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Housing rent up 1-4% in last one year: Report
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Housing rent up 1-4% in last one year: Report
Publish on : 2020-05-07 13:29:44
The rental value of residential apartments in Chennai, Kolkata and Ahmedabad grew by 2 per cent. NEW DELHI: Housing rent has increased by 1-4 per cent in the last one year across eight major cities, according to a report by property portal 99acres.com. According to the report, the rental value of residential apartments in Pune rose maximum by 4 per cent during January-March 2020 compared with the year-ago period. Bengaluru, Mumbai Metropolitan Region (MMR) and Hyderabad saw 3 per cent rise in housing rents. The rental value of residential apartments in Chennai, Kolkata and Ahmedabad grew by 2 per cent. The national capital region (Delhi-NCR) saw least appreciation in rent by just one per cent. "Mumbai, Pune, Bengaluru and Hyderabad posted a 3-4 percent growth in rental 'asks', year-on-year surplus housing stock in Delhi-NCR kept rental rates under check," the company said. Bengaluru and Kolkata were the most lucrative for rental income with the yield ranging between 3.65 and 3.75 per cent, it added. Info Edge India owns 99acres.com, a property classified.

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