Indian Cities Witness Surge in Rental Income, Magicbricks Report Reveals
Rental incomes have seen a significant increase across major Indian cities, with Ahmedabad, Pune, and Kolkata offering the highest rental returns at 3.8 per cent.
Indian Real EstateRental IncomeMagicbricks ReportResidential PropertyInvestment OpportunityReal Estate PuneAug 02, 2024
Bhadra predicts that rental demand and rents will continue to rise in the near term. The report also highlights that the supply of rental units is expected to improve as under-construction properties near completion. This presents a lucrative opportunity for landlords and investors. Some cities have seen significant quarterly rent hikes, including Navi Mumbai (6.2 per cent), Hyderabad (4.2 per cent), and Ahmedabad (4 per cent).
Rental demand has also seen a marked increase of 14.8 per cent quarter-on-quarter, despite a 2.2 per cent dip in supply due to high absorption rates. This has led to higher rents in cities like Mumbai, Delhi, and Thane. Other cities, such as Greater Noida,
Noida, and Bengaluru, have also witnessed noticeable rent increments. Residential real estate remains a profitable investment option, with Ahmedabad, Pune, and Kolkata yielding the highest rental returns at 3.8 per cent. Magicbricks, which has an active base of over 15 lakh property listings, is a leading platform for property transactions.
Frequently Asked Questions
Which cities have seen the highest rental returns?
Ahmedabad, Pune, and Kolkata have yielded the highest rental returns at 3.8 per cent.
What is the predicted trend for rental demand and rents?
According to Magicbricks, rental demand and rents are expected to continue rising in the near term.
Which cities have seen significant quarterly rent hikes?
Navi Mumbai (6.2 per cent), Hyderabad (4.2 per cent), and Ahmedabad (4 per cent) have seen significant quarterly rent hikes.
What is the current state of the rental market in India?
The rental market in India is witnessing a surge in demand and rents, with a 14.8 per cent quarterly increase in rental demand and a 2.2 per cent dip in supply.
Why is residential real estate a profitable investment option?
Residential real estate remains a profitable investment option due to the potential for high rental returns and capital appreciation.
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