April 22, 2015

Rents getting too high? Consider buying a home

Akansha Narang and family pay Rs 30,000 for a rented accommodation in Kormangala. Her landlord has just agreed to extend the lease contract and increased the rent by Rs 3,500 per month owing to an increase in housing demand in the last few months.

While residential real estate across top cities registered some amount of inaction, lease market is said to have fared better. This means while prospective buyers were waiting and watching for say a Budget 2015 session to talk decisively about tax rebates, housing finance, etc., there were people altering choices for some time and upgrading their addresses.