Mumbai: According to ANAROCK’s latest data, capital values in India’s top seven cities have surged ahead of rental growth from 2021 to 2024, with Noida’s Sector-150 leading the charge. Capital values here have skyrocketed by an astonishing 128%, while rental prices have grown by 66%, setting a new benchmark in the real estate market.
Key cities like Hyderabad, NCR, Bengaluru, and Mumbai Metropolitan Region (MMR) have all seen capital appreciation outpacing rental hikes. However, there are exceptions—areas in Pune, Kolkata, and Chennai where rental values have risen faster than capital prices.
In Bengaluru, Thanisandra Main Road saw a solid 67% jump in capital values, compared to a 62% rise in rentals. On Sarjapur Road, however, rentals shot up by 76%, surpassing the 63% increase in capital values. Similarly, Hyderabad’s HITECH City and Gachibowli experienced impressive capital growth, with HITECH City seeing a 62% rise and Gachibowli a 78% surge, while rental growth in these areas was more moderate at 54% and 62%, respectively.
In the NCR region, Sohna Road saw capital values grow by 59%, while rentals increased by 47%. Sector-150 in Noida stole the spotlight with a massive 128% jump in capital values, outpacing rental growth of 66%. In Mumbai, both Chembur and Mulund saw capital values rise by 48% and 43%, while rents grew by 42% and 29%, respectively.
On the flip side, Pune, Kolkata, and Chennai bucked the trend. In Pune’s Hinjewadi, rentals climbed 57%, while capital values grew by only 37%. Kolkata’s EM Bypass saw rental growth of 51%, compared to just 19% in capital appreciation. In Chennai’s Pallavaram, rentals surged by 44%, while capital values grew by just 21%.
Anuj Puri, Chairman of ANAROCK Group, emphasizes that investors need to be strategic and location-specific. Cities like Noida and Hyderabad are ripe for those seeking capital appreciation, while rental-focused investors should target areas where rental yields are rising steadily.
For homebuyers, Puri advises weighing both property price trends and rental growth to make smarter decisions between buying and renting in these dynamic markets.
