 "Real estate")
Rental yields in housing properties located at Gurugram and Noida have improved over the last few years and stood at 4.1 per cent and 3.7 per cent, respectively, during the latest March quarter, according to Anarock.
Rental yield is the annual return on investment (ROI) investors earn from capital invested in a property.
Real estate consultant Anarock report mentioned that there has been a steep rise in rental housing demand in the top cities. As a result, average rental values have soared and rental yields have been heading steadily north.
The Anarock data showed that Bengaluru tops the list with a rental yield of 4.45 per cent during January-March 2024.
Bengaluru's rental yield in pre-Covid 2019 stood at 3.6 per cent.
Mumbai comes next among the top cities with a rental yield of 4.15 per cent in the first quarter of 2024 as against 3.5 per cent back in 2019.
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Gurugram is close behind with a rental yield of 4.1 per cent against 3.5 per cent in 2019.
As per the data, the rental yields in Noida have improved to 3.7 per cent from 3.2 per cent. In Delhi, the yield has improved to 2.9 per cent from 2.2 per cent.
Pune saw a growth in rental yield to 3.85 per cent from 3.3 per cent.
In Navi Mumbai, the rental yield improved to 3.4 per cent from 2.8 per cent, while the yield in Thane moved up to 3.25 per cent from 2.7 per cent.
Kolkata too saw an improvement in rental yield to 3.8 per cent from 3.3 per cent.
Rental yields in Hyderabad rose to 3.2 per cent in January-March 2024 from 2.6 per cent in 2019, while the yield in Chennai improved to 3.1 per cent from 2.7 per cent during the period under review.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
