Enter longer-duration lease to control hike in home rental rates

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

Rental rates in prime areas of the country’s seven largest cities have surged between 10 per cent and 24 per cent between the first quarter of calendar year 2022 and the same period of 2023, according to a recent report by ANAROCK Research. The steepest uptick was witnessed in Bengaluru’s neighbourhoods. Analysts predict this fast-paced increase may persist in the near term.

Widening demand-supply gap

Rental rates have shot up across cities over the past year because demand is up, while the availability of houses, especially in housing societies situated in the proximity of commercial districts, and those having high-end