Delhi-NCR Rent Soars 18% for 2BHK Flats: Magicbricks

New Delhi, Feb 28 (PTI) Landlords in Delhi-NCR quoted an average 18 per cent higher rent for 1,000 square feet apartment during latest December quarter on Magicbricks property portal.

In its report, Magicbricks said that "asking rents by landlords in NCR have increased 18.4 per cent YoY (year-on-year) during October-December 2024.

The average asking rent, the rate quoted by landlords, for a 2BHK home rose to Rs 28,439 per month from Rs 24,956 per month.

Within Delhi-NCR, asking rents for Delhi surged 27 per cent to Rs 40,265 per month from Rs 31,708 per month.

Landlord asked 13.3 per cent higher rent at Rs 33,523 per month for a 1,000 sq ft 2BHK unit from an average Rs 29,591 per month.

Noida continued to emerge as a relatively affordable area within NCR with the average asking rent increasing 17.3 per cent YoY to touch Rs 22,089 per month.


Within Delhi, Magicbricks said that Greater Kailash emerged as the most expensive rental locality, with landlords asking an average of Rs 59,400 per month for a 2BHK home and Rs 1,14,300 per month for a 3BHK unit.

Other premium rental markets include CR Park (Rs 45,700 per month for a 2BHK) and VasantKunj ( Rs 42,200 per month for a 2BHK).

Meanwhile, Dwarka (Rs 22,600 per month for a 2BHK), Pitampura (Rs 23,100 per month), and Saket (Rs 27,200 per month) were identified as relatively affordable rental markets in the national capital for renting 2BHK units.

In Gurugram, areas such as Sector 65 (Rs 57,700 per month), DLF Cyber City (Rs 57,000 per month), Nirvana Country (Rs 50,000 per month) displayed high rents. However, asking rents in South City 2 (Rs 37,800) and Sector 49 (Rs 31,800 per month) were relatively more affordable.

While landlords have increased rents in Noida as well, it continued to be relatively more affordable, starting as low as Rs 17,000 per month in Sector 151 (for 2BHK).

Areas with increasing supply such as Sector 137 (Rs 25,800 per month), Sector 70 (Rs 27,000 per month) and Sector 150 (Rs 24,700 per month) also offered relatively more affordable rental options from landlords.