Skyrocketing Rents: Delhi-NCR's Rental Market Sees Unprecedented Hikes

Landlords in Delhi-NCR demanded an 18% increase in average rents during the December quarter, as reported by Magicbricks. Areas including Greater Kailash and Sector 65 in Gurugram reported high rentals, while Noida remained relatively affordable. The rise was notably steep with a 27% surge in Delhi city rents.

In a startling trend, landlords in the Delhi-NCR region have hiked asking rents by an average of 18% during the December quarter, according to a Magicbricks report. This surge highlights the pressure on tenants amid escalating rent demands.

The report revealed significant year-on-year rent increases, notably in Delhi where asking rents shot up by 27%, reaching an average of Rs 40,265 for a 2BHK apartment. Greater Kailash, known for its premium appeal, topped the rental charts with Rs 59,400 for a 2BHK unit.

Noida remains a more affordable area despite rising by 17.3%, with rents averaging Rs 22,089. In Gurugram, high rents were seen in areas like Sector 65 and DLF Cyber City, although options like South City 2 offered slightly lesser pressures.

(With inputs from agencies.)