Housing.com, part of Elara Technologies Pte Ltd, which also owns PropTiger.com and Makaan.com, today unveiled the key insights on the house renting pattern. The research was conducted to understand the home seeker’s disposition towards renting houses across top 7 cities in India including Mumbai, Gurgaon, Bengaluru, Chennai, Kolkata, Hyderabad and Pune.
A massive part of India’s population resides in rented homes. With increased exposure to global housing standards and frequent movement across cities for employment and education, the Indian rental housing consumer is becoming more demanding of the value his or her money buys in a rental home. Based on insights drawn from the traffic witnessed on Housing.com, this data reveals various considerations that a home seeker sets out before renting a property.
Key highlights from the findings
- 1BHK rental housing units are the most preferred choice for more than 57% of home seekers in Mumbai, Gurgaon, Bengaluru and Pune. However, more than 40% home seekers prefer 2 BHK in Chennai, Kolkata and Hyderabad
- More than 61% of people prefer renting an apartment toan independent floor or house. Interestingly, in Gurgaon and Bengaluru, 30% and 26% of home seekers respectively, prefer renting an independent floor and 25% of people prefer renting an independent house in Kolkata
- Bengaluru, Chennai, Kolkata and Hyderabad have more than 85% of tenants opting to live in unfurnished homes. However, in cities like Gurgaon (44%), Mumbai (27%) and Pune (13%), people give preference to furnished homes as well
- More than 38% of people in cities such as Gurgaon, Bengaluru, Kolkata, Hyderabad and Pune, prefer renting a house in a new building (2 years old). However, 30% of home seekers in Chennai are comfortable with renting a house, which is 5 to 10 years old followed by 28% in Mumbai
Top localities and desired price range
- The top 5 localities for renting a house in the city include Thane West, Andheri West, Airoli, Andheri West and Goregaon West
- Sector 24, Sector 43, Sector 47, Sector 48 and Sector 49 are the top 5 preferred localities for renting in Gurgaon
- Top preferred localities in Bengaluru are Koramangala, JP Nagar, HSR Layout, BTM Layout and Marathahalli
- Velachery, Mogappair, Perambur, Choolaimedu and Kodambakkam are the top 5 localities, which people prefer while renting a house in Chennai
- The top 5 renting localities in Kolkata include New Town, Dum Dum, South Dum Dum, Behala and Garia
- Preferred localities for renting a house in Hyderabad areKukatpally, Miyapur, Banjara Hills, Kondapur and Manikonda
- The preferred localities for rental in Pune include Kothrud, Pimple Gurav, Kharadi, Hadapsar and Baner
- More than 44% people prefer renting a house within Rs. 10,000/- in Chennai, Kolkata and Hyderabad. However, in Mumbai, Gurgaon, Bengaluru and Pune, more than 42% people prefer the price range of Rs. 10,000 to 20,000 for rent