If you are about to move to New Delhi, here are some tips on the local rental market and on the different neighborhoods.
Stretching over some 1,484 km², India's capital city New Delhi is the country's second major city after Mumbai. Being part of Delhi's metropolis with a growing population of more than 18,248,290 inhabitants in early 2015. New Delhi, for its part, hosts some 300,000 inhabitants. Thanks to its modern and urban looks, New Delhi has become a choice destination for many expatriates and tourists as well. The city provides not only professional opportunities but also a range of accommodation options that will provide you with a vibrant and pleasant lifestyle.
Before starting your housing hunt, take the time to inquire on the different types of accommodations that are available in the city. Make sure to compare rent prices so as to determine which one will best suit your needs and your budget. Moreover, make sure that the housing unit is not very far from basic amenities, your place of work and your children's school.
New Delhi is, above all, India's administrative center, hosting the government offices, the Supreme court, as well as many government organizations and foreign embassies. You will also find several financial and shopping malls, among which you have the famous Connaught Place. The city includes many residential neighborhoods, some of which are very popular with expatriates, namely Jorbagh, Grand Avenues and Golf Links. Chanakyapuri, Defense Colony and Malcha Marg, for their part, are found in New Delhi's outskirts.
In the East, Sundar Nagar, New Friends, Friends Colonies, Nizammudin and Maharani Bagh are also quite popular neighborhoods. In the West, West End, Shanti Niketan, Anand Niketant, Vasant Vihar, Anand Lok, Gulmohar Park and Vasant Kunj, are known to be posh neighborhoods. Further, Greater Kailash, which is both a residential and a commercial neighborhood, Green Park, South Extension and Panchsheel Park are mainly expatriate neighborhoods.
Good to know:
If you are moving there with children, Jorbagh is ideal for its proximity to international schools, embassies and other amenities. In Grand Avenues, Aurangzeb, Lodhi and Prithviraj, rent prices are quite high.
Types of accommodation
New Delhi's rental market is quite limited compared to that of other cities. In general, you are more likely to find apartments and houses, but you are less likely to find studios. Most apartments are rather large and spacious, although they look quite old. Some apartments have a small garden while other have a balcony or veranda. However, do not expect a faultless housing unit on your arrival, particularly in terms of toilets, bathroom and kitchen.
In some neighborhoods, especially those which are further from the city center, you will find independent houses and villas having small yard or garden. Note that both furnished and unfurnished housing units are available in New Delhi.
Rent prices in New Delhi, like in most cities, vary from one neighborhood to another and according to the type of accommodation. Therefore, to rent a single-bedroom apartment, you will need an average of INR 15,500 per month in the city-center and an average of INR 8,800 per month in the outskirts. For a three-bedroom apartment, you will need an average of INR 41,800 per month (equal to some 1,800 euros) in the city-center and around INR 21,900 per month (equal to some 1,500 euros) in the outskirts.
As regards villas, rent prices start as from 5,000 euros per month in neighborhoods that are closer to the city-center and 4,000 euros per month elsewhere.
During your housing search, you can view general and specialized real estate websites, as well as social networks and other virtual platforms. You can also view classified ads in local newspapers. Registering with a real estate agency will probably help you find accommodation as per your criteria more rapidly. However, they will charge a commission which is usually equal to a month's rent. Finally, networking and word-of-mouth may help if you have friends and contacts on the spot.
Good to know:
Your housing hunt in New Delhi could take at least two to three weeks. You are thus advised to be very patient. You will also have to provide a security deposit which is generally equal to two to three months rent.
Note that the lease document is generally valid for two years, but it can be extended following negotiation with the owner if you wish to stay longer.