Costly Living: Living in expensive areas became more expensive, after 2020, the average monthly rent in 7 cities of the country increased by 18%
Costly Living: The way India is recovering from the Corona crisis and the economy is getting back on track, people have started going to office after leaving work from home. But this change has brought trouble for people living on rent in expensive areas. According to the latest report, the rents in the posh colonies of the cities are increasing at a rapid pace. This is the condition of 7 metros of the country, where the average monthly rent of houses has increased by 8 to 18 percent.
According to the latest report by real estate advisory firm Anarock, the monthly average rent in the expensive residential colonies in seven major cities of the country has increased by 8 to 18 per cent in the last two years, while the price of houses has increased by two to nine per cent.
Rent increased in these cities
Real estate consultant Anarock said that the elite residential colonies in Delhi-NCR, Mumbai, Mumbai Metropolitan Region, Chennai, Kolkata, Bengaluru, Hyderabad and Pune have seen increased demand for buying or renting expensive residential properties.
where how much rent
Monthly rent for high-end homes with minimum area of 2,000 sq ft in Worli Mumbai area increased by 18 per cent to Rs 2.35 lakh per month from Rs 2 lakh in 2020. Bangalore’s Rajaji Nagar saw the highest capital addition of nine per cent and average prices increased from 5,698 per sq ft in 2020 to 6,200 per sq ft in 2022.
trend towards bigger homes
Anuj Puri, President, Anarock, said, “The rents for the most important high-end residential markets have seen double-digit growth over the years.” .
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