- Bengaluru tenants face high deposits of Rs 3-4 lakh for 2BHK flats with Rs 70,000 rent
- A 2BHK flat lacked promised furnishings despite high rent and deposit demands
- Landlords seek 7-8% annual rent hikes, claiming it's lower than usual rates
Bengaluru rental prices have become a major cause of concern for tenants as landlords demand outrageous sums of money for deposits. The incident was highlighted in a recent social media post, where a resident claimed that they were asked to pay a deposit of around Rs 3-4 lakh for a 2BHK flat with a monthly rent of Rs 70,000 and facilities poorer than a PG accommodation.
Highlighting that the city's rental market was getting 'ridiculous', the resident said they were genuinely frustrated as house hunting had become an impossible task.
"Found a 2BHK in a pretty location, basically walking distance from my office. So yes, I was willing to pay a premium. The flat had a nice decorated living room and balconies with good views," they said.
While the flat was advertised as fully furnished, there was no fridge, no washing machine, no dining table and no bed in the second room. The resident said they had seen better-furnished PGs.
"Asking rent: roughly Rs 70k including maintenance. Deposit: around Rs 3-4 lakh. And the owner wanted approximately 7-8 per cent rent increases every year, presented like he was doing me a favour because “others ask 10per cent.” At this point, where do people think money is coming from?" they said.
"If I'm paying Rs 70k for a 2BHK, I don't expect a palace. But I expect premium value. Big rooms, proper furnishing, great facilities. I eventually offered around 65K with a three-month deposit. They refused. Fine. I walked away without regret."
The resident advised other tenants to question the rent, inquire about the basic amenities and if possible, walk away, as the IT salaries were not infinties, especially in the current market.
"That Rs 10-15k extra you're casually paying every month is money that could have gone into investments, savings or simply buying yourself more financial security," they said.
"Don't just accept “This is Bangalore." If you're paying a premium, demand premium value. Maybe someone else will happily pay Rs 70k for this flat. Good for them."
Check The Post Here:
Bangalore's rental market is getting ridiculous.
by u/CapSteve4 in bangalorerentals
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'System Harasses Us'
Reacting to the landlord's demand, social media users highlighted that it had unfortunately become the norm in Bengaluru. The residents did not have any other option, as living far from the workplace would mean struggling in traffic.
"The problem is, someone will pay that much. I don't know why people in Bangalore don't negotiate. Not generalising, but someone will book that flat and pay 70k," said one user, while another added: "For such small rooms, I pay around 26k, and I feel even that is too high. It is unfurnished, btw. How were you ready to pay 65k."
A third commented: "Agreed. But what do we do when the system itself is built to harass us? We can't afford to stay anything more than 10km away from office because the travel, traffic, petrol, cab prices will take away our time, hard-earned money, and peace. The roads and infrastructure are built to fail us."
A fourth said: "If everyone collectively stops going for these prices, it'll just come down. That's what is happening in Hyderabad. People are okay to live in stand-alone apartments and there's just an oversupply there."
