The deadly second wave again led to a rise in vacancies in his building. The second wave has had a severe impact, with some tenants and their families back home getting infected. India’s rental housing market, particularly in IT-driven cities such as Bengaluru and Pune, is seeing increased vacancies at apartment complexes and decline in rents as companies extended the work-from-anywhere option after the second wave. “The extended work-from-home option due to the second wave has once again put pressure on the residential rental market. Only once we see offices resume – hopefully by early next year – we may see the rental market pick some momentum," Puri added.

Source: Mint July 19, 2021 18:22 UTC