Average Residential Property Manager Salary in India for 2024

In this article, we will look at the average Residential Property Manager salary for 2024 in India and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Indian rupee. To keep things simple, we are using the INR currency code instead of the currency symbol โ‚น.

How Much Does a Residential Property Manager Make in India?

A Residential Property Manager working in India will typically earn around 454,900 INR per year, and this can range from the lowest average salary of about 221,500 INR to the highest average salary of 712,100 INR.

Average Annual Salary
454,900 INR
Average Monthly Salary
37,908 INR

Lowest Annual Salary
221,500 INR
Lowest Monthly Salary
18,458 INR

Highest Annual Salary
712,100 INR
Highest Monthly Salary
59,341 INR

These are average salaries for a Residential Property Manager in India and include benefits such as housing and transport. It's also possible for a Residential Property Manager to earn more or less than the average salaries shown above.

Residential Property Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Residential Property Manager Salaries in India

So we've looked at the average salaries a Residential Property Manager will earn in India. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Residential Property Manager can earn between 221,500 INR and 712,100 INR on average in India. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Residential Property Manager in India is 464,900 INR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 464,900 INR, and 50% of the population earn more than 464,900 INR.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Residential Property Manager salary in India, 25% of the population are earning less than 308,300 INR while 75% of the population earn more than 308,300 INR.

75% of the population earn less than 598,600 INR, and 25% of the population earn more than 598,600 INR.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Residential Property Manager Salary by Experience Level in India

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average residential property manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Residential Property Manager in India that has less than two years of experience can expect to earn somewhere in the region of 265,000 INR.
  • 2 - 5 Years Experience. With two to five years of experience the average Residential Property Manager salary would increase to 340,400 INR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Residential Property Manager, the average salary would be 471,700 INR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 581,000 INR.
  • 15 - 20 Years Experience. A Residential Property Manager with 15 to 20 years of experience can earn an average of 623,700 INR.
  • 20+ Years Experience. For a Residential Property Manager with more than 20 years, the expected average salary increases to 664,500 INR.

Average Salary by Experience Chart

0-2 Years
265,000 INR
2-5 Years +29%
340,400 INR
5-10 Years +38%
471,700 INR
10-15 Years +24%
581,000 INR
15-20 Years +7%
623,700 INR
20+ Years +7%
664,500 INR

Residential Property Manager Salary by Education Level in India

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Residential Property Manager in India based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Residential Property Manager in India with a high school education can earn an average salary of 330,900 INR.

  • Certificate or Diploma. A Residential Property Manager in India with a certificate or diploma education can earn an average salary of 378,800 INR.

  • Bachelor's Degree. A Residential Property Manager in India with a bachelor's degree education can earn an average salary of 510,200 INR.

  • Master's Degree. A Residential Property Manager in India with a master's degree education can earn an average salary of 642,800 INR.

Average Salary by Education Chart

High School
330,900 INR
Certificate or Diploma +15%
378,800 INR
Bachelor's Degree +35%
510,200 INR
Master's Degree +26%
642,800 INR

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in India is around 160,000 to 479,000 INR and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Residential Property Manager Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In India, a male residential property manager will earn an average of 478,100 INR, while a female residential property manager will earn around 424,900 INR.

This means that a male residential property manager earns approximately 13% more than a female residential property manager for performing the same job.

Average Salary by Gender Chart in India

Male
478,100 INR
Female -13%
424,900 INR

Residential Property Manager Average Pay Raise in India

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Residential Property Manager in India is around 12% every 17 months.

The national average pay raise across all professions and industries in India is around 9% every 16 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 12 ÷ 17 ) × 12  = 8%

What this means is that a Residential Property Manager in India can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in India for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in India.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Residential Property Manager Bonus and Incentive Rates in India

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Residential Property Manager is a moderate bonus based job, with 57% of employees reporting at least one bonus in the last 12 months.

43% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 6%.

Received Bonus
57%
No Bonus
43%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in India earn approximately 6% more than private sector employees in the same role.

Public Sector
392,300 INR
Private Sector -6%
371,100 INR

Salaries for Jobs Similar to a Residential Property Manager

In the table below, we have salary information for jobs that are similar to a Residential Property Manager in India.

Job Title Category Salary
Acquisition Associate Real Estate 309,800 INR
Assistant Leasing Manager Real Estate 407,300 INR
Assistant Property Manager Real Estate 419,400 INR
Brokerage Real Estate 314,500 INR
Brokerage Clerk Real Estate 164,200 INR
Commercial Leasing Manager Real Estate 648,200 INR
Commercial Real Estate Manager Real Estate 684,900 INR
Community Development Manager Real Estate 597,800 INR
Compliance Specialist Real Estate 309,800 INR
Development Coordinator Real Estate 309,800 INR
Director of Real Estate Real Estate 714,600 INR
Lease Administrator Real Estate 397,900 INR
Leasing Agent Real Estate 332,500 INR
Leasing Consultant Real Estate 384,500 INR
Leasing Manager Real Estate 447,300 INR
Lettings Assistant Real Estate 159,400 INR
Portfolio Analyst Real Estate 539,700 INR
Portfolio Manager Real Estate 743,300 INR
Property Acquisition Agent Real Estate 283,700 INR
Property and Claims Specialist Real Estate 388,100 INR
Property Manager Real Estate 475,700 INR
Property Operations Manager Real Estate 663,100 INR
Property Tax Assistant Real Estate 318,800 INR
Real Estate Administrator Real Estate 353,600 INR
Real Estate Agent Real Estate 332,500 INR
Real Estate Analyst Real Estate 420,800 INR
Real Estate Appraiser Real Estate 341,400 INR
Real Estate Assistant Real Estate 309,800 INR
Real Estate Association Manager Real Estate 437,300 INR
Real Estate Broker Real Estate 314,500 INR
Real Estate General Manager Real Estate 656,800 INR
Real Estate Project Director Real Estate 628,000 INR
Real Estate Project Manager Real Estate 568,500 INR
Real Estate Sales Agent Real Estate 332,500 INR
Real Estate Valuer Real Estate 341,400 INR
Research Analyst Real Estate 296,000 INR
Residential Advisor Real Estate 384,500 INR
Shopping Center Manager Real Estate 684,900 INR
Town Planner Real Estate 670,600 INR

Salary Comparison by City

If you want to compare salaries with different cities in India, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
agra 417,200 INR
Ahmadabad 504,400 INR
Bangalore 498,500 INR
Bhopal 467,100 INR
Chennai 519,300 INR
Coimbatore 436,200 INR
Delhi 513,300 INR
Ghaziabad 442,300 INR
Hyderabad 491,000 INR
Indore 448,500 INR
Jaipur 499,300 INR
Kanpur 466,300 INR
Kolkata 502,200 INR
Lucknow 496,100 INR
Ludhiana 450,300 INR
Madurai 431,300 INR
Mumbai 531,700 INR
Nagpur 478,000 INR
Patna 424,900 INR
Pimpri-Chinchwad 472,100 INR
Pune 472,100 INR
Surat 514,800 INR
Vadodara 425,100 INR
Visakhapatnam 457,300 INR

Salary Comparison by State

The table below includes links to the average salary for each state in India.

City Average Salary
Andaman & Nicobar Islands 388,100 INR
Andhra Pradesh 529,600 INR
Arunachal Pradesh 425,100 INR
Assam 514,300 INR
Bihar 548,500 INR
Chandigarh 431,300 INR
Chhatisgarh 485,200 INR
Dadra & Nagar Haveli 384,500 INR
Daman & Diu 396,300 INR
Delhi 454,300 INR
Goa 433,400 INR
Gujarat 504,400 INR
Haryana 487,600 INR
Himachal Pradesh 447,300 INR
Jammu & Kashmir 480,300 INR
Jharkhand 499,300 INR
Karnataka 543,200 INR
Kerala 498,500 INR
Lakshadweep 369,900 INR
Madhya Pradesh 538,600 INR
Maharashtra 524,700 INR
Manipur 450,300 INR
Meghalaya 425,100 INR
Mizoram 425,100 INR
Nagaland 425,100 INR
Orissa 524,400 INR
Pondicherry 415,900 INR
Punjab 507,300 INR
Rajasthan 528,500 INR
Sikkim 425,100 INR
Tamil Nadu 525,700 INR
Tripura 431,100 INR
Uttar Pradesh 533,000 INR
Uttaranchal 464,400 INR
West Bengal 547,800 INR

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