Housing rents to soar in metro cities..?

The vacant office and houses were street to street due to the continuous cancellation of leases for houses and offices across india at the time of lockdown. But today not only have rents soared to frighten the middle class, but demand for rental and leased housing has grown exponentially. Similarly, some of the survivors began to move to the large cities after the offices were opened.
In the last 5 months, all of this has happened due to the fact that all the vacant and free offices to houses were filled. As a result, the number of lease agreements in 7 metro cities in india has increased by 6-20 percent.In the last 3 years, this growth in lease agreements has been never expected and unimaginable. At the same time, it is noteworthy that in the last 5 months more people have shifted to bigger houses as they have hybrid jobs near school, college, and office. Due to short-term demand, house rent and lease payments have increased. This forced the middle-class people to pay a large portion of their monthly salary towards their rent and also severely affected the middle class. This came as a shock to them.

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house rents increase in metro cities

Sowmiya Sriram

08/06/2022 03:07 PM