No takers for their flats, owners slash rents for first time, Real Estate News, ET RealEstate

MUMBAI: A G Mehta never had a problem finding tenants for her flat near Andheri station. Regardless of the rent she demanded—the last time it went for Rs 32,000—the 450-sqft flat used to be snapped up quickly. The lockdown changed the whole dynamic. Struck by job losses and massive salary cuts, many tenants left the […]

Empty houses galore in Bengaluru, Real Estate News, ET RealEstate

BENGALURU: If you move about the city now, it will be quite common to see the boards ‘house for rent’ in most localities. Ever since Bengaluru has been in the grip of a pandemic, there has been a surge in vacant houses. Many house owners claim that they are trying to reduce the rent to […]

Tenants want Kerala government to bring rent regulations, Real Estate News, ET RealEstate

KOCHI: Despite the economic slowdown and the resultant job cuts and pay cuts, the rentals of city houses and apartments have not gone down, and people are struggling to find affordable housing. Many employees are reluctant to travel by public transport due to the fear of community spread of Covid-19 and hence are in search […]

Lawyers redraw rent agreements with new ‘lockdown’ clause after ‘disputes’ over payment, Real Estate News, ET RealEstate

MUMBAI: Property owners have begun inserting a lockdown clause in new agreements with tenants following disputes over payment of rent for the lockdown period. Fresh agreements being drawn up by lawyers mention that in case of a lockdown there will be no waiver of rent or mention a mutually agreed percentage of the rent that […]

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