Delhi, capital of India is home to about 88 embassies and 24 high commissions and renting of property by diplomats in Delhi has always formed a major percentage of real estate market in India. Renting of property by diplomats not just means giving out floors or homes on rent. The word 'foreigner' has gained many connotations. It also refers to the technical employees of MNC's, people of other countries posted to India, people interested in business ventures and wanting to take advantage of the economic boom and those who come for a short span of time to complete a project.
These people are mostly interested in staying in a rented home than purchasing as they don't come with an intention of staying here forever. Their choices matter according to their need and the duration of stay. If they come for short span of time they opt for a fully furnished house or even a floor. They look foe westernized home and facilities. Other consideration that foreigners have while renting property includes some important points. Firstly, budget is of foremost importance to those who come for a longer stay. They are those who traveled a lot and prefer certain areas only according to their standard of living. Secondly the place chosen by diplomats or foreigners for staying usually should be in the close proximity of their workplace. Thirdly, they like renting independent houses and if the choose floors they want separate driveways. Fourthly, if the rent an apartment it is usually the ground floor. The other option is a penthouse or a terrace flat. The reason behind ground floor is that they have lift phobia and afraid of power cuts in India. Also penthouses signify their high status. Fifthly, if they are coming down with small nuclear families then they prefer homes with large living room and a separate drawing room. Earlier the demand for extra amenities like piped gas connection Wi-fi broadband etc was nil but now things have changed. These are in high demands and attract a lot of weightage but unfortunately these facilities are still not widely available. Then these diplomats also consider the neighborhood environment because of security reasons. If the want to rent a commercial space then they usually go for properties along the main roads or sector roads inside colonies.
The most interesting aspect is that once they see a new attractive property, they shift to it soon as they consider rented property as a hotel than as a home.
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