8% annual increase in office rental prices in Hyderabad
Hyderabad: According to the latest data published by ANAROCK Research, the average monthly rental price of offices in Hyderabad has experienced an increase. The city recorded an annual growth of 8 percent, making it second only to Chennai, which grew by 10 percent in the same period.
The data showed that the average monthly rental price of offices in Hyderabad increased by Rs 61 per square metre. The pie in the first half of FY2023 will be around Rs 66 per square metre. Pai in the period corresponding to the financial year 2024.
Prashant Thakur, regional director and head of research, Grupo Anarock, highlighted: “Interestingly, average rental values across 7 core cities increased by 7 per cent in H1FY24 compared to the same period last fiscal. Increase was observed. 23. This increase is mainly due to increase in the cost of manufacturing and consumption.
He also said that the rental prices of Grado offices are on an average Rs 83 per square metre. The pie in 7 main cities in the first half of FY2024 compared to around Rs 77.5 per square meter per month. Pai in the period corresponding to FY 23.
This contrasts with generalized expectations of a decline in demand for commercial office space due to the global recession and reduced business volumes from large corporations, Thakur pointed out.
However, the report also highlights a 2.6 per cent increase in the level of vacant office space in Hyderabad during the financial year. Additionally, the report highlighted that Hyderabad overtook Bengaluru with the largest inflow of new office supply in H1FY24.
Office Market Rent (INR/sq.ft/month)
Bengaluru: Rs 84 (1st semester of FY23); Rs 80 (H1FY24): Change percentage: 7 percent
MMR: Rs 130 (Primer Semester of FY 23); Rs 136 (First Semester of FY 24): Percentage Change: 5 percent
NCR: Rs 81 (1st semester of FY23); Rs 85 (H1FY24): Cambio percentage: 5 percent
Chennai: Rs 62 (1st semester of FY 2020); Rs 68 (H1FY24): Change percentage: 10 per cent
Hyderabad: Rs 61 (1st semester of FY23); Rs 66 (H1FY24): Cambio percentage: 8 percent
Pune: Rs 74 (1st semester of FY23); Rs 79 (H1FY24): Change percentage: 7 percent
Calculation: Rs 54 (Primer Semester of FY 23); Rs 58 (H1FY24): Cambio percentage: 7 percent
7 main cities: Rs 78 (1st semester of FY23); Rs 83 (First Semester of FY 24): Percentage Change: 7 percent
