In the last two years, especially after demonetization and the introduction of economic reforms like GST, the rental market in Delhi-NCR has gained tremendous momentum. GST and RERA resulted in a major slowdown in the real estate sector, because of which many prospective homebuyers have started to prefer rental accommodation. This is especially true in the big cities and in regions with higher economic activity, such as Delhi-NCR.

Renting a home has become a lot easier and more transparent than ever before, especially with customer-generated portals like RentXZ.com. The processes are transparent, and the renters are much more informed about the choices that they’re making. This has greatly restored customers’ faith in the rental market.As more and more tenants today are professionals-on-the-move, they look for good connectivity, convenienceand affordability in a rental accommodation.

The areas in and around Delhi offer an impressive range of choices when it comes to rental homes. From basic facilities to luxury amenities, tenants with varied budgets can find the ideal accommodation in Delhi-NCR.Right from Gurugram up to Noida and Greater Noida, there are various regions with steady economic activity in Delhi-NCR that are witnessing a healthy demand for rental homes. Here’s a look at some of these areas:

1. Gurugram:Gurugram has emerged as one of the largest commercial hubs in the country, with the headquarters of many big corporate firms and MNCs located here. The area offers excellent employment opportunities, world-class infrastructure, good connectivity across Delhi-NCR, and the best selection of entertainment options. The demand for rentals here is increasing steadily, and those looking for accommodation in Gurugram are spoilt for choice. The areas near Cyber Hub, Cyber City and UdyogVihar witness high occupancy rates, as there are also many offices and business parks here.DLF Phase-2, SushantLok, Sohna Road, and Sectors 21-25 and Sectors 47, 50, 55 & 56 in Gurugram are some of the other in-demand rental localities.

2. Delhi:Delhi offers the widest range of accommodation choices for renters, and there are various rental markets across each end of Delhi that are performing well. When it comes to affordable options, Dwarka tops the list and offers excellent connectivity via metro and road. It is also located close to Gurugram and the airport. MayurVihar in east Delhi is another affordable option that is witnessing a healthy demand for rentals. In the luxury segment, prospective tenants can explore localities in central/south Delhi like JorBagh, Sunder Nagar, Golf Links, VasantKunj and Prithviraj Road. The most popular rental markets in south Delhi are Lajpat Nagar III and IV, Saket, HauzKhas, Malviya Nagar, Chittaranjan Park, VasantVihar, AnandLok and Munirka. In north Delhi, the most popular localities among renters are Model Town, Shalimar Bagh, Rohini, Pitampura and PalamVihar. In west Delhi, Rajouri Garden, Punjabi Bagh, Janakpuri (Block B, C) and Krishna Park are the popular rental markets. In east Delhi, PreetVihar, VivekVihar, Karkardooma and Rajdhani Enclave are the most sought-after by renters. All the aforementioned localities share excellent connectivity with the rest of the city, and one can find rental homes to suit all kinds of budgets.

3. Noida:After Gurugram, Noida is the next most popular residential hub in the outskirts of Delhi. Noida shares excellent connectivity with Delhi and Gurugram and is known for its outstanding infrastructural development. The wide and well-connected roads, the commercial districts and the entertainment hubs make this a popular residential locality among diplomats, expatriates and professionals in the corporate sector. With comparatively lower rentals than Delhi and Gurugram, excellent employment opportunities, and wide-ranging lifestyle and entertainment hubs, Noida is a highly sought-after locality among renters. Sectors 62, 74 and 78 in Noida witness a high rental demand due to the proximity to employment hubs in Noida and Greater Noida. Sectors 137 and 144 are also very popular among renters.

Affordability isn’t the only criterion that is driving the shift from home ownership to rentals. The ease and convenience of living in a rented accommodationis what has made this a popular choice even among professionals in senior management roles in regions like Delhi-NCR. With portals like RentXZ.com, finding a rental home that suits your budget, requirements and preferences is now easier than ever. RentXZ.com is India’s 1st real estate portal to be driven by customer-generated content, where you can check out detailed ratings and reviews of localities as well as specific rental accommodations, to find the perfect home for your needs.