Why did the rent of Rs 1.1 lakh for a 3BHK flat in Bengaluru become a point of debate on social media? In which areas are rents increasing rapidly in Bengaluru due to increasing demand? How did social media users react to the viral rent listing? According to housing experts, what is the main reason for the boom in Bengaluru’s rental market?
A post is becoming increasingly viral on social media, in which the rent of a 3BHK apartment in Bengaluru is said to be Rs 1.1 lakh per month. This post has sparked a new debate on the skyrocketing rents and rising house prices in the city. After this listing went viral, many internet users were shocked and started raising questions whether the rental market of Bengaluru is now out of control?
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According to reports, the landlord was asking a monthly rent of Rs 1.1 lakh for his semi-furnished 3BHK apartment in a posh area of Bengaluru. As soon as screenshots of this listing were shared on social media, this figure came into public view and users gave sharp reactions to it.
One user wrote, “This much is someone’s salary for a month.” Another user commented, “Accordingly, paying EMI seems cheaper than paying rent in Bengaluru.” Many compared these rents to the salaries of mid-level professionals in India and said that such prices were becoming completely unrealistic for common working people.
Many social media users also pointed out how much Bengaluru’s real estate market has changed in the last few years, especially after the ‘return-to-office’ trend started in the IT sector. The increase in demand for homes in tech corridors like Whitefield, Bellandur, Sarjapur Road and Electronic City has led to a huge surge in rents.
Some users also defended this price. His argument was that luxury gated societies with premium amenities in Bengaluru are in high demand due to high-earning tech workers and foreigners, hence the rents there are also high. Others criticized landlords for having “increased expectations” and alleged that the city’s housing market was becoming inaccessible to middle-class people.
This viral discussion has also rekindled a major debate on the rising cost of urban living in major metro cities of India. Many users highlighted how rising rents, traffic jams and rising cost of living are putting pressure on professionals coming to Bengaluru for work.
Housing experts say that the rental market of Bengaluru remains very competitive from 2023 onwards. The main reason for this is the increasing demand from IT employees and startup professionals. Areas around big tech parks are seeing a sharp rise in rents due to limited supply and high occupancy rates.
Despite online criticism, premium apartments in posh areas of Bengaluru still find tenants willing to pay higher rents for better connectivity, security and lifestyle amenities. However, this viral post has once again exposed the widening gap between salaries and household expenses in this major technology hub of India.