Ahmedabad Clocks The Highest Rental Returns As Property Prices Continue To Climb: Magicbricks
ABP NewsThe Indian rental market has seen a major increase in the average gross rental yield across major cities, a report compiled by Magicbricks revealed. The average rental returns in the country reached 3.62 per cent in 13 major cities, with Ahmedabad leading the list with the highest rental yield of 3.9 per cent, the survey revealed. The study found that the average real estate prices in Ahmedabad touched Rs 5,927 per square foot, while the average rent in the city climbed almost 17 per cent to touch Rs 19.35 per square foot in comparison to a year ago period. Meanwhile, Chennai also reported a notable rise of 21.3 per cent in rental returns on a sequential basis, while Delhi clocked a decent hike of 8.8 per cent. The metro reported a 28.2 per cent gain in average monthly rents to Rs 25.17 per square foot, while property prices managed a meagre climb of 6.2 per cent to Rs 8,188 per square foot on a year-on-year basis.