Wednesday, July 24, 2024

Hyderabad Real Estate Sees Surge in Rental Rates as Return to Office Drives Demand

The real estate market in Hyderabad is experiencing a notable increase in rental rates in specific areas of the city, primarily attributed to the resurgence of in-person work. Over the past two years, the city has observed an average surge of 25 percent in rental prices.

This upward trend, however, is not consistent across all localities, with some areas witnessing a significant rise in rents while others remain stagnant. The shift from remote work to returning to office spaces is identified as a major catalyst for the increased rental rates in certain Hyderabad neighborhoods.

Several factors contribute to this phenomenon, including a spike in property prices that renders home purchase challenging for many individuals, subsequently driving up the demand for rental properties in the Hyderabad real estate market.

Highlighted in a report by TOI, the following areas are experiencing high demand for rental properties in Hyderabad:

  • Banjara Hills
  • Jubilee Hills
  • Kukatpally-Miyapur corridor
  • Gachibowli
  • Madhapur
  • Financial District
  • Nanakramguda
  • Hayathnagar
  • Peerzadiguda
  • Abdullapur

According to the report, rental rates in Banjara Hills and Jubilee Hills range from Rs. 50,000 to Rs. 1.5 lakh, while in the Kukatpally-Miyapur corridor, it falls between Rs. 25,000 and Rs. 40,000. In Gachibowli and Madhapur, the rates range from Rs. 27,000 to Rs. 40,000. In Nanakramguda and the Financial District, rents can go as high as Rs. 50,000. Other areas like Hayathnagar, Peerzadiguda, and Abdullapur are also experiencing a surge in rental prices.

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