Rent Surge: Housing Rental Prices Increase Across Top Indian Cities

Average monthly rent for residential properties across seven major Indian cities has risen by 2-4% this quarter compared to the January-March period, citing Anarock's report. Increased housing supply has moderated the rental growth rate, with significant new units expected to enter the market.

Average monthly rent for residential properties has seen a 2-4% increase so far this quarter compared to the January-March period across seven major Indian cities, according to data from real estate consultant Anarock.

Anarock reported that the growth in housing rent across Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Pune, Hyderabad, and Bengaluru has slowed down due to an increase in housing supply. The analysis is based on average rent for a 2-BHK flat of 1,000 square feet.

In Q2 (April-June) 2024, residential rental prices in these key markets saw a 2-4% rise over the previous quarter, following a 4-9% quarterly increase in Q1 2024 against Q4 2023, according to the report.