Two independent surveys have found that Bengaluru experienced the steepest rise in rentals in 2023. Rents in the city's Bengaluru’s prominent areas soared by over 30 percent, according to No Broker's Real Estate Report 2023 and consultancy firm Anarock.
Seven percent of landlords in Bengaluru and Mumbai increased rents by more than 30 percent in 2023, No Broker stated, adding that 52 percent of the landlords surveyed in Bengaluru rely completely on their income from rents.
On the other hand, as per Anarock's report, Bengaluru, Hyderabad, and Pune have seen maximum rental hikes in the first nine months of 2023. According to the consultant's findings published by the New Indian Express, a standard 2BHK flat of about 1,000 square feet area in Bengaluru’s Whitefield witnessed rents grow by 31 percent while rents for such homes in Sarjapur increased by 27 percent.
The increase in rents in other cities such as Delhi NCR, Mumbai, Chennai, and Kolkata has been between 9 percent and 14 percent.
