After a gap of two years, rents of properties in some places have gone up manifold. The increase is more significant in gated communities. In communities where the rents have gone down drastically due to covid-19, now the rents have gone up. In SMR Vinay City’s gated community, a 2BHK is being let out at Rs 25,000, while the 3BHK is being let out at Rs 30,000 a month. It is not easy to get 2BHK flats in the community as they are fully occupied by tenants. Several tenants have come forward to locate themselves in the rental properties in the community that remained vacant for the past two years.
Reopening of schools and IT employees going to offices are some of the reasons for the increase in demand for rental properties. Moreover, the community welfare association developed good garden with aromatic and medicinal plants. It is also regularly conducting cultural events. It resolved several long-pending problems and modernized gym and swimming pool. It also established an open air gym. As a result of these facilities the rents appears to have gone up in the community, explained by Mr SeethaRam Korukonda, Vice President of the Smrvc Community.
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