Rents go skyrocketing in Hyderabad Secunderabad

House rents are skyrocketing in twin cities, thanks to the influx of people of other areas in search of employment. An estimated 500 families migrate to the city every day.

The city is unable to accommodate the influx, and this is leading to a big demand for houses. Owners are hiking rents by 100 per cent and still finding takers. The monthly rent of a double bedroom flat is around Rs 12,000 in areas like Madapur, Gachhibowli, Serlingampalli and nearby areas. Ever-rising rents are common in localities adjacent to IT, ITES and BPO companies. The rent is around Rs 15,000 depending on the space and construction quality in posh localities such as Banjara Hills and Jubilee Hills.

Tenants are charged Rs 6,000 to Rs 8,000 in areas like Kukatpally, Ameerpet, Srinagar Colony, Khairatabad, Malakpet, Dilsukhnagar, Tarnaka among others.

Realtors expect the rents to go up further with increase in the cost of apartments. According to them, a double bedroom flat cost Rs 10 lakhs in many areas up to 2004. Now it is difficult to buy an apartment for Rs 20 lakhs even on the outskirts.

Middle class sections are hit badly. "I am forced to pay Rs 4,000 for a small house in Rajnagar Makta near Khairatabad. We cannot make ends meet if the rents go up," said Mr Y. Kishore, an employee.