- A Gurgaon resident highlighted rising rents of Rs 50,000 to Rs 60,000 for 3BHKs as affordable
- Apartments on Golf Course Extension Road now commonly rent for over Rs 50,000 a month
- Annual rent of Rs 6 lakh excludes maintenance, utilities, pushing yearly housing costs above Rs 7 lakh
A Gurgaon resident has triggered a debate online after highlighting the rising cost of renting a home in the city, questioning why monthly rents of Rs 50,000 to Rs 60,000 are increasingly being described as "affordable" for a three-bedroom apartment. The discussion began with a Reddit post from a resident who said he had been searching for a 3BHK for his family of three but was repeatedly told by property brokers to increase his budget. According to him, apartments measuring around 1,700 sq. ft. on Golf Course Extension Road are now commonly priced above Rs 50,000 a month, while rents in several central Gurgaon neighbourhoods have climbed beyond Rs 60,000.
The resident argued that these seemingly incremental increases quickly add up. "But what people don't realise is that a Rs 5,000 increase in monthly rent means another Rs 60,000 every year. And somehow, every apartment you see is just "another Rs 5,000," he wrote.
He also pointed out that a monthly rent of Rs 50,000 amounts to Rs 6 lakh a year before factoring in maintenance charges, electricity bills and other household expenses. Once these costs are included, annual housing expenses can easily cross Rs 7 lakh. In his view, salary growth has not kept pace with rental inflation, making such housing costs increasingly difficult for middle-class families to manage.
See the post here:
When did ₹50k become the new "affordable" rent in Gurgaon?
by u/skykash0 in gurgaon
The post questioned whether tenants are genuinely willing to pay these rates or whether landlords and brokers have simply normalised ever-higher rents by encouraging prospective tenants to stretch their budgets.
The discussion struck a chord with many Reddit users, who shared similar experiences of struggling to find reasonably priced homes in Gurgaon. Several said rental costs in the city are beginning to rival home loan EMIs, while others noted that apartments priced below Rs 50,000 are becoming harder to find in established neighbourhoods.
One user wrote, "Yep, it's too expensive city, very difficult to manage and thrive."
Another commented, "Rentals are driven by demand and supply and also the market value of the property. Typically, rental yield for an owner is 2.5% only. Since the property market booked post Covid, the property rates went up and so did rentals."
A third said, "Gurugram and its fancy rates of flats labelling as "affordable". Since the populations is growing and it's getting urbanised, this would be a common issue to be faced."
