Of these, a substantial 88,267 agreements were completed through e-registration, highlighting the growing preference for online methods. The remaining 8,055 agreements were processed through traditional physical registration.  

A month-by-month breakdown reveals the following:

• January: 33,731 total registrations (30,957 e-registrations, 2,774 physical)
• February: 26,815 total registrations (24,256 e-registrations, 2,559 physical)
• March: 35,776 total registrations (33,054 e-registrations, 2,722 physical)

The data indicates a clear trend of increasing adoption of e-registration for rental agreements in Mumbai, likely driven by its convenience and efficiency.Sources and related content

Also Read: Rent agreements to have lockdown clause too

The post Mumbai’s Rental Agreements Increasingly Go Digital: 88,267 E-Registrations Recorded in Q1 2025 appeared first on Square Feat India.

Premium Property in Prime Location

The apartment is located in Lodha Marquise – The Park, a luxury residential project developed by Macrotech Developers Limited (Lodha Group). Spread across 7 acres, the project offers high-end living with seamless connectivity to Mumbai’s key business hubs, including Bandra-Kurla Complex (BKC) and Nariman Point.

According to IGR records, the apartment has a carpet area of 1,298 sq. ft. and includes two car parking spaces. The lease transaction incurred a stamp duty of ₹16,300 and registration charges of ₹1,000.

Strong Rental Yield

Sharma and his father, Gurunath Sharma, purchased the apartment in March 2013 for ₹5.46 crore. With the current rental deal, the property reflects a 6% rental yield.

The cricketer and his father also own another apartment in the same complex, which they bought in 2013 for ₹5.70 crore. This second property was leased out in October 2024 for ₹2.65 lakh per month.

Rohit Sharma’s Legacy On and Off the Field

Known as the “Hitman” of Indian cricket, Rohit Sharma holds several records, including the highest individual score in ODIs (264) and three double centuries in the format. As a captain, he has led Mumbai Indians to multiple IPL titles and played key roles in India’s ICC and Asia Cup triumphs. He has been honored with prestigious awards like the Arjuna Award (2015) and the Khel Ratna (2020).

Beyond cricket, Sharma’s strategic investments in real estate highlight his financial acumen, ensuring strong returns alongside his sporting success.

Also Read: Rohit Sharma Sells Villa for Less than He Bought it for

The post Rohit Sharma Puts His Mumbai Apartment on Rent for ₹2.60 Lakh Per Month appeared first on Square Feat India.

On January 1, 2025, Mumbai witnessed substantial activity in its property registration and rental sectors. By 5 pm, a total of 115 property registrations and 868 rental agreements had been processed, signaling a strong start to the year in terms of real estate transactions and rental market growth.

According to official data from the Inspector General of Registration, the breakdown of registered documents up until the specified time includes the following:

• 868 e-Registration of Leave and License Agreements: A significant number of rental agreements were registered, indicating a high demand for rental properties in the city.
• 115 Property Transfer Deeds: These registrations reflect the ongoing activity in the property sale and transfer market.
• 94 Deeds of Mortgage, Pledge, or Lien: These documents suggest continued financial activity in the real estate sector, with several properties being mortgaged or pledged.
• 50 Powers of Attorney: Legal documents granting authority for specific actions related to properties and agreements.
• 33 Release Deeds: These indicate property owners releasing claims or rights on certain assets.
• 31 Leave and License Agreements: Regular rental agreements that highlight the thriving rental market in Mumbai.
• 26 Reward Deeds: Legal records pertaining to rewards or compensation related to property.
• 17 Death Certificates: Official documentation, likely for inheritance-related property transactions.
• 10 Contracts or Contract Summaries: Various formal agreements registered, indicating ongoing business transactions.
• 5 Mortgage Deeds: These documents reflect further activity in property-related finance.

The data reflects a robust interest in both property transactions and rental agreements, with significant numbers of documents being processed for both residential and commercial purposes. The influx of e-registration for Leave and License agreements points to a vibrant rental market in Mumbai, which is likely to grow as the year progresses.

Mumbai’s real estate sector, known for its dynamic and fast-paced nature, continues to attract investors, homeowners, and tenants. As the city adapts to evolving needs in housing and commercial spaces, the steady flow of property-related registrations demonstrates the city’s resilience and demand in the real estate market.

This trend suggests that despite economic uncertainties or seasonal fluctuations, Mumbai remains a key hub for real estate activity in India.

Also Read: 52 project registration suspended

The post Mumbai Sees 115 Property and 868 Rental Registrations on Day 1 of 2025 appeared first on Square Feat India.

Chennai experienced the steepest rise, with rents surging 22.2% QoQ, from INR 17.94 per square foot (psf) in Q2 2024 to INR 26.91 psf in Q3 2024. Delhi and Thane also saw substantial increases, with Delhi’s rents rising 11.4% QoQ to INR 37.55 psf and Thane’s rents up by 10.9% QoQ to INR 33.10 psf.

According to the report, Mumbai remains the most expensive rental market, with an average rent of INR 86.50 psf per month, followed by Delhi at INR 37.55 psf and Navi Mumbai at INR 33.83 psf. In contrast, more affordable markets like Greater Noida (INR 15.48 psf), Noida (INR 21.32 psf), and Kolkata (INR 22.14 psf) offer lower rental rates.

Prasun Kumar, Chief Marketing Officer at Magicbricks, commented, “This year, rental demand has surged significantly, leading to the highest rent increase we’ve seen in the past eight quarters. Ready-to-move apartments are increasingly being bought for self-use, reducing the availability of rental properties. However, the growing supply of under-construction properties suggests that the market could stabilize in the coming quarters as more rental inventory becomes available.”

The report also highlighted a continued rise in rental demand, which grew by 14.8% QoQ in Q2 2024 and maintained steady growth of 2% in Q3. However, rental supply declined by 6.7% QoQ in the third quarter, exacerbating the supply-demand imbalance and driving up rental prices.

Additionally, the gross rental yields across the 13 cities averaged 3.62%, with Ahmedabad offering the highest yield at 3.9%, followed by Hyderabad, Kolkata, and Pune at 3.7% each. Chennai saw the largest increase in rental yields, rising by 21.3% QoQ, while Delhi, Hyderabad, and Navi Mumbai also reported solid gains of 8.8%, 5.4%, and 5.3%, respectively. However, Greater Noida, Gurugram, Kolkata, Mumbai, Noida, and Pune experienced declines in rental yields as property price growth outpaced rental increases.

Source: Magicbricks Research

City-wise Rental Data:

Also Read: Main Streets Lead Retail Leasing Growth in Q3 2024; Rentals Surge Amid Tightening Vacancies

The post Rents Surge 7.4% QoQ Across Major Cities, Rental Yields Increase to 3.62% appeared first on Square Feat India.

As per latest ANAROCK data, the average monthly rentals in the prominent luxury micro-markets across the top 7 cities increased anywhere between 8-18% in the last two years. Mumbai’s Worli saw the highest rental growth of 18% in the period – from INR 2 lakh per month in 2020 to INR 2.35 lakh in 2022 for luxury homes of minimum 2,000 sq. ft. area.

This was followed by Bengaluru’s Rajaji Nagar, which witnessed a 16% jump in the same period – from INR 56,000 in 2020 to INR 65,000 in 2022.

Anuj Puri, Chairman – ANAROCK Group, says, “Residential rental demand skyrocketed across the top cities in 2022 with schools reopening classrooms and most companies calling employees back to offices. Pent-up rental demand hitting the market has caused a demand-supply mismatch in many areas, resulting in monthly rental hikes. Also, post-Covid tenant preference has tilted towards large-size homes.”

“Most prominent luxury housing markets witnessed double-digit growth in rentals in the last two years,” says Puri. “Pre-Covid, average 2-year luxury rental increases at a given time were largely single-digit, between 5-7%.”

Capital Appreciation

Meanwhile, capital appreciation in these luxury markets remained in single digits (between 2-9%) in the last two years. Bengaluru’s Rajaji Nagar witnessed the highest capital appreciation of 9%, with average prices increasing from INR 5,698 per sq. ft. in 2020 to INR 6,200 per sq. ft. in 2022.

Top Luxury Hotspots – Rental vs Capital Price Changes

The luxury residential market has been on an upswing post the pandemic, with its overall sales share growing to about 14% in H1 2022. Even demand for rental luxury properties is on a high, resulting in growth in average monthly rentals.

Some of the prominent luxury markets in the top 7 cities that performed well in 2022 and may see further short to mid-term boosts:

• Bengaluru – the luxury residential hotspot JP Nagar saw avg. monthly rentals appreciate by 13% in 2022 over 2020, while capital prices in this period rose by 9%. Likewise, Rajajinagar saw rental prices rise by 16%, and capital prices by 5%.
• MMR – luxury rentals in Tardeo rose 15% in this period, while capital prices increased by only 3%. Similarly, in Worli, the average monthly rentals for a minimum 2,000 sq. ft. area home increased by 18%, while capital prices saw a mere 2% jump.
• NCR – rentals in luxury hotspot Golf Course Road increased by 11%, while capital prices saw a mere 3% rise. Likewise, Golf Course Extension Road saw rentals increase by 12% and capital prices by 5% in this period. 
• Chennai – luxury rentals in Anna Nagar rose 13% in this period, while capital prices increased by 5%. Similarly, in Kotturpuram, the average monthly rentals rose by 14% while capital prices rose by 4%.
• Hyderabad – the luxury residential hotspot Jubilee Hills saw avg. monthly rentals appreciate by 15% in 2022 over 2020, while capital prices in this period rose 6%. HITECH City saw a rental price rise of 11%, while capital prices increased by 7%.
• Pune – the rentals in Koregaon Park rose 14% in this period, while capital prices increased by 4%. In Prabhat Road, the average monthly rentals rose by 8% while capital prices rose by just 3%.
• Kolkata – luxury home rentals in Alipore rose 8% in 2022 against 2020, while capital prices increased by 4%. Similarly, in Ballygunge, the average monthly rentals rose 10% while capital prices rose by 3%.

Also Read: BKC rental deal for Rs 2.53 Crore per month

The post Top Luxury Housing Markets See Up To 18% Rental Growth in Last 2 Years appeared first on Square Feat India.

By Varun Singh

It is Diwali and we will also talk about positive aspects of real estate industry.

So in the month of October 2021, the sales that took place had surpassed home sales figures of October 2020.

But now as per an analysis of registration data by SquareFeatIndia it has come to the fore, that not just sales but also more rental deals took place in the month of October when compared to October 2020.

While taking about home sales, let’s discuss how many home’s were registered in October 2020, the number stood at 7928.

Whereas, in October 2021, the number of home sales registered stood at 8576.

Ok a lot has been spoken about home sales and the comparison between October 2021 and 2020.

Let’s now talk about the story that we are taking about.

There are two types of rental agreements that are registered with the state government’s Department of Registration and Stamps.

They are physical registration and e-registration

Physical Rental deals in October 2021, stood at 3087, the same in October 2020 was 2715.

Which clearly shows that even physical rental deals in October 2021 were more than that of 2020.

Not only this, e-registration of rental agreements stood in October 2021 at a total of 21158.

Whereas e-registration of rental agreement stood at a mere 19835 in October 2020.

This shows that more e-rental agreements were registered in October 2021.

More people took homes on rent in October 2021 than that of October 2020.

Leave and license agreements are registered with state department and even this generates revenue for the government.

For example via physical registration in October 2020 revenue generated was Rs 5.08 crore.

Which in October 2021 was 5.81 crore, via e-registration the revenue in this month stood at Rs 3.52 crore.

In October 2020 the revenue via e-registration of Rental agreements stood at Rs 3.11 crore.

Finally not just more agreements were registered in last month, but also more revenue was generated for the state government.

Also Read: At Rs 94 lac/month Is this North India’s Biggest Rental Deal?

The post More Rental deals took place in Oct 21 than Oct 20 appeared first on Square Feat India.

By Prakkash Rohira, Advocate, Bombay High Court

The Model Tenancy Act is an extremely updated and well-compiled law having its own expedited process for dispute resolution and irons out most of the issues between landlords and tenants, with its expedited dispute resolution process.

The Tenancy Act aims at resolving all rent-related issues concerning both residential and commercial properties, but excluding industrial premises.

Tenants and Landlords not in dispute need not worry as The Act Shall be binding upon tenancy Agreements entered into after the commencement of the Act, and all cases/disputes pending on the commencement of the Act shall be continued and disposed of in accordance with provisions of existing State Rent Control Act. 

The primary focus of the Tenancy Act appears to not side either the landlord or the tenant but is actually designed to punish the violator of the generic provisions of the Contract.

It appears to be very specific and punitive to the violators of the term of the tenancies created as per the Act.

Some of the features are as follows:

1. The Act Establishes A Rent Authority, who within 3 months of appointment shall develop an online platform, wherein Rent Agreement shall be submitted and registered authority agreement shall be in writing, also inform the authority as per specified form, within 2 months from the date of the agreement, and Unique Identity Number shall be given to the Parties. All such information is to remain recorded with the Authority.

2. The Agreement must be in writing and shall be treated asconclusive proof. Both Parties are to hold one original copy each of the Agreement.

3. The Act Recognizes Real Estate Agents as “Rental Agent”. The Act has also widened the definition of landlord and tenant from earlier interpreted terms, largely to include legal heirs, and has categorically recognized “Property Managers” as well.

4. The Tenancy shall be for a fixed period of time. The Tenancy can be terminated earlier subject to certain conditions or defaults in payment of rent.

5. The Act recognizes conditions of Force Majeure, and the Act does not in any manner indicate the Covid-19 Pandemic to be a Force Majeure. 

6. There is a maximum limit of 2 months of deposit on Security Deposit for residential premises and of 6 months Security Deposit for commercial premises.

7. The Act lays the burden of improvement and Structural Repairs of the building on the Landlord whilst putting the burden of maintenance and replacement of fixtures, electric switches, sockets, kitchen, glass panel, windows, doors, etc. on tenant unless agreed to otherwise in the tenancy agreement.

8. The Act speaks about the Rights of Legal heirs of all Tenants and Landlords on their respective rights and removes several disputes between them. It eases out the recovery of possession in premises of death or acknowledges and identifies the case of property even in the death of parties.

9. Landlord or manager cannot withhold essential supply or services as defined in the Act.

10. On the expiration of the period of tenancy or termination of tenancy by an order or notice, such tenant shall be liable to pay the landlord Twice the monthly rent for the first two months; and Four times the monthly rent thereafter the tenant continues to occupy the said premises.

11. The Explicit Roles, Duties and Obligations of the Tenants and Landlords are Described in the Act in brief.

12. Dispute Resolution:

• a. Any Applications filed shall be filed before the Rent Authority, upon not being satisfied with the order of which, an Appeal to the Rent court can be made. An establishment of Rent Tribunal in each District is also defined in the Act.
• b. Disputes when arisen, shall be disposed of expeditiously in a time-bound manner and restricted to 60 days whilst the appeals arising from the same shall be disposed of within 60 days.
• c. Very limited provisions of Civil Procedure Code stand Available, the act rather explicitly states to rely upon the Principals of Natural Justice thereby removing and easing off a lot of technicalities. 
• d. For recovery of fine, the Rent Court shall be deemed to be a Magistrate and have been powers of JMFC to recover “fine” under Criminal Procedure Code.

13. Procedure – Landlord / Tenant can:

• a. File application.
• b. Upon receiving the aforesaid, Rent Court/ Tribunal shall issue notice.
• c. Opposite party will file a reply, rejoinder, etc. 
• d. Date of hearing to hold a summary inquiry as deemed necessary or fit.
• e. Authority to dispose of the matter within 60 days, Appeal to be Decided within 60 days.

14. The Rent Court or tribunal also has powers to execute for delivering possession or attach one or more bank accounts for recovering of amounts due.

Towards several aspects, states have been given power to make their own rules and remove difficulties.

As Maharashtra would head to establish such authorities, the digital move will be seen with great appreciation, and we may find ourselves at a model closer to what we could see in MahaRERA. MahaRERA helps in providing extensive information to the public at large for real estate projects and has been taken as a positive step. Experts anticipate this move to be positive as well, however, the technicalities must be ironed out while establishing these Authorities and Courts. 

It however must be considered and a sufficient number of Courts must be established as the Act puts a burden on the Authorities to pass orders in a timely manner. The Citizens also have been anticipating and waiting for such established authorities and Courts for Cheque Bounce cases. The establishment of such courts and Fast-Track reliefs and Justice will strengthen the spirit of the citizens, assure them Speedy Justice and simultaneously declutter the courts to handle the existing burden of cases.

Also Read: Model Tenancy Act The RERA Of Rental Market 

PS: The views expressed are the opinion of the expert

The post Tenancy Act: Read This Before You Rent A Home appeared first on Square Feat India.

By Varun Singh

On Wednesday the Union Cabinet approved the Model Tenancy Act (MTA) for adoption and enactment by states/UTs to promote rental housing in India.

The official twitter handle of Ministry of Housing and Urban Affairs, tweeted, “MTA envisages to balance the interests and rights of both the owner and tenant in accountable and transparent manner.”

As per Memorandum of Understanding (MoU) signed by States/UTs under PMAYUrban, they would either legislate or amend existing rental laws on the lines of MTA.

After enforcement of this Act, no person shall let or take on rent any premises except by an agreement in writing.

MTA will be applicable prospectively and will not affect existing tenancies and will cover both urban and rural areas.

A digital platform will be set up in the local vernacular language or the language of the State/UT for submitting tenancy agreement and other documents.

One of the salient features of the Model Tenancy Act is time bound and robust grievance redressal mechanism comprising of Rent Authority, Rent Court and Rent Tribunal to provide fast-track resolution of disputes.

The Act specifies, isposal of complaint/appeal by Rent Court and Rent Tribunal will be within 60 days.

According to Dr. Niranjan Hiranandani, National President, NAREDCO, the Model Tenancy Act will facilitate unlocking of vacant houses for rental housing purposes.  It is expected to give a fillip to private participation in rental housing as a business model for addressing the huge housing shortage. The Act will enable institutionalisation of rental housing by gradually shifting it towards the formal market.

Anuj Puri, Chairman – ANAROCK Property Consultants says, this act will bridge the trust deficit between tenants and landlords.

Puri said, “The Model Tenancy Act will help bridge the trust deficit between tenants and landlords by clearly delineating their obligations and will eventually help unlock vacant houses across the country.”

According to Puri, this Act can fuel the rental housing supply pipeline by attracting more investors, and more rental housing stock will help students, working professionals and migrant populations to find urban accommodation (especially in COVID-19-like exigencies).

“Once implemented in all fairness across states, it will go a long way in formalising and stabilising the rental market. It would also revive the fortunes of not just the rental market but the housing sector at large.”

Anuj Puri, Chairman – ANAROCK Property Consultants

The move is expected to help both the tenants and the landlords and help them resolve issues.

Rohit Poddar, Managing Director, Poddar Housing and Development Ltd says, “The Act will help in building a better tenancy market. The terms and conditions of the rental tenancy are clear to both landlords and tenants and reduce a significant number of disputes that take place due to unwritten agreements, thus the move will benefit both the landlords and tenants by creating a cohesive and sustainable environment.”

Anand Gupta, of Builders Association of India is hoping that the act will facilitate housing for all in the country.

According to Pankaj Bhansali, COO, Eqaro Guarantees Pvt Ltd, the new act would bring in over 11 million urban houses into the rental market and help address the country’s massive housing shortage.

He said, “The move will help address the high number of vacant residential units in India, which is over 11 million houses, making it economically productive, reducing litigation, and encouraging trust between the landlord and the tenants. The new model Tenancy act will also encourage and attract institutional investments into the residential assets.”

However, Puri also says that, while the Model Tenancy Act is a step in the right direction by providing a clear roadmap for states to follow, it will remain to be seen to what extent the states will toe the central government’s line.

Bhansali is hopeful that, like the RERA law, the Model Tenancy Act will reform the rental housing business in India with utmost transparency.

Also Read: Read How MahaRERA Decides Seniority of Complaints

The post Model Tenancy Act The RERA Of Rental Market appeared first on Square Feat India.

By Varun Singh

While everyone is talking about high realty sales, Mumbai city’s rental market has also done pretty well.

Mumbai city’s rental market has outperformed itself when compared to last year.

Between September to November 2019, a total of 44,455 leave and license agreement were e-registered with the Department of Registration and Stamps.

In the same period this year, the number of leave and license agreements registered has gone up to 55,021.

A detailed research by SquareFeatIndia shows that, people have defied the perception that prevailed during COVID times and opted for rental homes.

Not only this, in the 24 days of December 2020, Mumbai city’s e-registration of leave and license number stood at 17,345.

In entire December 2020 the total figure of e-registration of leave and license agreement was 15,572.

Even the revenue for the state government from the registration of rental agreement has gone up. Between September to November 2020 the registration department earned Rs 8.52 crore via e-registration, the figure for the same period in 2019 stood at Rs 6.57 crore.

Up to December 24, 2020 Mumbai city’s revenue from e-registration of rental agreement stood at Rs 2.56 crore, last year in entire December the revenue from e-registration of leave and license agreement was Rs 2.17 crore,

What is the reason behind the surge in the number of rental agreements in this period.

A landlord from Bandra who rented his commercial office premises recently said, “Landlords are ready to negotiate with the tenants. Market is bad, and it is better to have a tenant at a little bit less rent than earn nothing.”

The main reason for rental agreements seeing a high is also being attributed to the return of the migrant population that had left for their hometowns during the COVID led pandemic, which forced the governments to impose a lockdown.

Realtor Siddhant Gupta of Brickhouse says, “Reduced rental rate’s and return of most of the office staff from out station has made a lot of difference. Bollywood aswell has started shooting again, thus a lot of actors from Delhi , Chandigarh etc have returned too.”

Also Read: Tardeo Flats Sold For Rs 1.18 lakh Per Sq Ft

The post Mumbai Rental Market Sep-Nov 2020: 55021 Sep-Nov 2019: 44455 appeared first on Square Feat India.