Bengaluru residents are grappling with a severe housing crisis, as property prices and rents have surged dramatically. A Reddit user’s post detailing their ‘nightmare’ search for a 2BHK went viral, highlighting flats costing ₹2 crore and rents exceeding ₹70,000, even in areas with significant infrastructure problems.
Many Bengaluru residents are struggling to afford housing, since rents and property prices have risen substantially in recent years. A resident expressed displeasure on Reddit, calling the hunt for a 2BHK property in the city as a “nightmare”. The post’s caption says, “Where is BLR real estate going?”
Over the past three years, the resident has seen the price of a flat rise from ₹1.4 crore to ₹2 crore, despite various downsides. The flat, according to the resident, is located next to a major drain and has a number of difficulties, but its closeness to the Outer Ring Road (ORR) and surrounding IT businesses keeps demand strong.
Even renting hasn’t provided any respite. Rents for identical 2BHK flats have increased dramatically, with residents now paying more over ₹70,000 per month.
“We were also okay with renting, but in the last three years, rents have skyrocketed. Today, individuals are paying more than $70,000 for the same unit, and I am astounded!” the resident wrote.
The tenant indicated that they intended to save enough money to buy a flat within three to four years. However, the rapid increase in house prices has made it impossible to keep up.
“All the societies are running on tankers, and roads are barely there. It does not feel worth it to pay this much amount,” the resident wrote. The problem is much more pronounced in certain housing communities. A local said that 2BHK flats in certain areas are selling for roughly ₹2.5 crore, with inventories having sold out.
Check Out Viral Post
For the resident, the mismatch between rising costs and existing concerns has made the thought of purchasing a home appear increasingly unrealistic.
How Did Social Media React?
Reddit users responded angrily to the message, with many sharing similar concerns about Bengaluru’s growing property prices. Several users reported that such high rents and housing prices had become commonplace in locations near IT clusters.
One of the users wrote, “Rent and chill.” A second person added, “I wonder which techie is buying a flat in the face of AI coming for software jobs.”
A third commenter added, “Don’t wait for the bubble to burst, get a roof over your head.” “Finding a suitable 2BHK in Bengaluru might be challenging. Prices are ridiculous, and competition is fierce,” another user said.