Goel Ganga Developments, a real estate developer based in Pune, recently entered the rental market to provide crucial support to those looking for rental properties in Pune. Their new venture, called Goel Ganga Rent Easy, is a comprehensive platform that focuses on both buying and selling real estate, in addition to rentals.
The rental market in India is witnessing significant growth, especially in large cities, where about 35 percent of the population prefers to rent their home. Cities like Pune, with a significant migrant worker, are seeing an even greater demand for rental housing.
Goel Ganga's vision for Rent Easy is to provide its users with a hassle-free experience by efficiently managing every aspect of their search, identification and closure process. The platform offers professional consulting services, where buyer convenience is a top priority and a diverse selection of properties is offered under one roof. To improve decision-making, the platform also provides valuable analytics and data-backed insights.
In countries like the UAE, Germany and Singapore, rental housing makes up about 50 percent of total demand, while in the U.S. and UK, it makes up more than 40 percent of demand. In contrast, the rental market in India remains relatively smaller, despite the untapped potential. Challenges such as limited government regulation, lower rental income, and a disorganized industry have hampered growth. Moreover, the absence of major players in space has been another factor.