From a big house to a rental dilemma

Gurgaon's rental market feels totally out of control these days. Kids moved out, so we're selling our big house, thinking of renting a compact 2BHK. Our priority is a good society near a hospital, like in Sector 70A. But yaar, rents have shot up 30-40% in two years, especially on Golf Course Ext. Road. Is this justified? Matlab, for a decent 2BHK, rent is touching ₹50k-60k. Should we just buy a small flat instead, considering EMI might be similar? What's your experience with these rapid rent increases? Will they stabilise soon?