If your plans are to shift to Bengaluru- the IT Hub of – and live peacefully in a rented apartment while also enjoying the city’s ever-famous ‘good weather’- then you might want to take a look at this!
Bengaluru’s bizarre rent culture is yet again under the scanner, after a man shared a house listing on social media. As per the listing, the house was a 4BHK rented apartment that was fully furnished, with a rent of Rs 2,30,000 per month. Sounds normal? Well, wait till you see the security deposit that was being demanded by the landlord. Believe it or not, the house had a security deposit of Rs 23,00,000- for an entire year. The man then began to compare the ‘1-year security deposit’ with the security deposits that are typically asked in countries like the US, Canada and UAE- where he stated how even these expensive countries mostly ask for a 1-month deposit.
The post began to circulate online, which drew major reactions. Most were left ‘too stunned to speak’, while some simply called such rates ‘normal’ for landlords in Bengaluru. Times Now could not confirm the authenticity of the post.
“Bengaluru landlords are the greediest in the world. Rs. 23 lakh security deposit (12 months rent) is OUTRAGEOUS meanwhile, deposits in other cities: NYC? 1 month. In Toronto? 1 month. Singapore? 1 month per year of lease SF? 2 months’ Dubai? 5%-10% of annual rent London? 5-6 weeks’,” the post read.
“4BHK house. Rent Rs 2,30,000. Deposit Rs 23,00,000,” the listing read.
The post was shared on X (formerly Twitter), by the handle ‘caleb_friesen2’. The post was shared today and pulled more than 37K views from people.
Check out the viral post:
“12 months is a little greedy maybe. But mostly it is 5-6 months of rent. Low trust in society (unfortunately) and high cost of housing (compared to other cities outside India) is a main reason,” a user said.
“They will also deduct security deposits at the end of the period unfairly,” added a second person. “Same (as global norms) in most other cities in India. Chd/Delhi/Ggn/Hyd everyone does 1 month,” wrote another.
“One makes them greedier, if we simply go without negotiating to a sensible price point with them. I feel that’s what happened to most of these stubborn landlords, few people really paid for what they asked, & the market is now disturbed,” added another person.