Soaring house rents: Secure longer-tenure lease agreement of 3 to 5 years

Incorporating an annual 5-7% rent hike clause in rent agreement will ease concerns


Karthik Jerome New Delhi

Listen to This Article

Rental rates in major cities increased 10 per cent to 31 per cent year-on-year in 2023, according to a study by With the market unlikely to cool soon, prospective tenants need to adopt smart strategies to mitigate the impact of rising rents.

Experts attribute the rise in rentals to a variety of factors. “The recent surge may be attributed to a strong desire for urban living, supply constraints due to construction delays, and price rise,” says Anshuman Magazine, chairman & chief executive officer (CEO) for India, South-East Asia, Middle East & Africa, CBRE.

In Covid-19, the supply of new

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 09 2024 | 3:29 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to