15% increase in house rent in Chennai

15% increase in house rent in Chennai;WFH finished…. As the number of COVID case decreases, the situation returns to normal, hence the IT staff requested to return back to the office. According to Repost, the rent of houses in Chennai is increasing rapidly by 15%. Check details here.

Many people have lost their jobs due to COVID-19, so they are not able to support their families. The residents who rented the property lost their jobs, and the 3-month advance they had already contributed was deducted.

Many people who could not afford rent in Chennai left and returned to their hometowns as a result. The number of people infected with the coronavirus is decreasing. In addition, due to the low virulence of the virus, business and the economy are rapidly returning to normal. Indian IT workers are doing work from home for the last two years due to Corona, Omicron disease.

There are many IT companies in Chennai. Most of the apartment buildings in Chennai are managed by IT firms. For the last two years, all these IT corporations that have occupied Chennai to such an extent are silent. This is because the Orc Pram Home was established to ensure the safety of all the people working there. That is, businesses arranged for employees to work from home. As a result thousands of salaried workers have returned to their hometowns. As a result, most multi-storey dwellings started putting cards with the phrase “too late” on them. Before the wave of Corona, it was difficult to get a house for rent in Chennai. Accommodation could only be purchased through a broker.

After Mumbai, Chennai is the second highest rented city in the country. As properties have been vacant for a long time and people have started returning, housing rents in Chennai have only increased by 15% in the last year. Significantly, during the Corona period, there has been a significant increase in rent due to the construction and completion of under-construction properties. One third of those looking for a place to rent are asking for at least Rs 20,000. 37 per cent of people looking for a rental home want to pay between Rs 10,000 to Rs 20,000 per month. According to the report, 23 per cent people are expected to pay a rent of Rs 20,000 to 30,000. According to Demand for Apartments, a private company, 45 per cent of the people are looking for a place to live.

According to a study conducted by Demand for Apartments, 45 percent of consumers choose two-bedroom homes, 31 percent prefer three-bedroom homes, and 19 percent prefer one-bedroom homes. According to the study, 53 percent prefer semi-furnished homes and 69 percent prefer apartments.

Many people from different cultures are working and moving in Chennai. Some came for jobs and others to survive and settle in the area. Now 2 years later due to COVID being normal the house rent is not paid as many of them have lost their jobs. In this situation the situation becomes normal, all the houses were rented by the house owner by 15% and also worked from home.

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