Bangalore Rents are going Crazy
Recently our Owner asked us to vacate after 3 years of staying here in Koramangala, a 4 BHk home. Mostly be renegotiating with him.
Meanwhile in our search for possible other options, we have found that most of the residential properties are being inflated randomly by the owners recently, the reason being, we all know the influx into Bangalore & I have had a call with few properties
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1.3 Lakhs quotes for unfurnished 4 BHK home in HSR Sector 1
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1.5 Lakhs quoted for Unfornished 5 BHK in HSR sector 3
Too much firing in place, AI advent, Funding slowdown in Startups
Things are going super greedy with owners here in Bangalore.
Thoughts on how to overcome this situation ?
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I was house hunting in Hyderabad, they asked 2.smth for renting a 3 bhk :)
That's like saying i was in phulera Village and a 3 bhk house costed 4L pm. We know it's possible but it's not the norm.
Ik it's just that this happened yesterday and I saw this post on the same topic so couldn't resist mentioning it!
Being a 3rd gen non-kannadiga bangalorean I'm forced to admit that local landlords have really always been greedy with their 10 month rental deposit demand. And now with crazy rental hikes. There are some folks in recent times who have slowly stopped with the 11 month deposit non sense and come down to 3-6 months, that too on negotiable terms. No wonder proptech in any form seems to do well here. There's no way to overcome this situation, it's just how it is and will be with the city growing wealthier day by day. Law of supply and demand is heavily favored on in the rental supply side now, so prices will remain high
What is the security and month-wise breakdown and the minimum contract.
I had 1 year stint in Bangalore and never going back. Landlords were super educated IT honchos in US and amount of greed they displayed was crazy. They didn’t even pay back my deposit money citing some random issues which existed before I took possession as I was too naive not to photograph every angle of flat and send them pictures before I took possession. Horrible horrible mindset
Yes. People are waiting to pay more and share more. Flushing old tenant is a good idea as per land owner as one might get used to property if stayed longer and hike is less. new tenant will pay more and give more advance that's it.
How much rent is there or average per month