Hi, Before I get into the details. I would like to shine a light on what are rental rates. The rental rates are periodic charges per unit for the usage of the property. This rate is ascertained on the basis of per square foot per year or per square foot per month, per room, per apartment basis.
There are a certain set of factors that affect the rate of rent on a new property, such as the market value of the particular property, location, prevailing rental rates in the market, availability of amenities including cupboards, fans, kitchen appliances, balcony, and storage space, etc.
The properties priced below ₹6000 per square ft have an average rental yield of more than 3%, whereas properties priced above ₹6000 per square ft have rental yields between 2.4% and 3%.
For instance,
If your property is priced at ₹40 Lakhs, its rental value will range between ₹96000 and ₹120000 if the property is priced above ₹6000 per square ft. While an estimated rent will be ₹120000 if the property is priced below ₹6000 per square ft.
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I want to know the rate of rent on new property.
Ayana
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4 Year
2021-02-08T17:02:16+00:00 2021-02-08T17:02:16+00:00Comment
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