According to a survey by real estate website NoBroker, while rates have generally increased across cities in 2022, tenants in Bengaluru, Delhi-National Capital Region, and Hyderabad have suffered the most, with rent increases of up to 30% for more than 20% of tenants.
According to the survey, which included 26,000 respondents from Bengaluru, Mumbai, Pune, Chennai, Hyderabad, and Delhi-NCR, rental inflation in prime neighbourhoods can reach up to 12% in some cities.
In Bengaluru, Delhi-NCR, and Hyderabad, 32% of respondents reported that their rents had jumped by more than 20%, while 42% of renters claimed they had increased their range up to 10%.
The survey states that Mumbai experienced rental inflation of 30% over the previous five years, Bengaluru of 33%, and Delhi-NCR of approximately 11%.
A third of tenants have relocated because of a job change, according to the survey, which was highlighted.
One of the main justifications given for moving to Pune, Chennai, and Hyderabad was job transferring. The three cities with the highest rent increases were Bengaluru, Delhi-NCR, and Mumbai. Additionally, 30 percent of tenants in Chennai, the largest percentage of any city, moved because they needed a bigger home.
"19% of tenants moved because they required a larger home. This percentage has decreased from 29% in 2021, perhaps indicating that people are ok with having less space now that offices are reopening. Rent increase was cited as the primary issue by almost 32% of tenants (up from 18% in 2021), "said the research.
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