Hyderabad To See An Escalation In Rate Of A Rent House
As the property in Hyderabad steps up, the rental rates too shall increase. In the current quarter (June-Sept), the prices of rental houses have already appreciated. In Kukatpally, Madinaguda, S.R Nagar, an appreciation of 10% has been witnessed. On the same lines, in Ameerpet, Banjara Hills, and Gachibowli, the rental prices have gone up by 7-9%. The demand for rental homes is more in these localities. Chandanagar and Manikonda are the areas where the rates have plummeted. A fall of 9-10% has been seen in these two localities in the current quarter. Same is the case with Nizampet where the tenants would now have to pay 13% more rent on hiring a space on lease.
If psf (per square feet) rates are talked about, a rent house in Hyderabad comes at different values. The localities where these rates are higher include Banjara Hills, Jubillee Hills, Srinagar Colony, Filmnagar, Gachibowli, Hitech City, and Somajiguda. The stronghold by IT sectors in these areas is the prime reason for high demand for rental houses. This, in turn, lets the landlords raise the rates. In these areas, the average psf rates here vary between Rs.15-17/- In the rental range 11-13/- sq. ft. come the colonies like KPHB Colony, Kukatpally, Madinaguda, S.R.Nagar, Ameerpet, and Begumpet.
To elaborate more on the rental rates, let's us consider a 2 BHK Independent House/Villa in different parts of the city. The monthly rental for such a property in Bandlaguda, Tukaram. Saimurthi Nagar, Manikonda, Miyapurm Attapur, Anwal, and A.S.Rao Nagar varies between 6-8k. However, at Bowenpally, Kothapet, Balanagar, and Tulsinagar, the tenants should expect the monthly rent between 10-20k. APPA Junction and Damnaiguda are the two localities where two-room Independent houses can be available at a mere 3-4k rental rate.