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Bengaluru flat at ₹70,000 rent, ₹5 lakh deposit sparks netizens' outrage; 'Feels no different from Mumbai’
Bengaluru rentals: Redditors say steep rents make little sense vs buying, warn they may set new benchmarks; some feel city now no different from Mumbai
Netizens are comparing a Bengaluru flat listed at ₹70,000 monthly rent with a ₹5 lakh deposit to European standards, quipping that the owner seems to believe expensive furnishing justifies doubling the rent. Many argue that such steep rents make little financial sense compared to buying, though some unsuspecting tenants may still take it, potentially setting a new benchmark. Others feel that ‘Bengaluru now feels no different from Mumbai.’
A Reddit post showcasing a 2BHK apartment in east Bengaluru’s Panathur area, listed at ₹70,000 per month with a ₹5 lakh deposit, has sparked debate online. Users question who can afford such rents in the tech capital, which is already battling a housing affordability crisis.
The 1,205 sq. ft. apartment is being advertised as ‘premium living’ with high-end furnishing. But netizens pointed out that the asking rent is more than what many European apartments cost and that an EMI of the same amount could finance an ₹80 lakh home loan.
One Redditor wrote, “Ongoing rent here is ₹45,000 plus maintenance, and even that feels steep. For ₹70,000, you might as well buy the flat; these are selling at around ₹1.2 crore. It’s just a small 2BHK, more like a 1.5BHK. The owner seems to think expensive furnishing equals double rent.”
Also Read: Bengaluru's rental crisis: Can you find a home on a ₹10,000– ₹12,000 budget in the tech capital?
From IT hub to high-rent hub
Once considered affordable compared to Mumbai or Delhi, Bengaluru’s rents have skyrocketed post-pandemic, driven by a surge in demand from returning IT employees and a limited supply of quality housing near major tech hubs like Whitefield, Panathur, and Sarjapur.
Market data shows that 2BHK flats in gated communities that rented for ₹25,000– ₹30,000 a month in 2019 are now commanding ₹45,000– ₹55,000, with some Grade A apartments pushing far higher.
Are these rents the new normal?
Tenants argue that such inflated asking prices set an unsustainable benchmark, forcing others to follow suit. “Maybe some unaware folks will end up taking it, and then that becomes the new standard,” one Redditor warned.
Industry analysts note that while premium gated projects justify higher rents with amenities and landscaping, the gap between rental yields and property prices remains wide. For many, paying such high rents makes little financial sense when compared to buying an apartment.
As Bengaluru continues to grapple with rapid urbanisation and housing shortages, the debate over whether the city is becoming ‘unlivable’ due to soaring rents shows no signs of slowing down.
Also Read: Planning to rent in Bengaluru? Netizens warn of hidden costs and water issues; even suggest checking with society guards
Is Bengaluru going the Mumbai way?
Several Redditors and prospective tenants have echoed a growing sentiment reflected in recent reports, saying the city’s rental market has become expensive. “The rental situation is the worst here. I’m going through the same, and honestly, Bengaluru feels no different from Mumbai now,” one user wrote, referencing how the city’s housing costs are increasingly being compared to India’s financial capital.
Over the last few years, comparisons have been drawn between Bengaluru and Mumbai. Rentals in the IT capital continue to increase 23-30% annually. Some apartments near Indiranagar reported a 40-50% hike in rentals last year.
While Bengaluru suburbs, such as south Bengaluru and the outskirts of Whitefield, are still reasonably priced, local brokers say rentals in the city centre and IT corridors have zoomed, with some 4BHK listings asking ₹2 lakh a month.
"Last November, we rented out a 4BHK for ₹2.5 lakh per month in north Bangalore. These are just one of the many transactions we did over a lakh price bracket," Sunil Singh, director of Realty Corps said.
