Rentals increase by 20% in prime localities
Hyderabad- A survey conducted in Hyderabad showed that the residential property rentals have increased and have shifted from the affordable tag. The rental prices have increased by about 20% in the last six months which realtors blame towards the lack of new projects and increased demand for homes.
Hitech areas like Gachibowli, Madhapur, Srinagar Colony, Banjara Hills and Somajiguda are witnessing an increase in their rentals along with plush apartments. Most home buyers are terming this situation as less friendly as the rate cards for new homes continue to flaunt the cheaper rates.
Similarly, the demand for housing sector in the IT hub is increasing northward along with the nonavailability and absence of any new projects. Also since most areas are the central business district of the city, there is a serious dearth of vacant spaces. There are seldom any land parcels available in areas like Srinagar Colony which can accommodate new parcels.
Banjara Hills and Somajiguda, cheaper rates., Gachibowli, home buyers, Hyderabad, increased demand for homes., IT hub, less friendly, Madhapur, plush apartments., rentals, Residential property, Srinagar Colony
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