by THO
Bengaluru’s rentals may have hit the roof, but there are still a few areas in the city where one can find apartments for less than ₹30,000 a month. These include pockets in BTM Layout, JP Nagar, and the outskirts of north Bengaluru.
Local brokers said rentals for a 2BHK apartment in suburbs like Kadugodi, Hoodi, and Channasandra have decreased to ₹30,000 to 35,000 from ₹40,000 a year ago.
A significant shift is witnessed among people who want to take a flat on rent. Instead of scouting for options in the prime areas, many are willing to consider apartments in peripheral locations with less rent. Due to metro connectivity, those looking for an apartment in Indiranagar can now consider options in Old Madras Road and KR Puram.
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On average, tenants must pay a security deposit of 6-9 months of rent. For example, for a ₹30,000 monthly rent, the security deposit will be at least ₹1.8 lakh and can go up to ₹2.7 lakh. With more inventory available today, local brokers say landlords are often willing to negotiate to reduce the deposit amounts.
Here are a few areas where you can find apartments for less than ₹30,000 per month.
1. KR Puram
Krishnarajapuram, one of Bengaluru’s prominent eastern suburbs, offers 2 BHK options for less than ₹30,000. The recently launched Krishnarajapura (KR Pura)-Whitefield metro line provides a respite from traffic bottlenecks in the city’s eastern IT corridor.
“This makes KR Puram one of the most sought-after locations for the techies working in Whitefield’s eastern IT corridor. Several standalone apartments can be rented in the area at much cheaper rents,” Sunil Singh, vice president of Realty Corps, said.
2. Outskirts of JP Nagar
Local brokers say that several apartments, such as Phase 6 or Putennnahalli, are available for under ₹30,000 monthly on the outskirts of JP Nagar.
The upcoming metro corridor from JP Nagar 4th Phase to Kempapura in the north has focused attention on the area. While local brokers say the metro corridor may increase real estate prices by 10-20 per cent in JP Nagar, apartment rentals remain affordable.
3. North Bengaluru
Parts of north Bengaluru, like Yeshvanthapur and Hennur, also have 2 BHK apartments available for ₹25,000 to ₹30,000 monthly.
North Bengaluru is closest to the international airport, with Hebbal just a 34-minute drive away.
Local brokers say the key micro-markets, like Hennur Road, Jakkur, Yelahanka, and Hebbal, are the most promising locations for real estate investments.
Micro Markets like Bagalur and Hennur are close to IT hubs such as Manyata and Kirloskar Tech Parks, less than 5-6 km from major educational institutes and hospitals in the north.
NH 44, located close to Devanahalli, which connects Bengaluru with Hyderabad and Mumbai, made it an attractive destination for businesses and investors.
4. Kanakapura Road and outskirts of east Bengaluru
While North Bengaluru remains one of the city’s booming real estate micro markets, several developers are eyeing the potential of Kanakapura Road in the south.
According to local brokers, Kanakapura Road is relatively cheaper than some other parts, making it attractive for investments. However, while the real estate booms, Kanakapura Road has its challenges—the major challenge is that it is farther away and disconnected from the city. So, a daily commute to the city remains challenging for tenants and homebuyers.
Additionally, the outskirts of the eastern IT corridor of Whitefield, like Bagalur, also have 2 BHK apartments for rent under ₹27,000 per month.
It’s cheaper to rent a 1BHK apartment in Bengaluru
In most areas, several 1BHK apartments are rented at ₹15,000- ₹20,000 monthly; in some places, the rents are close to ₹12,000.
Several areas, like BTM Layout and the outskirts of Whitefield and Sarjapura Road, have 1 BHK unit available for ₹20,000. In places like Begur and Haralur, 1 BHK unit can also be found for ₹15,000. However, the inventory is short, so add brokers.
