Avg monthly rent in north, east Bengaluru rises up to 24% in Jan-Mar: Anarock

New Delhi: North and east Bengaluru have witnessed maximum appreciation of up to 24 per cent in average monthly rent for a 1,000-square feet two-bedroom apartment in the last one year among seven major cities, according to property consultant Anarock.
In its report released on Thursday, real estate consultant Anarock said that Thanisandra Main Road and Marathahalli-ORR in Bengaluru recorded highest residential rental growth of 24 per cent each year-on-year in January-March period for a standard 2BHK home of 1,000 square feet area.
Whitefield and Sarajpur in Bengaluru were at second and third positions with 21 per cent and 20 per cent growth, respectively, in rental between January-March 2022 and January-March 2023.
The consultant said that areas in east and north Bengaluru have seen a spurt in rental demand.
Bengaluru currently has the highest rental yield of 4.1 per cent among all major cities, followed by Mumbai with 3.9 per cent.
Prashant Thakur, Sr Director & Head – Research, Anarock Group, said, “When it comes to rental demand and zooming rents, Bengaluru currently stands out among the top 7 cities, with east and north Bengaluru the biggest blips on the rental radar map owing to the IT/ITeS belt there.”