An empty month costs more than a discount. This is obvious stated plainly and routinely ignored in practice, because a lower rent feels like a permanent loss while a vacant month feels like a temporary one.
Run the number
A ₹40,000 flat held out for ₹42,000 needs to fill within one month to break even against simply letting at ₹40,000 immediately. If holding out costs you six weeks, you are behind for the entire year.
Price against what is live, not what let
The three flats that let last quarter are not your comparison set — the four currently listed in your building are. Those are what your prospective tenant is looking at this weekend.
The photograph problem
Most listings underperform on photographs, not price. Shoot in daylight with the lights on and the curtains open, from the corner of each room, and lead with the room that sells the flat. This is worth more than a ₹2,000 price cut.
Respond fast
Enquiry response time predicts letting speed better than almost anything else. A reply within the hour, on a weekday evening, is the single highest-leverage habit an owner has.