Living in a rental property has become a norm these
days: with metropolitan cities offering bait in terms of money and
secured future, more and more people have took to living on rent these
days. The number of people living in a rent house in Hyderabad,
Bangalore, and Chennai form a lion's share of their total population.
They are either low on income or have drifted to these cities in search
of job. Places like Banjara Hills, Jubilee Hills, and Hi-tech City in
Hyderabad attract big crowds every year. With such a high demand for
rent/lease properties, the prices too are soaring like anything.
In past 12 months, the price of a house for rent in Hyderabad
has seen an appreciation of more than 10%. The median price/ sq. ft for
the city in the month of August is Rs. 3106. In individual localities,
the % inflation is even higher. Look at Hi-tech City: the rental rate
got appreciated by 29% here, with psf standing at Rs. 4131. In Miyapur,
the % increase has come out to be 17, as seen over the same period. The
other localities like Gachibowli, Kondapur, Banjara Hills, Jubilee
Hills, and Srinagar Coloney too have pretty high tariffs for rented
apartments. A 2 BHK rental property in Banjara Hills can cost you around
Rs. 30,000/month. As these areas are highly populated with professional
class, who earn 6-figure salaries, paying huge rentals isn't a big
problem for them.
But there are people who thrive on modest incomes. For them, it becomes necessary to locate an affordable rent house in Hyderabad real estate.
At Manikonda, the rates are not that high: a 2 BHK is available
anywhere between 10-14k. At Nallakunta, the rental prices are even
lower, starting at 6k or something like that. Berrumguda, Dilsukh Nagar,
Nagole, and Mehdipatnam are a few other economical options. Bowanpally,
D.D. Colony, Amarpreet, Rajender Nagar, and Attapur Ring Road too have
rental properties that suit the budget of a user from middle-class
segment.
Makaan.com, a property portal
for buying/renting properties online, lists lakhs of residential and
commercial spaces in different cities across India. Choose property as
per your budget and other preferences like amenities, age of
construction, and state of furnishing.
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