Gross rental yields in India: Mumbai and 7 other cities

Average gross rental yields in India stands at 4.39% (Q1, 2024). Previously, in Q3, 2023 the average gross rental yield stood at 4.54%.

  • Mumbai
  • Delhi
  • Kolkata
  • Pune
  • Bangalore
  • Hyderabad
  • Chennai
  • Ahmedabad
  Last Updated: Mar. 27, 2024
MUMBAI - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Andheri to Dahisar  
Studio $65,563 $180 3.29%
1-Bedroom $114,285 $301 3.16%
2-Bedroom $206,916 $541 3.14%
3-Bedroom $342,855 $902 3.16%
4+Bedroom $579,846 $1,612 3.34%
Thane      
Studio $38,481 $96 2.99%
1-Bedroom $72,825 $174 2.87%
2-Bedroom $144,351 $301 2.50%
3-Bedroom $234,570 $481 2.46%
Navi Mumbai      
Studio $31,276 $102 3.91%
1-Bedroom $57,740 $180 3.74%
2-Bedroom $119,089 $313 3.15%
3-Bedroom $191,844 $445 2.78%
4+Bedroom $394,560 $776 2.36%
Central Mumbai      
Studio $72,175 $162 2.69%
1-Bedroom $114,278 $301 3.16%
2-Bedroom $199,685 $505 3.03%
3-Bedroom $332,007 $866 3.13%
4+Bedroom $593,043 $2,165 4.38%
Mumbai Harbour  
1-Bedroom $123,901 $397 3.85%
2-Bedroom $235,773 $625 3.18%
3-Bedroom $402,227 $902 2.69%
South Mumbai      
1-Bedroom $199,610 $481 2.89%
2-Bedroom $449,725 $1,022 2.73%
3-Bedroom $765,975 $2,285 3.58%
4+Bedroom $1,231,333 $4,810 4.69%
Mumbai avg. Rental Yields 3.19%
DELHI - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Delhi South  
1-Bedroom $21,644 $168 9.31%
2-Bedroom $42,086 $277 7.90%
4+Bedroom $289,255 $1,352 5.61%
West Delhi      
1-Bedroom $21,043 $138 7.87%
2-Bedroom $32,617 $240 8.83%
3-Bedroom $54,111 $328 7.27%
Delhi avg. Rental Yields 7.80%
KOLKATA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Kolkata South  
1-Bedroom $21,680 $93 5.15%
2-Bedroom $51,129 $180 4.22%
3-Bedroom $89,584 $397 5.32%
4+Bedroom $249,513 $1,352 6.50%
Kolkata East      
1-Bedroom $23,527 $108 5.51%
2-Bedroom $64,127 $216 4.04%
3-Bedroom $97,400 $360 4.44%
4+Bedroom $247,709 $721 3.49%
Kolkata North      
1-Bedroom $23,484 $96 4.91%
2-Bedroom $45,694 $144 3.78%
3-Bedroom $80,637 $228 3.39%
Kolkata West  
2-Bedroom $34,571 $132 4.58%
3-Bedroom $62,528 $220 4.22%
Kolkata Central  
2-Bedroom $49,553 $312 7.56%
3-Bedroom $143,094 $457 3.83%
Kolkata avg. Rental Yields 4.73%
PUNE - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Kharadi  
1-Bedroom $70,702 $180 3.06%
2-Bedroom $95,950 $301 3.76%
3-Bedroom $134,718 $481 4.28%
Hadapsur  
1-Bedroom $48,636 $144 3.55%
2-Bedroom $102,229 $283 3.32%
3-Bedroom $147,949 $300 2.43%
Hinjewadi  
1-Bedroom $51,710 $217 5.04%
2-Bedroom $78,040 $241 3.71%
3-Bedroom $115,472 $265 2.75%
Baner  
2-Bedroom $110,661 $289 3.13%
3-Bedroom $168,397 $373 2.66%
Wagholi  
1-Bedroom $38,166 $108 3.40%
2-Bedroom $56,924 $168 3.54%
3-Bedroom $102,229 $264 3.10%
Undri  
2-Bedroom $61,344 $180 3.52%
3-Bedroom $82,996 $301 4.35%
Pune avg. Rental Yields 3.48%
BANGALORE - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Bangalore North  
1-Bedroom $54,813 $216 4.73%
2-Bedroom $90,826 $364 4.81%
3-Bedroom $151,557 $577 4.57%
4+Bedroom $427,609 $928 2.60%
Bangalore East      
1-Bedroom $56,184 $241 5.15%
2-Bedroom $93,556 $331 4.25%
3-Bedroom $144,340 $650 5.40%
Bangalore South      
1-Bedroom $47,043 $156 3.98%
2-Bedroom $68,309 $277 4.87%
3-Bedroom $117,457 $662 6.76%
Bangalore West  
1-Bedroom $67,347 $132 2.35%
2-Bedroom $95,180 $361 4.55%
3-Bedroom $230,945 $481 2.50%
Bangalore Central  
2-Bedroom $114,269 $360 3.78%
3-Bedroom $227,336 $824 4.35%
4+Bedroom $372,880 $1,804 5.81%
Bangalore avg. Rental Yields 4.40%
HYDERABAD - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
All Locations  
1-Bedroom $32,476 $132 4.88%
2-Bedroom $73,974 $217 3.52%
3-Bedroom $128,703 $331 3.09%
4+Bedroom $383,104 $692 2.17%
Hyderabad avg. Rental Yields 3.41%
CHENNAI - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Chennai (all locations)  
1-Bedroom $36,074 $144 4.79%
2-Bedroom $70,693 $180 3.06%
3-Bedroom $114,223 $360 3.78%
4+Bedroom $290,998 $902 3.72%
Chennai avg. Rental Yields 3.84%
AHMEDABAD - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Ahmedabad (all locations)  
1-Bedroom $29,469 $120 4.89%
2-Bedroom $57,736 $217 4.51%
3-Bedroom $98,632 $349 4.25%
4+Bedroom $303,115 $902 3.57%
Ahmedabad avg. Rental Yields 4.30%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide and Makaan
India´s Historic Rental Yield Data

Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the different cities of India. We used Makaan (largest property portal in India) for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).

For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).

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