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The Hindu
13-06-2025
- General
- The Hindu
Gurugram's power demands clock season's highest
The Gurugram Circle 2 of Dakshin Haryana Bijli Vitran Nigam (DHBVN) recorded the season's highest power consumption at 322.75 lakh units on Thursday. It is a spike of over 14.05% from the 283 lakh units consumed the same day (June 12) last year. With the mercury levels soaring across the State over the past few days, the DHBVN's Delhi zone comprising Faridabad, Palwal, Gurugram, Narnaul and Rewari recorded consumption of 1024.73 lakh units, breaching the 1,000-mark for the first time this season, on Thursday. This is an increase of 4.58%, over 979.86 lakh units the previous day. The DHBVN's Hisar Zone comprising Hisar, Jind, Sirsa, Fatehabad and Bhiwani consumed 503.34 lakh units on Thursday with an increase of 1.29% over 496.94 lakh units the previous day. DHBVB spokesperson Sanjay Chugh said despite the spike in power demand, the corporation had supplied power for 23.83 hours and 23.5 hours to Gurugram Circle 2 and 1 urban areas respectively. The supply to the industrial areas of Gurugram had been for 23.5 hours on an average for both circles. However, frequent outages were reported from parts of Gurugram with residents taking to social media to express their frustration. '@DHBVNL Thank you for 3 minutes of electricity which you provided in this harsh summer after a long power cut of more than 2.5 hours before imposing another power cut in DLF phase 3, Gurugram. It was too much of a kindness from Haryana Electricity Board. 1 minute was enough. (sic),' read a post by Rajesh Singh on X. Yet another post by Divya said: 'The worst part about summers in Gurgaon? The electricity board @DHBVNL seems to go into deep sleep just when you call with a grievance - clearly unbothered by the fact that you are spending a sleepless night in unbearable heat with power cut, only to wake up early for work tomm (sic).' Mr. Chugh said the Residents' Welfare Associations were duly informed in case of scheduled power cuts to carry out any repair work, but small duration outages were sometimes caused due to unexpected faults in feeder lines or transformers due to overload and excessive heat.
Time of India
03-06-2025
- Business
- Time of India
In Chennai city, the search for home gets pricey
1 2 The rental squeeze is no longer just a core-city story. In Velachery, a modest 1BHK in an apartment complex with elevators and other amenities now rents for 22,000, nearly double what it cost two years ago. In Sholinganallur, rents have crept past 30,000, and even suburbs like Pallavaram, Ambattur, and Perambur are no longer 'affordable'. Be it the traditional hotspots like Adyar and Anna Nagar, or the growing suburbs like Pallavaram, Perungudi, and Madhavaram, rents are surging across Chennai. With school admissions underway and offices demanding in-person attendance, families and professionals alike are scrambling for homes, only to find landlords upping the stakes mainly due to an increase in land value, a spike in property tax, and improved connectivity. "I moved into a 1BHK at T Nagar last year for a rent of 12,000. Since it is manageable, and close to work, I didn't mind the rent. A year later, my friend rented a house, and she is paying nearly 19,000 for a similar unit," explained Nisha Krishnan, who had moved to Chennai from Coimbatore. According to real estate consultants, rents in Chennai increased by 20%–25% over the past two years. Some localities witnessed a jump of 30% or more. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Promoções imperdíveis de voos baratos Voos | Anúncios de Pesquisa Saiba Mais Undo "Gated communities, in particular, are leading this surge, charging 7%–8% higher rents than standalone buildings," said Sanjay Chugh, city head, Chennai, Anarock Property Consultants. He said Chennai recorded the steepest rental growth among major Indian metros in Q3 2024 — a 22.2% quarter-on-quarter rise in per sqft rental values. "A major contributor for the hike was slowdown in new construction activity, largely stemming from pandemic-related disruptions. This limited supply, coupled with sustained demand, led to a sharp rise in rental prices. However, with fresh housing supply gradually entering the market, rental inflation has now eased to single digits after nearly three years of steep increases," said Saurabh Garg, co-founder and chief business officer of NoBroker. Another key factor is the shift in workplace dynamics. "As companies scale back remote work policies, many professionals are returning to Chennai. Furthermore, the city's emergence as a prominent hub for Global Capability Centres (GCCs) — with more than 250 centres employing more than 150,000 professionals — has significantly amplified the need for quality rental accommodations near these employment clusters," he added. Premium areas like T Nagar, Adyar, and Besant Nagar remain in high demand, but suburban pockets are seeing the sharpest rental inflation. In places like Pallavaram and Perambur, rents jumped 33%–40%. Along Old Mahabalipuram Road (OMR), Sholinganallur, and Velachery — where IT offices, coworking spaces, and colleges cluster — the rent for 1BHKs now ranges between 18,000–30,000. In Vadapalani, a 2BHK in the arterial area can cost upwards of 45,000. What's more, furnished flats and short-term leases are gaining popularity, especially among landlords who want flexibility to adjust rents more frequently. "There's high demand for move-in ready homes, and tenants are willing to pay a premium for convenience," said Giriraj, a broker based in T Nagar. S N Srikanth, a member of Chennai Real Estate Agents Association, said there is still demand for rental houses in the core city due to the presence of schools and colleges, but the supply is not matching. "This is also triggering a spike in rent. Besides, property tax has been increased, and this has a cascading effect on the rents too," he said. With rentals eating up a larger portion of monthly incomes, tenants are adapting. Many are moving further from the city centre in search of affordability. Students and single professionals increasingly prefer co-living or shared housing over hostels, expanding the tenant pool in places like Tambaram, Kolathur, and Chromepet. "Velachery has become a hub for co-living spaces. Apart from this, Pallavaram Radial Road, Pallavaram, and other suburban areas are also booming," said Suresh Rangarajan, founder of Coliv.
The Hindu
20-05-2025
- Business
- The Hindu
Residential rentals soar high in Chennai
In recent years, the residential rental market in Chennai has experienced notable fluctuations, with prices soaring by 20-25% over the past two years. Certain areas have witnessed even steeper hikes, with rental rates escalating by as much as 25-30%. Gated communities and modern apartment complexes have also seen accelerated increase in rental prices, charging 7-8% more than their non-gated counterparts. Sanjay Chugh, director and city head, Chennai, Anarock Property Consultants Private Limited who has been tracking Chennai's real estate growth for several years now, said, 'Chennai's residential rental market has experienced significant growth since the last two years, particularly in mid-segment and suburban areas. In the third quarter of 2024, Chennai recorded the sharpest rental hike among major Indian cities, with rents soaring 22.2% quarter-on-quarter from ₹17.94 to ₹26.91 per square foot.' He added, 'The surge in rental prices is attributed to several factors, including a property tax hike, the end of widespread work-from-home arrangements, and the city's industrial growth.' 'Overall rent inflation in Chennai was 18% from 2022 to 2023. From 2023 to 2024, it was 8%. Abiramapuram, Nungambakkam, T Nagar, Alwarpet and Adyar are the prime locations in Chennai that have seen the highest rental growth,' said Saurabh Garg, co-founder and CBO of NoBroker. 'Localities such as Tiruvanmiyur, Perungudi, and Palavakkam have experienced the highest spike. Rents have gone up by approximately 9-11% in these areas,' he added. Adyar, Anna Nagar, T. Nagar, and Besant Nagar — These upscale neighbourhoods continue to command premium rents due to their established infrastructure, educational institutions, and lifestyle amenities, Mr. Chugh pointed out. According to Mr. Garg, 'The conclusion of widespread work-from-home policies has also compelled many employees to return to Chennai, increasing the demand for rental accommodations near workplaces.' In 2023, prime areas like T. Nagar, offered 1BHK (Bedroom, Hall, Kitchen) houses for rent between ₹8,000 and ₹12,000 per month. Now, the rent for a 1BHK in this area ranges from ₹15,000 to ₹20,000 per month, excluding car parking and maintenance charges. The cost of a 2BHK at prime locations in is anywhere between ₹25,000 and ₹60,000. Saravanan, a real estate agent said at Vadapalani, the cost of a 1BHK is anywhere from ₹15,000 to ₹20,000, while the cost of a 2BHK starts at ₹30,000. In gated communities, the rents are anywhere around ₹45,000 to over a lakh. 'If you're looking for a house near the metro line or Forum Mall, the rent tends to be quite high. However, if you're open to locations like Kodambakkam or the interior areas of Vadapalani, you can find more affordable options,' he said. Properties along Old Mahabalipuram Road and in Sholinganallur have experienced significant rental hikes, driven by the growing presence of IT firms, start-ups, and a rising student population in the area. A real estate agent in this area mentioned that, in the past, students preferred staying in hostels within college campuses or nearby. However, nowadays, many of them are choosing to rent individual houses or apartments with their friends. Ditto is the trend in Tambaram and Velachery zones. Rentals on OMR which were hovering around ₹15,000 to ₹20,000/month for a 1 BHK is now at ₹18,000 to ₹30,000/month. Mr. Chugh said that in Pallavaram rental values grew by 40%, while capital values rose by 18%. 'At Perambur, rental values increased by 33%, with capital appreciation at 18%. At Central Chennai: high-end rental values remained stable, ranging from ₹1,00,000 to ₹2,50,000 per month, with minimal year-on-year changes,' he said. ''The upward trajectory in Chennai's rental market is expected to continue, especially in suburban areas, due to ongoing infrastructure projects like metro rail expansions and the city's growing appeal as an IT and industrial hub. However, the high-end segment in central locations may see more stable rental values, given the already premium pricing. Apartments are witnessing the maximum demand from occupiers, followed by villas and independent houses,' he said. Real estate experts further said that the prices were only bound to increase more when the metro and other infrastructure projects in the city would be nearing completion.
