the demand for a rent house is quiet high, thanks to its ever-increasing population. The demand mainly comes from lower and middle-class segments of society; they being unable to buy a house of their own, have to live in rental properties. The rental market in the country is going well, but there are a few areas of concern that need to be worked upon, as far as flats for rent are concerned. We are going to talk about these issues one by one.

1. Inordinate Rental Rates: In India, prices of properties see a good appreciation every year, and so, the rental rates too soar. At present, they are nearly skyrocketing. In such cases, it becomes difficult for middle-class tenants to pay heavy rentals every month. The prices have increased so much so that hiring a single BHK flat for rent in a city like Delhi or Mumbai can cost you too much.

2. Dominance by Owners and Landlords: The owners of property, in order to make more money, charge too high for their rental properties. Their step up the rates every year and in the lack of any other options available, tenants end up paying more money. Many a times, they levy extra charges, giving the price appreciation of flats on rent as the excuse.

3. Irregularities Playing Havoc: Rental market in India is highly irregular and unstructured. In lack of any concrete laws, landlords and brokers try to make a fool out of their tenants. They dupe their clients by producing illegal property agreements and making them sign it. The use of fraudulent means to hire tenants for unauthorized or illegal properties is very common. In the absence of knowledge of their legal rights, tenants who have hired a flat on rent do not even report the cases to authorities.

4. Below Par Living Standard: There are flats for rent that do not pass even the norms of safety and security. Many of them are only shanties or small rooms, without any proper ventilation or toiletries. As they are poorly built, they do not pass the safety tests. Open wirings, congested spaces, and improper civic amenities are some of the issues of concern.

5. Disproportionate Demand-Supply Ratio: Demand for rental apartments is very high in our country. But the supply, being low, does not match up with that. This has resulted in an imbalance in demand-supply ratio. This is further aggravated by the development of illegal encroachments in the cities. Lower class tenants even agree to live in under-construction sites.

These issues need to be worked upon by authorities and tenants themselves. Unless that is done, the market shall continue to suffer in one way or the other.
Buy, sell or put on lease the properties, both residential and commercial, over leading real estate portal, Makaan. Be at the disposal of lacs of properties like flats, condos, villas, plus, shops, offices, and studios. Properties from eminent developers and builders from all across the country are available for searching.
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  Published Date - September 20 2013
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  Mr. Vinay Kumar is a leading online property portal to solve the property buyer\'s requirements in real estate segment. The site offers a galore of information regarding the real estate property such as flats for rent and houses to buy at different locations in India.
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