Anarock, a leading real estate consulting firm, has confirmed that rents have increased in the seven major metro cities of India. The latest report also mentions that home prices have risen along with rents. However, home rents have not increased in line with the rise in home prices. Anarock conducted a survey on the rent and price trends of homes in cities like Hyderabad, Delhi NCR, Bengaluru, Pune, Kolkata, and Chennai. Between 2021 and 2024, home prices in these 7 metro cities rose by 128%. In cities like Bengaluru, Mumbai, Delhi NCR, and Hyderabad, home prices have increased significantly compared to the rise in rents. However, in Pune, Kolkata, and Chennai, rents have risen more than home prices, as per Anarock’s findings.
It has been revealed that in areas like Hi-Tech City and Gachibowli in Greater Hyderabad, there has been a higher increase in home prices compared to rent. In the Hi-Tech City area, home prices increased by 62%, while the rise in rents was only 54%, according to Anarock. In Gachibowli, home prices grew by 78%, while rents increased by 62%. For buyers hoping for an increase in property value, Hyderabad, Noida, and the Mumbai Metropolitan Region are recommended cities. At the same time, investors who are hoping for higher rental increases are advised to look into other metro cities.
In Hyderabad, along with the IT Corridor, rents are gradually increasing in nearby areas. In Chandannagar, the rent for a double-bedroom house, which was Rs 18,000 recently, has now increased to Rs 22,000. In Tolichowki, the rent for a double-bedroom house has risen from Rs 20,000 to Rs 24,000, and in Manikonda, the rent for a two-bedroom house has increased from Rs 22,000 to Rs 26,000. In Kukatpally, Gachibowli, and Kondapur, the rent for a minimum double-bedroom house is ₹28,000. In other cities across the country, rents have increased by 18% in Mumbai, 14% in Chennai, and 13% in Bengaluru.
In Hyderabad, rents for residential properties have significantly increased in areas where IT companies and major offices are located. Specifically, there has been a high demand for luxury homes in the city. For instance, in Jubilee Hills, the rent for a triple-bedroom house was Rs 55,000, which has now increased by 20%, reaching Rs 75,000. In Hi-Tech City, the premium house rent, which was Rs 53,000 in 2020, has now increased by 12% to Rs 60,000. Market data shows that, on average, home rents in Hyderabad have increased by 18%. The primary reason for the rise in rents is the lack of supply of luxury homes to meet the growing demand in key areas.
