According to Anarock Research, rental values across key micromarkets in Hyderabad are set to increase significantly between the end of 2021 and the first half of 2024.
Published Date – 18 Sep 2024, 07:26 PM
Hyderabad: The debate on whether one should buy or rent a home in Hyderabad has heated up as rental prices are rising, with some areas even witnessing a steep rise in rents.
According to Anarock Research, rental values across key micromarkets in Hyderabad are expected to increase significantly between the end of 2021 and the first half of 2024. Notably, areas such as Gachibowli and Hitec City witnessed a 50 per cent and 46 per cent increase in rental values, respectively, while capital values increased by 70 per cent and 59 per cent.
Dr. Prashant Thakur, Regional Director and Head of Research, Anarock Group, said that data analysis of key micro markets across top seven cities shows that average residential rental values have increased more than capital values between the end of 2021 and the first half of 2024 in cities like Bengaluru, Pune, Kolkata and Chennai.
“However, areas in NCR, MMR and Hyderabad witnessed the opposite trend – capital values increased more than rental values. Such data can be an important parameter – though not the only parameter – used to determine whether it is more beneficial to buy a property or rent it,” he added.
For instance, average monthly rent in Hitech City rose from Rs 23,000 in 2021 to Rs 33,500 by mid-2024, while capital values rose from Rs 5,800 to Rs 9,200 per sq ft during the same period.
Similarly, rents in Gachibowli rose from Rs 22,000 to Rs 33,000, while capital values rose from Rs 5,010 to Rs 8,500 per sq ft.