Serviced Apartments: Demand
The main client base is the corporate sector. The demand is primarily driven by executives of multinational companies (MNCs) and expatriates who come to India on deputation for periods ranging from weeks to months. There is a huge demand for high-end serviced apartments in the National Capital Region (NCR), especially Gurgaon and South Delhi, due to the presence of a large number of MNCs and Corporate houses.
Globalisation is resulting in an increasing number of expatriates coming to India for work. As the duration of their stay is assignment-based, it makes sense to take a serviced apartment on rent rather than staying in a hotel.