Hitech City, Gachibowli most expensive for Hyd tenants: Report

Hyderabad: Indian rental housing demand (searches) grew 29.4% in the second quarter of 2022 (April to June), revealed Magicbricks' India Rental Housing Update. Meanwhile, Hyderabad's residential demand grew 42% in the second quarter while the supply increased to 9.4%.
The pan-India average rental witnessed a growth of 8.4% this quarter. At the same time, Hyderabad saw an increase of 14.3% in average rents due to the swift reverse migration to cities for work-related opportunities, according to the Update.

With offices reopening, the workforce is swiftly returning to the city, resulting in a sharp demand for rental properties. The current supply of rental units in Hyderabad is unable to keep up with the persistent demand. Several under-construction projects in the city have been delayed, the report said.