Salaried class average house rent budget at Rs 16000 per month

Salaried class average house rent budget at Rs 16000 per month

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NEW DELHI: The average budget of the salaried class looking for a house on rent is around Rs 16,000 per month, while students are ready to spend around Rs 11,000 a month, according to realty portal Makaan.com. “Of all those who are looking for a rented house across Indian cities, over 69 percent are salaried employees, while 16 percent are self-employed and 15 percent are students. Most tenants would like to move in within a week after selecting a house,” Makaan.com said in a statement.

The study is based on an analysis on home renting trends by mProfile, personalized service for landlords and tenants on Makaan.com, which is a part of Elara Technologies that owns Housing.com as well as PropTiger.com.

The data is from all major housing rental markets in the country. “With 40 percent salaried class looking for the rental of Rs 10,000 or less and about the same percentage between Rs 10,000 and Rs 25,000, the average rental budget stands at around Rs 16,000 across cities,” it said.

In students category, about 45 percent are ready to sell a rental of Rs 7,500 or less per month and about 30 percent are willing to spend between Rs 7,500 and Rs 15,000 per month. The average rental budget stands at around Rs 11,000 across cities. The national average reflects that most tenants plan to live for at least a year in their new rented places. Tenants prefer online mediums to shortlist their homes before making a visit to the physical sites.

While over 66 percent of tenants looking for rented homes are men, 30 percent are women. Over half of those looking for rented homes are non-vegetarians, while about 49 percent are vegetarians. Over 61 percent of landlords have set no specific choice as to who they are more willing to rent their property. Nationally, only over a third of them have stated a preference for families. Majority of landlords want the only 1-2 person(s) to occupy their rented place and only 24 percent prefer to rent to a group consisting of more than four members.

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