Bengaluru is popular for rental housing but only for all the wrong reasons.
A report published by Anarock, a property consultancy firm, reveals that during the first quarter of 2024, Bengaluru recorded the highest rental yield, 4.45%, among India’s top seven cities.
A woman named Harnidh Kaur posted on social media about her rent woes in the city. She revealed that she was asked to pay Rs 5 lakh as a security deposit for her apartment, having a monthly rent of Rs 40,000. “I’m so tired,” she tweeted.
This is in stark contrast to the security deposits asked for in other metropolitan cities. Bengaluru stands at the top, with 6 to 10 months of rent to be deposited, while other places like Delhi, Mumbai and Hyderabad appear to be more tenant-friendly with average deposits of 2-4 months. Kolkata has the lowest security deposit rate and the rent is also meagre, thus making it the most affordable for tenants.
Read More: Loneliness, Hair Loss, High Rent: Tech Professional Talks About Life In Bengaluru
The demand for rental places is on the surge as companies disregard work-from-home, while the lockdown induced by the COVID-19 pandemic delayed construction. This is how landlords are leveraging the situation.
Here are 5 things Bengaluru tenants are expecting from their landlords:
Do you think fulfilling these expectations will solve the ‘Bengaluru rent woes’? Let us know in the comments below.
Image Credits: Google Images
Sources: Hindustan Times, Moneycontrol, Business Standard
Find the blogger: Unusha Ahmad
This post is tagged under: Bengaluru, rent, Bengaluru rent woes, tenant, landlord, expectations, comments, Twitter, social media, post, COVID-19, Delhi, Mumbai, Hyderabad, Kolkata, metropolitan cities, security deposit, Silicon Valley, India, infrastructure
Disclaimer: We do not hold any right, or copyright over any of the images used, these have been taken from Google. In case of credits or removal, the owner may kindly mail us.
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