Property prices and rents in Bengaluru have skyrocketed, making it difficult for residents to buy or rent a home. The price of a 2BHK flat has reached ₹2 crore in 3 years, while the rent is more than ₹70,000.
Many Bengaluru residents are struggling to buy or rent a home these days, as property prices and rents have skyrocketed in recent years. A resident expressed his anger on Reddit, describing finding a 2BHK property in the city as a ‘nightmare’. The post is captioned, “Where is BLR Real Estate Going?”
This resident said that in the last three years, the price of a flat has increased from ₹1.4 crore to ₹2 crore, even though it has many shortcomings. According to him, this flat is next to a big drain and has many other problems, but due to its proximity to the Outer Ring Road (ORR) and nearby IT companies, its demand always remains. Taking a house on rent is also not a matter of relief. The rent of similar 2BHK flats is also skyrocketing. Now people are paying more than ₹70,000 rent every month. The resident wrote, “We were also ready to live on rent, but the rent has increased like a rocket in the last three years. Today, people are paying more than ₹70,000 for the same unit, and I am shocked!”
This tenant told that his plan was to save money and buy a flat within three to four years. However, the rapid increase in house prices has made this plan impossible. “All societies are running on tankers, and roads barely exist. Paying such a huge amount doesn’t seem right at all,” the resident wrote. This problem is even more serious in some housing societies. A local said that in some areas, 2BHK flats are being sold for around ₹2.5 crore, and all the flats have been sold.
See the viral post here…
For this resident, the mismatch between rising prices and existing problems has made the dream of buying a home seem distant.
How was the reaction on social media?
Reddit users reacted angrily to the post. Many people shared similar concerns about the rising property prices in Bengaluru. Many users said that such high rents and house prices have now become common in areas near IT hubs.
One user wrote, “Stay on rent and chill.” “I wonder which techie is buying a flat given the threat of AI on software jobs,” said another.
“Don’t wait for the bubble to burst, get a roof over your head,” a third commenter wrote. Another user said, “Finding a good 2BHK in Bengaluru can be difficult. The prices are ridiculous, and the competition is fierce.”