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Residential Rents To Go High By 20% In Bangalore

According to a report submitted by 99acres.com, the residential rents in Bangalore are going to hike by 20% in the last one year. The web portal uploaded that three-bedroom residential apartments have observed a steep growth in rentals in Q1 of this fiscal compared to the last fiscal year.

Bangalore Tech Park attracts new people to the city each year looking for jobs

Bangalore Tech Park attracts new people to the city each year looking for jobs

As many of the people are moving towards the tier I cities that’s why the rental residential areas are on high demand. In the last 12 months the rate is going high, reported by the Vineet Singh, Business Head, 99acres.com.

According to Vineet Singh, this rate is going to be higher in the upcoming 24-36 months. In Bangalore East, Indiranagar observed a 20% hike in rental charges, whereas Brookfield saw a 22% rise in rental charges.

In South Bangalore, Electronic City is observing 25% of hike in the rents in residential areas. In Bangalore North, Sanjay Nagar is seeing the hike of 25% in rents.

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