Business

Rent is increasing. How much does the price increase in Mumbai, Pune, Bangalore, Delhi, Hyderabad

Data Anarock took average monthly rent for 2,000 square feet apartments in select luxury locations of these seven cities.

According to the data, Mumbai’s Worli sees the highest rental growth of 18% to 2.35 lakh per month per apartment from 20,000 per month in 2020 for luxury homes of 2,000 square feet.

Rajaji Nagar of Bengaluru sees peak capital gain of 9% with average price rising 6,200 per square foot by 2022 from 5,698 per square foot by 2020.

“Most prominent luxury housing markets have seen double-digit growth in rents over the past two years,” said Anarock President Anuj Puri.

“Prior to COVID, the 2-year average rent increase at a given time was mostly single-digit, between 5-7%,” he added.

Puri said tenant preference has leaned toward larger homes after the second wave of the pandemic.

According to the data, the average monthly rent in JP Nagar, Bengaluru has increased by 13% to 52,000 each unit is 2,000 square feet by 2022 vs 46,000 in 2020. Capital value increased by 9% to 6,200 per square set.

At Rajaji Nagar in Bengaluru, the average monthly rent increased 16% to 65,000 for 2,000 square feet from 56,000 in 2020. Capital value increased by 5% to 13,900 per square set.

In Chennai, the average monthly rent in Anna Nagar increased by 13% to 63,000 for luxury apartment 2,000 square feet from 56,000. Cost of capital increased by 5% 11,850 per square foot from 11,300 per square set.

Similarly, in Kotturpuram, the average monthly rent increased 14% to 84,000 for 2,000 square feet of apartments from 74,000 in 2020. COGS increased by 4% to 14,000 per square foot.

Average monthly rent in luxury residential Jubilee Hills, Hyderabad increased 15% to 62,000 for a 2,000 square foot apartment by 2022. Capital value increases by 6% to 7,400 words 6,950 per square set.

HITECH city in Hyderabad sees average monthly rent increase 11% to 59,000 for each 2,000 square foot apartment. Increase the cost of capital by 7% to 6,100 per square foot.

In Kolkata, the average rent in Alipore increased by 8% to 65,000 for a 2,000 square foot apartment in 2022 vs 60,000 per month in 2020. COGS increased by 4% to 13,500 per square set.

In Ballygunge, the average monthly rent increased by 10% to 97,000 for an area of ​​2,000 square feet from 88,000, while the cost of goods increased by 3% 11,700 words 11,350 per square set.

By MMR, average monthly rent in Tardeo increased by 15% to 3.1 lakh for an area of ​​2,000 square feet from 2.7 thousand. Cost of capital increased only 3% to 43,000 words 41,862 per square foot by 2020.

In Worli, the average rent increased by 18% to 2.35 lakh per month for apartment 2,000 square feet from 2 lakh per month in 2020. Capital value only increased by 2% up 39,350 per square foot from 38,560..

In Delhi-NCR, the average monthly rent in Golf Road increased by 11% to 78,000 for 2,000 square feet apartments from 70,000 in 2020. Capital value only increased by 3% to 13,500 words 13,150 per square set.

Likewise, the Golf Course Extension saw average monthly rents increase 12% to 56,000 for a 2,000 square foot apartment. Cost of capital increased by 5% 8,700 words 8,300 per square foot by 2020.

In Pune, the average monthly rent in Koregaon Park increased 14% to 68,000 for 2,000 square feet apartments from 59,500 per month in 2020. COGS increased by 4% to 11,600 per square set.

At Prabhat Road in Pune, the average monthly rent increased by 8% to 69,000 for a 2,000 square foot apartment. Cost of capital only increased by 3% 12,900 per square set.

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