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New Delhi: In India's rental housing market, the Delhi–NCR region has become the best-performing region. However, after three quarters of frenzied activity, the broader market is likely to cool down.
As per Magicbricks’ Rental Index for the July–September 2025 (JAS ’25) quarter, Greater Noida was the top performer in rental demand with a massive 29.5% quarter-on-quarter jump, which follows Delhi's 17.8% jump and Noida's 10.8% QoQ jump.
It is taking place when the national rental market has started to moderate, with a stability in tenant activity and supply catching up gradually. In our country, rental demand rose 0.2% QoQ and 0.4% on year, while supply increased 0.6% QoQ and 5.9% YoY.
Despite the activity becoming slow, the average rents in India grew 4.4% QoQ and 18.1% YoY, showing that there is still an appetite for homes that are mid-sized and well-connected. Among cities, Thane's QoQ increased the sharpest at 12.5%, followed by Chennai with a 6.7% jump, Mumbai with a 4.9% jump, and Delhi with a 4.5% jump. In the national capital, more tenants are coming to stay, and its supply has seen a robust jump of 17.6% QoQ, the highest among all major markets.
Prasun Kumar, CMO at Magicbricks, told the Business Standard, “While the national rental market has begun to stabilise after several quarters of rapid growth, the continued momentum in NCR shows how infrastructure upgrades, better connectivity, and a steady flow of mid-sized homes are sustaining tenant interest. The moderation in rents across most cities signals a healthy shift toward balance, where supply is catching up with demand." In India, 44% of tenants want 2BHKs while 32% want 1BHKs.
