Rental rates in Bengaluru peaks! Sees Rs. 40,000 rent/1BHK

Redditors debate whether rents in Bengaluru are quickly catching up to those in Mumbai, even if HSR Layout and Koramangala are still considered to be posh neighborhoods in the city.

Another social media discussion about Bengaluru's rental housing market started when a Reddit post disclosed that a landlord is asking a potential tenant to pay Rs. 4.8 lakh as a security deposit and Rs. 40,000 per month. This sparked a debate about how the city's rental prices have skyrocketed.

The tenant had been looking for a one-bedroom apartment in the HSR Layout and Koramangala neighborhoods.

One user commented, "The renting situation is the worst here," adding to the conversation. I am experiencing the same thing, and I am fully aware that Bengaluru is now similar to Mumbai.

"I saw some decent listings. But I found a 1BHK for Rs. 40,000 rent and a 2/3BHK between Rs. 75,000 and Rs. 90,000 rent," he wrote.

Comparisons between Bengaluru and Mumbai have been made in recent years. The IT capital's rental prices are still rising by 23–30% a year. According to several apartments in Indiranagar, rental prices increased by 40–50% in the previous year.

South Bengaluru and the Whitefield suburbs are relatively affordable, but according to local brokers, rental prices have skyrocketed in the city center and IT corridors, with some 4BHK listings demanding Rs. 2 lakh per month.

"Last November, we rented out a 4BHK for Rs. 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, Realty Corps said.