Jun 28, 2017
India's software and services hubs are expected to witness a 10-20 percent reduction in housing rents over the next three-quarters beginning July, as the IT sector experiences a slump. Tenants are seeking better options and no hike in the monthly outgo, quoting the adverse industry state. With better options, the market is tilting in favour of the tenants, especially those paying rent above Rs 50,000 per month. Going forward, the rentals may ease at least by 10-15 percent in Bengaluru, Chennai and Hyderabad, while the decline may be steeper, up to 20 per cent in Pune, in the next three-quarters.