Bangalore's residential rentals escalate

Commenting on the same Vineet Singh, Business Head, 99acres.com said, “As far as rental trends for 2011 are concerned, the market will continue to see an upward movement. The Indian economy is growing at a fast pace and hiring activity is picking up and people are relocating or moving to better homes which in turn will effect the rental values of properties.

Also, the state of real estate is not in trend with the moving economy because availability of fresh inventory is less in the Bengalore region, thus resulting in rental values to escalate on an annual basis.”

A look at the rentals of a 3BHK house in key localities of Bengalore East shows that the residential areas of Marathahalli and Whitefield witnessed maximum appreciation.

Marathahalli saw 24% increase in rentals in Q1-11 over Q1-10, while Whitefield saw 9% rise in rentals over the same time period. During the same time, Indiranagar maintained steady rentals. ll localities of South Bangalore saw escalation in rentals.

JP Nagar has seen the highest appreciation with the rentals moving up by 30% in Q1-11 over Q1-10.  Banerghatta and JSR Layout have also seen increased rental values with rentals in these areas going up by 15%, and 10% respectively in Q1-11 over Q1-10.