Ultra luxe NCR apartments a rage with expats, corporate travellers
May 12, 2014
Source : The Times of India


DELHI: If you have recently arrived in Gurgaon, Noida or Delhi for work, and don’t like the idea of putting up at a hotel, you need not live out of a suitcase. An increasing number of business travellers coming down to this neck of the woods for a few days, weeks, months or years are opting for a more homely experience. Thanks to a whole new crop of plush apartments in NCR that are being converted into beautiful homes, visitors are now choosing to opt for full-service apartments that are being provided by corporatized real estate agents.

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The rents range from Rs 1 lakh-5 lakh a month, but short- and long-term users do not seem to mind shelling out that kind of cash in return for a hassle-free stay, more so when the company is picking up the tab. The service apartment trend in NCR is showing an upward swing, especially for foreigners who are frequently posted in Gurgaon or Noida to work on projects.

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There are specialized real estate agencies that offer professionally serviced apartments and organize the stay according to the tenure and budget of the individual. According to agents dealing in service apartments, when full families relocate, largely from European countries, the whole process takes about two to three months, but for professionals coming down from Japan, China and Korea, it is a relatively hassle-free move because they travel light and prefer to check into service apartments for as long as they need to stay.

According to property agents, the hub of service apartments in Gurgaon are the properties on Golf Course road like the Aralias or Magnolias. In Delhi, it is Jorbagh and Golf Links and in Noida, Sector 44. “Depending on the number of rooms and amenities provided, the rents typically range from Rs 1 lakh for a one BHK to Rs 3.5-5 lakh for a three or four BHK,” said Jaideep Ahuja, MD, Ahuja Real Estate.

Ahuja says their company either buys or leases property with permission to sublet and then converts them into serviced apartments. “Cable TV, wireless internet, gyms, and other recreational facilities are available at these apartments,” he adds. “The apartments are supplied with all amenities; are fully furnished, highly secure and have functional kitchens. In certain apartments, housekeeping and cooked meals are also provided. Some also offer doctor-on-call service,” said Brij Kumar of Freehold India.

Apart from corporate travellers, services apartments are also preferred by medical tourists with a number of such properties located close to major hospitals. “For medical tourists, some owners have converted apartments into separate bedroom units, rented out on daily basis to families who have come here to get someone treated. The charges usually start at about Rs 3,000-5,000 per day,” Brij Kumar added.

Despite a hefty price tag, property experts feel that privacy and a home-like experience is what most professionals prefer these days. And if one goes by the collective tariff with taxes, paying Rs 3 lakh a month as rent can ultimately work out to be cheaper than booking a hotel suite for a month.







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