Residential rentals in Bengaluru’s prominent areas soared by over 30% in the first nine months of 2023. Hyderabad witnessed the second-best rental value growth with key markets in the city seeing up to 24% growth in this period.
Landlords in the city, often referred to as India’s Silicon Valley, now charge the highest proportion of their property’s value as rent, edging out financial centre Mumbai, according to data from market researchers
Bengaluru, the capital of Karnataka state is home to over 1.5 million workers including those for global firms like Alphabet Inc.’s Google, Amazon.com Inc., Goldman Sachs Group Inc. and Accenture Inc.