I will be moving to Toronto and my office will be in Queens Quay. SO which will be the nearest place to look for residential apartment and good school and what are the rents there.

Please look anywhere close to the subway line.
There are some top of the line apartments at Queen's quay. They may cost as much as $ 2000 to $ 2500 a month (look at Kijiji.com). Schools may not be there (as it is downtown).

Hence better option is to look at areas like High park or pape and the line. This is all european area.
If you want Desi people nearby and at schools, then Islington subway station is the best. Travel time by subway from queens quay will be around 30-40 mins.

Start with the map of Toronto and look at areas west of Queen's quay or North of Queen's quay (along the subway line).

Now a days some desi software engineers are staying at Davisville. It is a nice area with a good mix of cultures in schools. You may get apartments here from $ 1200 (2 bed) to $ 2000 (3 bed)

Murali

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I am a Gents and not a Ladies.