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Salaried class ready to spend Rs 16K per month on house rent, students' avg budget at Rs 11K

Press Trust of India  |  New Delhi 

The average budget of salaried class looking for a house on rent is around Rs 16,000 per month, while students are ready to spend around Rs 11,000 a month, according to realty portal Makaan.com.

"Of all those who are looking for a rented house across Indian cities, over 69 per cent are salaried employees, while 16 per cent are self-employed and 15 per cent are students. Most tenants would like to move in within a week after selecting a house," Makaan.com said in a statement.

The study is based on an analysis on home renting trends by mProfile, a personalised service for landlords and tenants on Makaan.com, which is a part of that owns Housing.com as well as PropTiger.com. The data is from all major housing rental markets in the country.

"With 40 per cent salaried class looking for the rental of Rs 10,000 or less and about same percentage between Rs 10,000 and Rs 25,000, the average rental budget stands at around Rs 16,000 across cities," it said.

In students category, about 45 per cent are ready to shell a rental of Rs 7,500 or less per month and about 30 per cent are willing to spend between Rs 7,500 and Rs 15,000 per month. The average rental budget stands at around Rs 11,000 across cities.

The national average reflects that most tenants plan to live for at least a year in their new rented places.

Tenants prefer to shortlist their homes before making a visit to the physical sites.

While over 66 per cent of tenants looking for rented homes are men, 30 per cent are women. Over half of those looking for rented homes are non-vegetarians, while about 49 per cent are vegetarians.

Over 61 per cent of landlords have set no specific choice as to who they are more willing to rent their property to. Nationally, only over a third of them have stated a preference for families.

Majority of landlords want only 1-2 person(s) to occupy their rented place and only 24 per cent prefer to rent to a group consisting of more than four members.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 11 2019. 19:18 IST
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