Hyderabad: The real estate market in Hyderabad is witnessing a surge in rental rates in some areas of the city due to the return of work from the office. The city has recorded an average jump of 25 percent in rentals in the past two years.
However, the surge is not uniform, as some areas have witnessed a spike in rents, whereas other localities in Hyderabad have seen stagnant growth.
Work from office behind rise in rental rates in Hyderabad
One of the major factors in the rise in rental rates in some areas in Hyderabad is the end of work from home and the return of work from the office.
Other factors include an increase in property rates that make buying a home difficult for many, thereby increasing the demand for rental properties in the real estate market in Hyderabad.
Hyderabad real estate sees rise in demand in some areas
According to a report by TOI, rental properties are in high demand in the following areas in Hyderabad:
- Banjara Hills
- Jubilee Hills
- Kukatpally-Miyapur corridor
- Gachibowli
- Madhapur
- Financial District
- Nanakramguda
- Hayathnagar
- Peerzadiguda
- Abdullapur
According to the report, in the real estate market in Hyderabad, the rental rates in Banjara Hills and Jubilee Hills range from Rs. 50,000 to Rs. 1.5 lakh, whereas in the Kukatpally-Miyapur corridor, it is 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, the rents go as high as Rs. 50,000.
In other areas of Hyderabad, such as Hayathnagar, Peerzadiguda, and Abdullapur, the rents are surging.
