Khan Market was 23rd most expensive retail location globally in last year's ranking. Nevertheless, Khan Market remains India's most expensive high street.
Data showed that housing rental rates saw substantial escalations in Kolkata (13.7 percent), Ahmedabad (12.2 percent), Hyderabad (11.5 percent) and Chennai (11.2 percent), contributing to an overall robust rise in rents across India.
Mumbai property market saw an appreciation of 10.2 percent in property rentals while Delhi witnessed an uptick of 7.3 percent in January-March.
Delhi-NCR now hosts India’s top three most expensive retail high streets which include Khan Market, Connaught Place and Galleria Market (Gurgaon). Anna Nagar in Chennai is the most affordable high-street market in the APAC region.
Today, with the mismatch between demand and supply of rental inventories tapering, several landlords have started decreasing rentals by Rs 10,000-15,000, even in prime locations like Koramangala.
Experts add that more home seekers, who are also unable to afford an apartment in the city, are turning to rental houses, reflected in the steadily increasing demand for rented properties in the city.
In Mumbai premium gated societies like Oberoi Splendor in Andheri East and Lodha The Park in Lower Parel saw a marginal growth of 4 and 9 percent respectively between 2023-2024. In Bengaluru, experts anticipate a drop in rental prices if the stagnation in the sector continues.
The ANAROCK data showed that the top seven cities – Delhi NCR, Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata and Pune – are set to deliver approximately 531,000 new units in 2024 while in 2023, these cities saw around 435,000 units hit their markets
Experts say, the gap between monthly rentals and EMIs has been narrowing, making many tenants take the plunge and decide to purchase instead of continuing to stay on skyrocketing rentals.
Delhi-NCR saw the highest, 8.8 percent, rise in rents from the year-ago period among the top the six cities. The growth in rents has surpassed pre-Covid levels
The harsh summer in Bengaluru this year is not only driving up sales of air conditioners and coolers but also the demand for rental ACs in the tech hub.
Bengaluru’s rental yield in pre-Covid 2019 stood at 3.6 percent, which amounts to a growth of 24 percent till date. Mumbai comes next with a rental yield of 4.15 percent in Q1 2024 as against 3.5 percent back in 2019.
Experts note that although south Bengaluru realty is growing, the city's east and north will continue to dominate the rental and commercial sector because of the rapidly expanding developmental projects.
An Anarock report said that coworking contributed 18 percent of total office supply in top 7 cities’ office leasing market in the current financial year. In terms of the new supply, 34 msf of fresh co-working stock has been added since 2017 till date across key coworking cities
Despite soaring rental rates in Bengaluru, some areas still offer affordable housing options. Here's a list of some areas that are relatively easy on the pocket
After 2 BHK, in the Mumbai real estate market, 1 BHK and 3 BHK are the most sought out of the total demand share. The demand share for apartments above 3 BHK units is mere 7%, according to data from Magicbricks.
According to a notification from the Union Ministry of Road Transport and Highways, all states/UTs are advised to accept and process applications for contract carriage permits for motorcycles by the provisions of the MV Act and the rules.
Experts maintain that it will take some years until new supply comes in to bring stability to 1BHK rentals in the city.
Settl, which is present in Bengaluru, Hyderabad, Gurugram and Chennai, has over 60 co-living centres in these cities with a total capacity of 4,000 beds
According to real estate experts, someone coming to the city will have to shell out at least Rs 20,000 monthly for 1BHK and Rs 30,000 for a decent 2BHK.
A range of homes is available, depending on one’s budget and preferred area of stay, and they include co-living spaces and paying guest options.
The report observed that homebuyers favoured apartment sizes exceeding 1,250 sq ft, contributing to 54.5 percent of the total demand and more than 50 percent homebuyers sought properties in the range of Rs 5,000-7,500 per sqft
The rental index report for July-September 2023 quarter observed that Thane (57.3 percent YoY), Gurugram (41.4 percent YoY), Greater Noida (28.7 percent YoY), Noida (25.2 percent YoY) and Hyderabad (24.2 percent YoY) observed highest appreciation in rent as compared to last year.
Getting an unjustifiable eviction notice from your landlord can be very troublesome. On top of that, if you are unaware of your rights as a tenant, it can be very difficult for you to deal with it. Watch this video to find out your rights as a tenant and the possible actions you can take to deal with this situation.
In terms of rental growth, Sarjapur Road and Whitefield in the east have an edge over North Bengaluru because of their proximity to the major IT parks.