Financial Express-As rents surge, homeownership becomes more attractive: Magicbricks
Rental values across key Indian cities have surged significantly, making renting increasingly unaffordable for end-users. The Rent to Price Growth Differential (RPGD) by Magicbricks indicates that cities where rental appreciation has outpaced capital value growth—such as Mumbai (3.61), Greater Noida (2.27), Delhi (2.12), Chennai (1.76), and Ahmedabad (1.46)—are becoming costlier for tenants.
As rents soar, more tenants may be encouraged to reconsider homeownership as a more financially-viable alternative. According to the report, in Q4’ 2024 alone, average rents increased 4.1% QoQ and 18.4% YoY to touch INR 37.27 psf per month as against INR 31.48 psf per month in Q4’ 2023. The increase is most evident in cities such as Greater Noida (36.3% YoY), Delhi (27.0% YoY), Bengaluru (23.2% YoY) and Noida (17.3% YoY).
