Housing Rent

Housing is an important component of the CPI series as it has a weightage of 21.67 per cent in urban areas and 10.07 per cent at the all-India level in the current series

Residents in Bangkok spend 79 per cent of their income on rent, followed by Mumbai at 66 per cent and Mexico City where renters use over two-thirds of their earnings to pay for housing

Meanwhile, overall housing sales across the top seven Indian cities declined by 20 per cent YoY due to inexorably rising property prices and geopolitical tensions

Revenue of REA India -- owner of Housing.com and PropTiger -- rose 31 per cent in the last fiscal ended June to Rs 563 crore helped by strong demand for residential properties, its CEO Dhruv Agarwala said. REA India, which is part of Australia's publicly listed firm REA, is a full-stack real estate technology firm and owns two online classified advertisement platforms Housing.com and Makaan.com as well as housing brokerage PropTiger. The company's revenue stood at around Rs 430 crore in the 2022-23 fiscal (July-June). Commenting on the performance, Agarwala said, "FY24 has been a year of significant growth and innovation for our company. The success of our online events, which achieved record collections, reflects our strong market presence and the effectiveness of our strategy." The company's new products and innovations, both for customers and home seekers, have gained great popularity among the target groups and boosted sales, he added. Moreover, Agarwala said the continued gro

Housing supply slowed down rent growth in major cities in first quarter of FY24, says real estate consultancy Anarock

The contributing factors include narrowing the gap between rents and EMIs, increase in affordability and security of owning a home

What tenants should ask from landlords in rent agreements; how to bring discipline in your market play. Our newsletter explains

The average monthly rental for premium housing rose 28 per cent year-on-year in Gurugram during the January-June period of this year on higher demand, limited supply and appreciation in capital values, according to Savills India. In Gurugram, the "average rentals witnessed an increase of 28 per cent YOY (year-on-year) across all markets. GCER (Golf Course Extension Road & SPR (southern peripheral road) and Golf Course Road saw the highest rise in rentals with 33 per cent and 31 per cent YOY growth, respectively," real estate consultant Savills said in its report. As per the report, the average quoted rentals are for 3BHK and 4BHK apartments on Golf Course Road and 3-BHK apartments in other micro markets. As per the Savills data of the first half of 2023, Golf Course Road commands a monthly average rental of Rs 1,95,941, while the average rent at Golf Course Extension Road and Southern Peripheral Road is Rs 1,01,000 a month. The data showed that average rent in New Gurugram is Rs ..

Students will have to shell out more for hostel accommodation as a 12 per cent GST would be applicable on the rent paid, the Authority of Advance Ruling said in two separate cases. The Bengaluru bench of the Authority of Advance Ruling (AAR) said hostels are not akin to residential dwelling units and hence are not exempt from Goods and Services Tax (GST). In an advance Ruling sought by Srisai Luxurious Stay LLP, the AAR said GST exemption was applicable on the accommodation services, of charges up to Rs 1,000/- per day, provided by hotels, clubs, campsites etc. till July 17, 2022. "PG/Hostel Rent paid by inhabitants do not qualify for GST exemption as the services provided by applicant are not akin to renting of residential dwelling for use as residence," the Bengaluru bench said. GST on reverse charge will be applicable on the rental to be paid to the landowners by the applicant as the services of the applicant are leviable to GST and thus the applicant has to obtain GST ...

Rental prices for micro-markets in Noida and Gurugram have soared, with landlords trying to make up for losses

Go for house purchase if EMI doesn't exceed 40 per cent of net salary; ensure financial resilience with 12 instalments in emergency fund

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The techies, especially those in early phase of their career, are finding it difficult to afford exorbitant rents and they are considering to migrate to distant localities that have afforable rents

The biggest jump in the house rent was seen in Noida Sector 150 where the monthly rent for a 1,000 sq ft flat jumped 23 per cent from Rs 15,500/month in 2019 to Rs 19,000/month

Residential properties taken on rent by families or individuals for own use exempted

For property bought as resident or inherited, up to $1 mn can be sent each year

Average monthly rentals in posh residential colonies across seven major cities rose 8-18 per cent in last two years while capital value appreciated by 2-9 per cent, according to Anarock. Real estate consultant Anarock noted that demand for luxury residential properties -- for buying and renting -- in upscale colonies has increased across the seven cities namely Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune. As per the data, Mumbai's Worli saw the highest rental growth of 18 per cent to Rs 2.35 lakh per month from Rs 2 lakh per month in 2020 for luxury homes of minimum 2,000 square feet area. Bengaluru's Rajaji Nagar witnessed the highest capital appreciation of 9 per cent with average prices increasing to Rs 6,200 per square feet in 2022 from Rs 5,698 per sq ft in 2020. "Most prominent luxury housing markets witnessed double-digit growth in rentals in the last two years," Anarock Chairman Anuj Puri said. "Pre-COVID, average 2-year lux

PriceLabs was founded in 2014 to bring Artificial intelligence (AI) and analytical tools to owners and managers of vacation homes and short-term rentals

Keep rent receipts that serve as proof handy should taxmen come calling

Applicable rate is 30% for non-resident landlords, 5% for rest