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Bengaluru real estate: Netizens discuss case of ₹40,000 rent for a 1BHK in the IT capital
While HSR Layout and Koramangala remain upscale neighbourhoods in the city, Redditors discuss if rents in Bengaluru are fast catching up with that of Mumbai
In another social media discussion on Bengaluru’s rental housing market, a Reddit post revealed that a landlord is charging ₹40,000 per month and ₹4.8 lakh as a security deposit from a prospective tenant, sparking a debate on how rentals in the city have shot through the roof.
The tenant had been searching for a 1BHK in the Koramangala and HSR Layout areas. "I saw some decent listings. But I found a 1BHK for ₹40,000 rent and a 2/3BHK between ₹75,000 and ₹90,000 rent," he wrote.
"Rental here does not seem to be practical. Just because a landlord owns a property, can they ask ₹4.8 lakh as a deposit?" The post said.
While HSR Layout and Koramangala remain upscale neighbourhoods in the city, Redditors discussed whether a 1BHK could fetch such a rent in the IT capital.
Also Read: Bengaluru real estate market: Is renting a flat in the IT city for less than ₹20,000 per month possible?
Is Bengaluru going the Mumbai way? Redditors ask
Adding to the discussion, a user wrote, "The rental situation is the worst here. I am going through the same, and I completely understand that Bengaluru is just like Mumbai now."
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 added.
Also read: Bengaluru real estate: Here's what makes the city the top choice for renting or buying an apartment for women
There’s no dearth of demand for rental properties
In a transaction that Singh brokered recently, an 800-sq-ft 1BHK close to MG Road fetched a rent of ₹40,000 per month. "However, even before I could close it, another real estate brokerage firm closed the deal at the same price with their client," he said.
In areas like Koramangala, Indiranagar, HSR Layout and Hebbal, brokers say 1BHK apartments can even cross ₹40,000 monthly rent depending on the amenities provided inside gated societies.
Tenants in Bengaluru continue to face constant challenges, especially when paying deposits. While six to nine months of rent as a security deposit is the norm, several tenants say landlords often ask for almost double the amount.
However, real estate brokers add that several 1BHKs are also available at affordable rents in the city. A 1BHK in a gated society in north Bengaluru would cost around ₹25,000, depending on the amenities available. In areas like BTM Layout, outskirts of Whitefield, JP Nagar and southern parts of Kanakapura Road, several such units are also available at less than ₹25,000 rent. However, these are primarily standalone apartments, often without elevators.
