What Is The Average Rent For A 3 Bedroom House?

Hi Sahil, it would’ve been helpful had you shared a city and a locality for which you want to know the average rent for a 3 bedroom house. The rent for a 3 BHK is determined mainly by the location and the actual property. I would like to tell you an overall rental range for Bangalore, as I have been exploring 3 BHKs here. 

So, the range for a 3 BHK is between Rs. 25,000 to Rs. 40,000 on average, but you can expect prices going over Rs. 40,000 easily for premium properties. 

You can find 3 BHK homes within the following categories in Bangalore:

1. Premium Localities and Premium Apartments: These cost the highest, crossing Rs. 70,000 per month in rent at times. You will see apartments in gated societies with lavish features.

2. Premium Localities and Standalone Apartments: These are a little difficult to find as standalone apartments are less in premium locaitions. But the rent is significantly less, touching Rs. 40,000 at max on average, depending on the property condition.

3. Other Localities and Premium Apartments: These are also less in number right now as builders focus on premium apartments in premium locations. But the rent of these apartments is also more than the average range, still less than the ones in premium locations.

4. Other Localities and Standalone Apartments: These will have the lowest rent, even going below Rs. 25,000 if you are lucky, based on the apartment conditions.

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Finding a new apartment to rent can be difficult, especially when costs can vary greatly from one house or neighbourhood to another. An average 3 bedroom house price is influenced by a variety of elements.

• Location:

There is no way to avoid this. The location of a property affects its pricing whether it is for sale or rent. The location will determine the target market, average demand, and base rental rate. In general, homes in a more upscale neighbourhood, like one by the beach or in the centre of the city, are more likely to command a higher price.

Due to their location, some areas will always have high rent. 

• Population:

Supply and demand are directly related to this. Cities with higher population densities typically have higher rental rates, while smaller cities typically have lower rent prices.

• Property’s age:

The value of a home as a rental is also influenced by its age and level of maintenance. A brand-new home in a desirable location with consistent demand will undoubtedly command a premium rental rate. The rental price may remain stable over time or even increase if the older property is well-maintained.

• Property’s Features and Facilities:

The size of a unit affects its rental price. The rental cost is also influenced by the number of bedrooms, the size of the living area, and the total square footage. Renters who are picky will also take into account the quality of the fittings and finishes, the colour palette, and how recently the home has undergone renovations or been vacant.

• Accessibility:

More people would be interested in purchasing residences close to the city centre or popular areas than those farther away.

• Budget:

Between location and budget, I would prioritise the latter. The location and kind of property you can rent will be determined by it. Having the best of the best is truly pointless if it doesn't benefit your finances.

Talking about budget, let us know, 

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I would like to conclude here as I believe this answer satisfies your query about the  average 3 bedroom house price in Mumbai, Pune, Bangalore. I hope this helps:)

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