Spatial Variations in Residential Rental Values-Case Study of Vijay Nagar, Hyderabad

Abstract

Migration from rural to urban leads to intense urbanization; as a result, the demand for houses increases. Migrants prefer to have rental housing instead of having their own houses. Residential rental values differ from place to place on a city horizon. Variations in residential rental values are a result of preferences of tenants i.e. locational and neighborhood attributes. In Hyderabad Metropolitan Area, the impact of location and neighborhood attributes on rental housing shows the spatial variations in residential rental values. These preferable attributes further can be defined in form of Physical, Social, and Economic importance. Rents are fixed depending upon the availability of the aforementioned attributes. This paper aims to explore the impact of these attributes of preferences, made by tenants on residential rental values. To achieve the results, demand, and supply have also been analyzed by taking the mean values of identified parameters. The study is vital for investors, real estate developers, and housing policymakers to relieve capital investment decisions in the housing sector.