A rent crisis in India is crushing hopes and dreams
April 22, 2024 | By: India Today | Source Link
House rents, which have been stagnant since the pandemic, started zooming since mid-2023. While rents usually go up 10 per cent annually, landlords in several cities have increased rents by up to 50 per cent a year. Why is India seeing a housing rent crisis that is playing havoc with the lives of people?
Axis Ecorp CEO and Director Aditya Kushwaha said Bengaluru has cemented its status as the country’s “hottest residential market” and acknowledged that rents have nearly doubled since the beginning of 2023.
