Renting Instead of Buying a Home? Here’s How To Get It Right

Renting Instead of Buying a Home? Here’s How To Get It Right

Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants

  • Don’t expect all available options to be available online
  • The ‘hidden’ costs of renting a home
  • The elements of a sound rental agreement

The Government’s much-touted aim to deliver Housing for All by 2022 may not have met with spectacular success in terms of on-ground deployment, but it was certainly a very effective electoral promise. Housing is a sensitive subject in India, precisely because so many people don’t have it. Such an electoral promise was bound to draw attention – and hope.

Providing a self-owned home to every Indian household in the promised timeline seems unlikely. Building enough dedicated rental housing and backing it with a sound rental housing policy could have brought this electoral promise closer to its goal. However, there has been little progress on this front beyond the discussion stage, either.

While a large number of Indians do hope to live in self-owned homes someday, renting homes is still the default option for many. For some, rental housing is seen as a temporary measure until the dream of homeownership is fulfilled.

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