In Hyderabad, rentals have increased by 5 per cent to 10 per cent as offices bid goodbye to work from home and many people returned to the city.
Updated – August 27, 2022, 01:05 am
Hyderabad: It appears that the COVID-19 pandemic is subsiding, at least for now. Life has almost returned to normal at most places, and yes, offices are saying goodbye to work from home and reviving the work from home system. And, in Hyderabad, one of the fastest growing IT sectors in the country, it means something else. Many people, who had gone to their home states and towns about two years ago, are returning to the city. And that, in turn, means many people will be looking for housing.
So, this, by all means, could be the right time for landlords in the city to rent out rooms, shares and houses and earn some money. In fact, residential demand has increased across all the top cities in the country, according to a recent Anarock report, which said that the top cities have seen residential demand, and in turn, an increase in rentals, which is higher than the former. -Compared to the COVID-19 period. 2019. Fares in Hyderabad have increased by 5 percent to 10 percent, reports said.
The second quarter of the financial year, in fact, saw Hyderabad witness the third highest new launch residential supply of around 15,800 units, accounting for 19 per cent of the total new supply among the top seven cities. Residential sales were mostly concentrated in two regions, West and North Hyderabad, which accounted for 50 per cent and 42 per cent share respectively, as home buyers opted to be close to the IT/ITeS hubs of the financial district. The share of East and South Hyderabad in housing sales was about seven percent. And it also meant that people who did not want to buy homes were looking for rental properties.
Major markets like Gachibowli, Kondapur, Miyapur, LB Nagar and Adibatla witnessed a rise in rental prices ranging from five per cent to eight per cent, the report said.
Now, since the market outlook is quite good, it is easy to dream about additional income from the rental share. But some things should be kept in mind while renting out your house or any part of it. The first thing to do is to learn a little about the rental properties market, especially in your area. This will help you decide how much rent you want to charge. Those who have high expectations and demand high rates may have to wait endlessly for a tenant, especially if the quoted rent is higher than the market rate. And also, your rent should not be less than the rent charged by other landlords in your area. Of course, it all also depends on the condition of the room, part or house you want to rent out and what facilities you get there.