House Rents Rise Significantly in Major Indian Cities

Property Prices Rise Sharply in Top 7 Cities

According to a recent report by leading real estate consulting firm Anarock, residential rents and property prices have increased significantly across India’s seven major cities — Hyderabad, Delhi NCR, Bengaluru, Pune, Kolkata, Chennai, and Mumbai. However, the report also highlights that the rise in property prices has outpaced the growth in rental rates in most of these cities.

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Property Values Soar by Up to 128% Since 2021

Between 2021 and 2024, housing prices across these seven cities have seen an average increase of 128%. Cities like Bengaluru, Mumbai, Delhi NCR, and Hyderabad experienced steeper price hikes compared to rental increments. On the contrary, cities like Pune, Kolkata, and Chennai saw rentals growing faster than property values, as per the report.

Hyderabad Sees Steep Growth in Property Prices

In Hyderabad, areas like Hitech City and Gachibowli have witnessed substantial property price hikes compared to rentals.

• Hitech City recorded a 62% rise in property prices but only a 54% increase in rental rates.
• Gachibowli experienced a massive 78% surge in property values, while rentals rose by 62% during the same period.

Rent Hikes Across Major Localities in Hyderabad

The study also pointed out that Hyderabad’s rental market is seeing steady growth, particularly in IT corridors and nearby areas:

• In Chandanagar, double-bedroom rentals increased from ₹18,000 to ₹22,000.
• In Toli Chowki, rents rose from ₹20,000 to ₹24,000.
• In Manikonda, double-bedroom rents climbed from ₹22,000 to ₹26,000.
• In Kukatpally, Gachibowli, and Kondapur, double-bedroom rents now start at a minimum of ₹28,000.

Premium areas like Jubilee Hills have seen even steeper rises, where triple-bedroom rents shot up from ₹55,000 to ₹75,000 — marking a 20% hike. In Hitech City, premium house rents have grown by 12%, from ₹53,000 in 2020 to ₹60,000 in 2024.

Average Rental Increase of 18% in Hyderabad

Overall, Hyderabad recorded an average rent hike of about 18%, driven mainly by the limited supply of luxury apartments and rising demand, especially in IT hubs and corporate zones. Real estate experts suggest that the demand-supply gap in key areas is the main reason for the steady increase in rentals.

Hyderabad, Noida, and Mumbai Favorable for Property Value Appreciation

The report concludes that cities like Hyderabad, Noida, and Mumbai continue to remain favorable for investors looking for property value appreciation, given the consistent upward trend in prices