NCR Drives Rental Demand as National Market Moderates: Magicbricks

20 Nov 2025 CW Team

Magicbricks has released its Rental Index for July–September 2025, showing a national market entering a phase of moderation after several active quarters. Average rents continued to strengthen, increasing 4.4 per cent quarter-on-quarter and 18.1 per cent year-on-year, even as tenant activity varied across major cities.

National rental demand rose slightly by 0.2 per cent, while supply increased by 0.6 per cent, indicating a gradual alignment between available listings and tenant interest. Delhi–NCR stood out, with Greater Noida recording a sharp 29.5 per cent rise in demand, followed by Delhi at 17.8 per cent and Noida at 10.8 per cent. Kolkata also posted steady traction, while cities such as Chennai, Bengaluru, Hyderabad, Pune and Mumbai saw softened demand.

On the supply side, Delhi registered the strongest increase at 17.6 per cent, reflecting a broader trend towards market balance. Rents continued to climb, with Thane leading at 12.5 per cent, followed by Chennai, Mumbai and Delhi. Magicbricks CMO Prasun Kumar said infrastructure upgrades and improved connectivity were sustaining NCR’s momentum, while national moderation suggested improved affordability and predictability for tenants and investors.

Tenant preferences remained stable, with two-bedroom homes accounting for 44 per cent of demand and semi-furnished units dominating supply. Mid-sized homes between 500 and 1,500 sq ft continued to attract the majority of renters nationwide.

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