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Rental rates up in major cities
Posted on: 28/Jan/2019 10:48:18 AM
It has been found that the increasing rental rates in major cities such as Chennai, Bengaluru, and Mumbai as caused a spurt in the cost of living for the citizens.
The website pertaining to this field, nobroker.com has conducted a recent survey with the tenants residing in 5 major cities including Chennai, Mumbai, and Bengaluru and this has established that rental rates (rent ratio) have gone up.
In the Mumbai Metro City, the rents have gone up by a maximum of 18%. In the Chennai Metro City, it has gone up by 15%. In Bengaluru, it is 14%. Further, it has also been found that the landlords who rent the residence demand for a higher amount of advance to be deposited with them.
Though the rents have gone up, most of the families prefer 2 or 3 bedroom houses. However, in the year 2017, 1 bed-room residences were most in demand.
