The modern era is the era of smart earning. People work hard through jobs or business in order to earn money. After earning decent amount of money, a person invests in many places to make sure that the wealth multiplies and one gets richer and has a better future. Investments can be of many of many types. Long term and short term are types of investment. A long-term investment is one in which a person invests in the instrument and then gets benefit after a long period. Property, bonds, government bonds, fixed deposits, etc. are examples of long-term investments. Short-term investments are more of a liquid kind and need daily attention. Commodities, metals, shares, currencies, etc. are examples of long-term investments. If a person invests for a brighter future, than property is the best option. People buy property and then give it on a rental or lease basis. This creates a win-win situation as the tenant gets a place to stay and the owner has a regular and stable income. When seeking a house for rent, one would notice that places like Faridabad and Noida have the lowest rent. People put house for rent in Faridabad and the rent amount is usually reasonable and cheaper than other cities. This is because of the following reasons:-
- Bright prospects: – both the cities are in the developing region, which is known as the National Capital Region or the NCR. As the name suggests, it is near Delhi. It is developing in order to ease out the pressure on the capital and give a higher prospect of growth and development. The growth and development here is very good and it reflects modern architecture and planning.
- Newly found – the cities are in a nascent stage and are very newly found. People are not yet aware of the high potential and the growth the cities would get in future. It is getting popular gradually and people are getting to know this region. Moreover, people are usually reluctant to shift in an unknown place and they would rather prefer known and already developed cities like Mumbai, Delhi, Kolkata, Chennai, Bangalore, etc. This puts less pressure on the city and there are less people. There is not much demand for house for rent in Faridabad as there are less people and they may refuse to move if the rent is high.
- Less famous and known: – the cities are not so popular although they have a great economy and are very well planned and have a great developing scope. There are many famous companies and educational institutes in both of the cities, which attract people. However, it has not become very famous and it is still in the growth stage as far as awareness is concerned. Less awareness leads to less people coming in which in turn affects the demand for rent.
- Less population: – the cities can be said as an expansion of the city of Delhi. It is nearby to Delhi and people have been shifting here and developing the city. Both the cities have population around 1-1.5 lakhs that tells the reason as to why the rent is low.
Thus, the above are the reasons as to why the rent charges in Faridabad and Noida are low and why people charge less for the same thing that is costly in other cities. Therefore, plan your future wisely and explore hidden gems in this diverse country to get the best options at the best prices!