Tenants grapple with soaring rentals in Bengaluru
A poster showing a spectator being waved at the IPL match held at the Chinnaswamy Stadium in Bengaluru is going viral on social media these days. The poster has also highlighted the difficulties being faced by people from outside in getting a house on rent in the country’s IT capital, Bengaluru. It was written on the poster, “Looking for two BHK in Indiranagar.” As per media reports, Atin Bose, who is showing this poster, is a product designer by profession. There has been a huge increase in the house rents in Bangalore in the last few months. With the increase in demand, the terms and conditions of the owners have also increased, making living on rent even more difficult.
The rent of houses in Bangalore has increased by around 20 to 40 percent. Now the rent of a decent 2BHK here has gone up to Rs 40,000 a month. It has gone up to 60 thousand at a good location. Buying a 2BHK flat in Bellandur, Sarjapur Road, Jaynagar, Basaveshwar Nagar and Indiranagar is no longer affordable without burning a hole in your pocket. Whereas, in Indira Nagar, Basaveshwar Nagar and Bellandur, the rent of 3BHK has reached from Rs 65 thousand to Rs 1.6 lakh.
Why the rent increased?
Due to Covid-19, many houses remained vacant in Bengaluru for two years. Or where the tenants were living, they were paying very less rent. Now since the end of the Corona pandemic restricions, the employees working in Bangalore have returned. Due to this, there has been a tremendous increase in the demand for rental houses. For this reason the landlords have increased the rent tremendously.
