by THO
Bengaluru’s surging rental market has made house-hunting a daunting challenge for newcomers, prompting some to quip that finding love in the city is easier than securing an apartment on rent IT professional Himanshi Chhablani recently took to Facebook to share her challenges navigating Bengaluru’s skyrocketing rental market.
“Someone told me that finding love here is easier than finding a good house. I am looking for a room in a pre-occupied 2BHK/3BHK apartment or penthouse in and around Indiranagar,” she wrote in a Facebook post.
It has been over twenty days since Chhablani relocated from Mumbai and began searching for a rental apartment in Bengaluru. Speaking to HT.com, she said, “More than just flatmates, I would love to find girlfriends—people to create an aesthetic, cozy home with and go on coffee runs during life crises.”
Since 2023, high-demand areas like Koramangala, Sarjapur Road, Whitefield, and Bellandur have witnessed rent hikes of up to 35% annually, making it increasingly difficult for newcomers like Chhablani to find affordable housing in the city.
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Prime areas in Bengaluru command high rentals
Real estate brokers report that rental prices in Bengaluru’s prime locations have soared. 3BHK apartments start at ₹1.5 lakh per month, while purchasing an apartment in these areas typically costs between ₹3-4 crore.
In sought-after neighborhoods like Koramangala and Indiranagar, rentals in gated communities for a 2BHK can exceed ₹65,000 per month, with security deposits ranging between ₹3-4 lakh.
For independent houses, 3BHK rentals in Koramangala range from ₹1.5 lakh to ₹2 lakh per month, depending on the location.
In Indiranagar, a 1BHK apartment (400-450 sq. ft.) rents for ₹20,000 to ₹25,000 per month, while fully furnished units command around ₹30,000. A 2BHK starts at ₹40,000 per month and goes up to ₹60,000, depending on the property.
This surge in rental prices is driven by landlords looking to recover pandemic losses and the rising demand as employees return to in-office work.
“Additionally, no land is available for new housing inventories in prime areas. This has created a mismatch between growing demand and limited rental supply, further inflating real estate costs,” said Kiran Kumar, Vice President of Hanu Reddy Realty.
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Affordable rental options in Bengaluru
While rental prices in Bengaluru’s prime locations continue to soar, more budget-friendly options are available on the city’s outskirts.
According to local brokers, the outskirts of Whitefield offer 2BHK units for around ₹25,000– ₹27,000 per month, though these properties are located farther from the prime Whitefield area.
In BTM Layout, which borders Koramangala and Whitefield, 1BHK apartments are available for ₹15,000– ₹20,000 per month, with some options as low as ₹12,000.
For affordable 2BHK rentals, Krishnarajapuram (KR Puram)—one of Bengaluru’s key eastern suburbs—offers options under ₹30,000 per month. The newly launched KR Puram–Whitefield metro line has further improved connectivity, making it a convenient choice for commuters in the eastern IT corridor.
Additionally, brokers highlight areas like Phase 6 and Puttenahalli on the outskirts of JP Nagar in South Bengaluru, where apartments are also available for under ₹30,000 per month.
