House Rent hike: Bengaluru 7% to 30% Spike in House Rent Prices
House Rent Hike in Bengaluru: Rumors of skyrocketing rental rates in Bengaluru city have been confirmed by a report by a realty portal. ‘No Broker – Real Estate Report 2023’ Single-tenant prices in Mumbai and Bangalore are on the rise as owners hike rents by 7 to 30 percent.
Bengaluru: It is being heard that the rental rates in Udyannagari are increasing excessively. This has been confirmed by a realty portal report. In Mumbai and Bangalore, there has been an increase at the same rate, and the owners have increased by %. The ‘No Broker – Real Estate Report 2023’ states that rents will increase by 7 to 30 percent.
According to the survey, 52% of the house owners in Bangalore depend on rental income. 42% of renters are ready to buy property due to a rent increase. As the metro network expands across the city, the demand for homes in the corridor is increasing.
On the rise in rents, Saurabh Garg, Co-Founder, of NoBroker said, “During the COVID-19 pandemic, the shutdown of realty projects affected the supply of properties. People continue to enter the city. But rents are increasing. Indian real estate sector will see more property purchases in 2023, gain,” he said.
“North Bengaluru is undergoing a significant transformation. It is emerging as a hub for real estate development. KIDB has played a major role in industrial development in the Bengaluru region,” the report explained.
84% of landlords want family, people want space close to the workplace. And 30 percent want to invest because of rising rents. 55 Also check Vastu before renting houses.
Popular areas for house rent:
Verture, Electronics City Phase 1, Haralur, Chikkanahalli, Whitefield.
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