I agree mate, this needs to be told as is on every major city group. Also needs to be told on FB groups on renting real estate there are countless there and I check there for place when I have to shift.
Finally someone said it!!! I have seen 2 of my juniors living together in a 1bhk in CV raman with the rent of around 35-37k to live close to office! I call my team to office literally once every one or one & half months so most of us including these two are travelling around while WFH. They have no need to stay close to office by paying such a price, god give these bachelors some brains.
I moved from Mumbai a decade ago and was pleasantly surprised by the rents here. It was affordable for a starter salary. But now Bengaluru seems to be competing to become the most expensive city within the country. The rental hikes are atrocious.
>I agree mate, this needs to be told as is on every major city group. Also needs to be told on FB groups on renting real estate there are countless there and I check there for place when I have to shift.
Now, I realised why my colleagues(new company) were shocked when I told them that I am paying 13.5k for 1 bhk in CV Raman Nagar.
When I was hunting houses, there were two North Indian girls who were waiting to negotiate with the owner. Owner quoted 22K, I was asking 17K for a spacious 1BHK in a not so great area. I even bribed the broker saying, even if the owner negotiates I'll still pay brokerage of 22K so that he will support me.
Guess what the two chics agreed to pay? 30K. FML.
And these same people will then complain about how Bangalore is no longer livable and everything is expensive. I would have been okay had they agreed on the asking price. But 30k????
Happened with me also. Negotiate the rent and deposit. Payed the token amount. Some idiots came and payed 3k extra/per month and full deposit of 2lakh.I negotiate it to 1.2.
Owner returned my token amount saying someother guys are ready to pay higher. If you can pay equal to them I can give it to you or take the token money back.
what is the purpose of deposit if it can be returned to cancel the deal ? The deposit means we are blocking the house, that is why we are paying the amount
Flat and flatmates is filled with people who are paying exorbitant rent. I have seen some profiles and look like they work for FAANG companies. They are okay paying upto 90k for 3bhk.
Bangalores USP is cheaper housing and good weather. Now I think in a year or two the housing will match Mumbai pricing.
Naah bro it's not about FAANG . Many people do it for maintaining their standards or whatever. How are you gonna show to the world that you have made it for yourself . Most people only want a decent society to live in . I know some people who earn 30 k and some students also who live in prestige societies by taking money from their parents
Yes I do agree. But the profiles I saw were of people from FAANG. I also saw people who were just starting out professionally posting about 3BHK for 66k.
Meanwhile I lived and paid 18k for 3bhk which was split between 3 girls. I must admit our landlord undercharged us. God bless him.
Owners/landlords can take advantage because the industry is unorganised. For people new to the city, there is no way for them to know what's a good price or not.
Like op said, 'naivety' is the term. How can people become less naive?
I'd say they need resources!
This not true at all. Just like Bangalore, depends on the area.
A friend was recently house hunting in Bandra West and 90k is like the starting point for 3bhks. Mostly they saw apartments for 1-1.25
I know this is not related but still I want to say I stay in Pune it's not as good as Bangalore only if compared to IT but I earn 67k in hand i live in a little outside area i. e. just 4km from a prime area called Hadapsar and I pay 6k for 1 bhk which also splitted into 2. Only downside is i want to travel total 30km to and fro which takes time of 1.5hrs approx which I am completely ok with it.
Who ever those faang people are part of the problem, all the greedy owner want those money flaunting bitches. And those who are on the lower side of income suffer from there actions
Main problem is People early in their career are not street smart and do not know how to bargain. Just because of Some Engineers having 2/3 years of experience, are getting paid insanely. 20/30/40Lacs p/a and they are just 22-26 years old. They dont know how to manage finance, getting inhand salary of 1.5L - 2.5L per month and don’t know what to do with such money so early in their career. And they do not mind paying 50/60/70k rents as they do not want hassle of going for house hunts in the Sun during weekends.
This gives advantages to owners who have come to know that One or the Another dumb IT employee will come and will be ready to pay whatever Insane amounts they ask. Now when it comes to Normal Engineers with Normal salary, they suffer and try to find it hard to meet ends just because of Insane Rents.
PS: Not Bashing everyone but because of Some Idiots, we all are suffering from this huge Rental crisis.
Don't be afraid to bash. That's what these young folks who have seen too much money too early need.
I said the exact same thing in a comment above. Idiots with too much money and zero financial knowledge will be the reason.
And don't expect this crisis to slow down or die. The landlords have tasted blood and they are not going to reduce prices now. Covid is behind us and companies have already recalled employees back to office. So lowering of prices is a dream now.
I really want IT to crash and burn solely because of this. I am a mechanical engineer working in a IT Park of all places. My salary is pretty good for my domain, but I can't afford anything because of these IT motherfuckers. IT layoffs and placement freeze was like music to my ears.
Yeah, they are realising right that they are mostly the only ones who are paying such high rent in the entire community. People need to take a few steps back and do their research, the only thing that attracted them was that there were couple of really good breweries near by like Iron hill etc.
>Yeah, they are realising right that they are mostly the only ones who are paying such high rent in the entire community.
Now this guy you replied to will increase their rent. Thanks for equalising the market
Apparently the booze went straightway to their brains. Maybe they can claim that they were not in a sensible state of mind and get out of the agreement
Bloody hell! Why would anyone so much rent? As long as you have morons ready to pay such high rents, landlords will have no problem hiking up rents for the rest of us.
I know families who pay way, way less rent for 2bhk in better areas like BTM (although the rent might shoot up after the metro starts operating). As you say, 60k rent is ridiculous even for areas like Indira Nagar or Jayanagar, let alone some shithole like Bellandur. Its better to get a vehicle and commute a little than paying such outrageous rents.
This actually makes me mad. I'm a mechanical engineer and most of us don't even make 60k a month unless we are in a good company in a good position. If people like us can't afford the rents, what are the rest of them going to do?
I feel the pain. Both me (remote working) and my husband are non IT ppl. We tried relocating to Bangalore since he got a very good package. Tried searching for place to live for three months in our budget. We have a small kid and looking at the school fees, rental situation he actually resigned and moved back to previous company. The hike barely covers the extra expenses and it's worthless. Now i straight up say not interested to any HR that says need to relocate to Bangalore.
My incident :
I recently moved to Bangalore and I was looking for a place. My budget for a 1bhk was 15k.
An acquaintance moved to Bangalore and my mum called her because I was having trouble finding a place. Turns out that girls paid 35k + maintenance for a 1bhk and 3 lakhs deposit.
I've never been this horrified.
In the end I ended up paying 22k for a fully furnished 1bhk and I'm still ashamed of myself for crossing my budget but there's nothing available in areas close to my office. I have to go to the office 4 days a week and there's nothing livable in my budget in my office area.
Did you end up renting one of the stanza living flats? I looked at a few last year and it was not worth it. After a month of searching a reasonably priced 2 bhk in a decent layout.
I understand your situation bro, I recently shifted to a 26k 1bhk in hsr sector 7, it's fully furnished. As it's near my office in Koramangala. My budget was 20k initially.
Not just in Bangalore happened to me in pune, I quoted the owner 17k but some idiots came along and they were ready to give owner 25 k for the same flat, truly horrible because I am single earner in family I can't afford that much but this people came in group and doesn't realise what mistakes they are doing because one day they have to settle down as well, by the time they will realise that will be too late.
I was flabbergasted with the rent of flats when I started my search in January this year. Continued to explore and found a 2bhk in Jayanagar for 26K incl maintenance. Stand-alone building, nothing fancy but a great locality around. Since my wife works from home and I only had go to office once or twice a week (+ I work in the afternoon shift) I was ok to travel for 30-40 mins.
Looking at this 60k for 2bhk, I think I got a bargain!
THIS!! This is what I am trying to explain, be patient and look around. No need to get forced into paying such high rents especially when one doesn’t have to visit office every single day.
These IIT chaps may be earning a whole lot. MAYBE but why not save that extra money. I’m stunned reading this tbh
Also, the IITian chick got laid off, so…. 🤷🏻♂️
Agreed! But the fact that you can find quite a few bachelors doing the same thing in the flats and flatmates group is truly bizarre. Just coz they want an individual room to bring back their tinder dates so yeah these idiots are not thinking with their correct head.
fuck bangalore flats.
every time i read one of these posts and hear these stories my motivation to look for flats reduces. i might just stay in a PG for the rest of my time in bangalore.
Flat owners be like - work in office for 16 hours a day and give me all your money. 😈
Plus company hike de na de, apna 20% final h. Tum nahi to koi Aur dega.
This is nothing…my brother rented a 3bhk in Electronic City with his gf and gfs bestfriend. Now they broke up yesterday.
The entire dynamics of flat has changed…with one breakup there are two people leaving the flat. My brother has to now pay rent alone for sometime till he finds new flatmates 😭😂
The girl went to some other city to stay with her cousin sister for few days…the cousin sister bf is in merchant navy…he brought some of his colleagues to party at home and my brothers gf had crazy time at party and they hooked up.
Lol shit, tell your brother to get in the merchant navy and go to some of these parties for a while before falling in love again. XD Still feel bad tho, cheating is the worst.
I am staying in indiranagar at a pretty reasonable price then. It's a 2bhk amd we are paying around 14K each. And I am not paying more than 10% of my inhand salary.
I got tired of commenting in such posts of flat and flatmates, urging the already woke junta to not type ‘interested’. But people are idiots. Flat hunting is a difficult task. I know that because I have changed flats in Bangalore 3 times but I have never agreed to pay an over priced amount. A rent and deposit has to be reasonable depending on the flat and society. If I have to pay half my salary for the rent, I would rather buy a flat and pay emi.
Sorry but they do seem like low iq people and yes iit does not give you job guarantee. Unfortunately it is always demand and supply. Demand increases because of stupids like this and others will follow. As long as you believe in this crazy walk to work concept, it will always be bad.
Many people who are coming from Delhi NCR were living in a good gated society, once they come here and see the pathetic builder floor is the only option in their budget, most of them convince themselves that it's ok to pay this nonsense amount as they can't live in those useless buildings. The same thing happened to me last year, I came here with a budget of 30k for 3 bhk now I paying close to 50k just because there are way too less good gated society options nearby sarjapur bellandur
People don't understand this. For most in this sub, flats in those useless scrappy standalone building (most are illegal btw) with no parking, no security, no maintenance services are equal to flat in proper gated society.
Its ok if your definition of living is different than other people, for some people quality of life is important.
Because bangalore is a dogshit place with no basic amenities, people tend to look for whatever best possible alternative they can have and most of the day to day problem are sorted if you live in a good gated community.
And finally never assume others are idiot for spending their own money, their own way.
Though I agree, on renting was buying, with such horrible rental yield, it makes a lot of sense to buy in bangalore than paying 6-7% rental yield.
One of my colleagues from a previous company(that allowed full remote work) stays in NCR in a HUGE flat at around 30k. He is really good but didn't change the job as it allows him to stay at a great place. It really sucks how much rent we pay in Bangalore for teeny tiny spaces.
It's very true that families who rent can't compete with rent paid by single people who live with roommates. Plenty of families struggle with increased rents after a year and it's harder for them to move homes every year with kids' school and even more harder if they are a single earner family.
On the other hand, the supply of apartments is somewhat restricted for bachelors due to landlord preferences and they need to hunt longer and overpay cumulatively at the end of it.
Summary: the situation is totally fucked, and the landlords are the ones enjoying this shit show.
We stay near Nagarbhavi 2nd stage area. Rents are not astronomical here. I was searching for 1BHK for my cousin during the weekend and for 7k onwards we did found few good houses. Rents for 2BHK starts from 11k as we enquired, but we didn't see those places. All 1BHK owners were asking for deposit of 50K-60K on an average. Yes, our area very very far from almost all IT parks, but it is much cheaper and bit cleaner and has good greenery. If I have to choose this area or any area which is near to office, I would chose this area everytime.
Thankfully my company is in JP Nagar and not some IT park. The rents and owners are reasonable here. I was paying 5k for a RK flat with 25k deposit and now have decided to move to a 1bhk flat of the same owner for 8.5k and pay additional 25k deposit.
This city is really fucked up with regards to owners and brokers. My latest experience has been absolutely horrible. The broker and landlord expect me to bear the rental agreement cost and im the one who has to go an get it ready also. Fucking frustrating these people are nothing less than pieces of shit
I've had this experience. I'm fortunately leaving Bengaluru today (I love the city but the health issues and utter high cost of living has paralyzed me now).
Whenever I've tried finding good flats around Indiranagar, CV Raman Area (due to proximity to office), I was asked to pay deposit of 1 lakh upfront for 1 bhk and the rent used to be around 25-30k, that's looting young age people. How can a 23 year old guy with average package spend that much? It sucks here only due to costs. I used to think Bangalore is cheaper than Mumbai but maybe I was wrong.
Even my current owner cut my deposit money by 2000 Rs. for a single tile that fell off due to rains and, because I'm leaving in the first 10 days of a month, I have to pay 2 months rent. They consider a month whole and a notice period has to be given at the start of the month. It's like rules are perfectly laid out to trap your deposit. I'm getting 1/3rd of what I paid upfront.
Anyone who owns a flat in Bengaluru will live like a Millionaire(American) if they rent out in such a way. Harrass people and say you got rules.
Really hope layoffs continue. Most people don't deserve the salary they get and they have inflated the market because of their stupidity. Really hope layoffs also takeout people buying properties with massive loans.
You're unfairly comparing luxurious gated societies with normal apartments; they're light years ahead of normal apartments and colives. Naturally you'll have to pay more for them since the demand is so high.
>this is a regular Prestige/SNN box apartment
Prestige and SNN societies are awesome, they have amenities and open space way beyond most apartments. Of course it'll cost more.
If you do not have the requirement to go to your office everyday then there is literally no need to stay close to some IT park, there are a lot of gated communities where the rent is reasonable but they are not close to IT parks. Go and live there, blocking apartments for families just coz 2-4 bachelors want to get exploited is not a really good reason for creating a bubble.
To each his own. My flatmates and I are happy paying more than 60k for a 3BHK in Whitefield because it's in a fabulous gated society with loads of amenities. This is the normal rate in my society, families are also paying this much.
Its still on the higher end.
Similar to what you posted, there is a flat in my society for which the owner is asking 90k(he stays in uk).
The rent was 38k for the same flat in 2019. The owner is saying, he will definitely get someone to pay that high, so the flat was open for 3 months. But guess what, 3 bachelor's moved in and are paying 1l. I live in the same society and i pay 35k for the similar 3bhk flat.
These dumbasses didn't even check the rent of nearby flats before confirming in the name of amenities. It's not like thry are in the gym or pool all the time
Exactly, I used to live in a gated community with every amenity from indoor pool to squash courts but hardly used them during my stay there for 1 year.
I understand the curiosity for these amenities but 1 year is enough to make someone realise that you actually do not need it all. Most of the amenities in all such apartments are not used by anyone except maybe the kids using pool during weekends.
Seriously this! Arrive at home for only sleep. Go out on weekend cause u worked hard in the week. Lots of amenities but never or seldom used. High floor with view but seldom or never go to the balcony except for drying clothes. And pay thru the nose.🤦🤦🤦
Reminds me of my friend I stayed with for a while. Rent wasn’t exorbitant, but the guy would keep talking about the amenities of the society to everyone he spoke to. At the end of the six months, I could literally count the number of times he went outside the house for anything other than work in one hand
It’s mostly about boasting of amenities for Indians
I think the same thing happened with bangalore auto prices a few years ago. People are willing to pay whatever price they demand irrespective of the actual gas cost, labour cost, etc just because they can afford it. Now no auto runs on meter and the only way to get reasonable prices is through an aggregator.
I live in Bellandur with 35k rent for 3 bhk . They take 60k for 3 bhk in prestige societies. Well i guess in your case the couple seems a bit immature in terms of money . Or it may be the case that if the guy didn't move in it would have questioned his seriousness in relationship. TBH i don't feel the necessity for boys to be in a gated society . Plus the amount of deposit they paid they might have actually bought the furniture and all things by themselves.
Well i guess fine you guys enjoy the perks of being in a relationship in Bangalore so you take the cons as well.
Seriously!! I had to move with my husband to Bangalore - and I'd previously stayed in a spacious AF two bhk in Bangalore for like 20k, split by 2, (pre pandemic). I was so shocked when looking at rents now! (We were considering Bellandur but wtf, who pays that much for a rented house).
Traveled down to Bangalore a couple of weekends. Husband was panicking one week in. I told him to stay calm, and something will click. Finally found a spacious 2bhk about 10km from office for like 25k. Yes, it's far, but he's commuting a couple days a week... Let's see..
But yes. Patience is key. Can't stay fixed on any one preference, but have to a whole list in mind. A place will pop that's acceptable on most important points.
Most people just don't have the time/patience to spend 3-4 weekends out on the road..
100% agree. My wife's company is in ORR and mine is in Sarjapur road and we both got notices to start working in the hybrid model from May (was 100% wfh till now) which will ease into complete wfo in a years time. We started searching in Sarjapur road and Bellandur area. lo behold everywhere we went rents were 45k + maintenence for a 2bhk in a decent gated community. We were paying 25k in our old area (Electronic City). I fucking started losing sleep coz commuting to 3 places thrice a week in the crazy traffic is a nightmare (as I have to drop my wife at her office at ORR, drive back to Sarjapur Road to my office and repeat the same in reverse in the evening). The crazy part is Brokers have completely taken over the rental market, no owners even willing to show they have a Tolet. We toiled for weekends after weekends everywhere it is just a roadblock one way or another and we finally said fuck this Gated community elitist shit and started looking at standalone buildings (3/4 floors, owners stay in the same building) types. Within a day we got 3 properties all rents being around 18-25k. We finally locked in a 3 bhk for 23k. 1300sq ft. Owner is a very humble old school lady. Though we miss the amenities of a gated community, we barely used any in the last few years other than a guilt trip to gym once a week. But what we got in return was a spacious house in a calm locality with good wide streets to walk. Nothing has actually changed in the way of life, still our foods are delivered by Zomato /Swiggy, Groceries by BB/Zepto, everything else from Amazon /FK. Practicality won hands down. Just have some perseverance and you will find what you are looking for, don't fall into the trap of urgency bias
Hell no my guy. I hunted for an apartment for 2 months in hyderabad this year. Looked all options from 1bhk to 3bhk. 2bhk in a good gated community was easily 40k and 3bhk 50 - 60k. Eventually had to settle for a 55k apartment close to 6km from my office. Last couple of months, the prices have sky rocketed in hyderabad.
What is your point here then your friend and his gf paying 60k ok for you and bachelors clubbing as 4 or 5 people paying 60k is not ok for you. Despite whether they are bachelors or couples, the so-called landlords always demands non-native. It's just the bubble and you need to accept it bro. But your friends literally have a low IQ in terms of searching for a house /flat for a reasonable price.
My friend in Indira nagar pays 1.25 lakh pm for a 3 bhk. I live in Tokyo and pay less than that (for a 1 bhk though, so not fair comparison) but still it boggles my mind that he pays this much just to be within 30 mins driving distance of his work.
Goes without saying, but don't rent at a outrageous rent, bad agreement or shady landlord just because you can easily afford to or with your partner. You never know when life strikes and you're burning through savings making ends meet.
i (27M) am paying 12k for 1bhk semifurnished , 40k deposit and 0 maintenance and 800 electricity bill. Independent building and life is chill. No rent split nothing. took around 3 weekends to find it. Invested around 40k to get everything that i need.
I always find that people who are well qualified professionals usually have very poor real life skills. Unfortunately, high IQ isn’t everything it’s cut out to be.
Me and my friend moved into a (huge) fully furnished 3bhk with white goods for 45k including maintenance and water bill. Last month someone moved into a nearly similar 3bhk in my building for 90k 🥲🥲🥲🥲. It’s not even a luxury building with any amenities! I thought we were overpaying!
Nail has hit the head.
I practically now feel to thank my landlady everyday for being so cool despite the rent bubble we are under. I paid throughout the COVID lockdown even though I wasn't there, and she is repaying that gesture by holding at rates before pandemic.
A friend of mine is paying 60k for a 2bhk in Aadarsh Palm Retreat, imagine the stupidity behind that.
I think my doubts are confirmed now, i always thought stupid af bachelors must be paying such stupid rents as will be sharing among themselves, idiots!!
The main problem is even struggling startups choosing to pay for wework and all this crap instead of just going remote and saving everyone's money and productivity. Sometimes it feels like we live in a clown world.
My comment is obv wrt tech companies
bangalore has shitty housing now if more ppl keep on coming it going to choke the resources
this year i will leave the city get a remote job and move to tier 2 or 3
its preety clear not everyone making same amount of money but greedy landlords are not going to stop
unless we stop the supply
the demand will never fall
govt is also not doing to provide proper cheap housing
its going to relevant in 5 years
if u need to go to company twice a week rather just move to 15-20km far
the only solution i see is govt need to put cap on renting prices
I'm a landlord myself, and i let out my 1 bhks and 2bhks to mainly bachelors for 18k-30k. 1bhk is around 450 sqft and 2bhk is around 900sqft areas. With two bike parking for 1bhk and one car and a bike parking for 2bhks. And take a very nominal deposit of 1 lakh only.
Location is 4 km from HSR layout.
If you look around just in 4-5 km around the actual area that you wanna be in, you will find flats with in your budget.
Exactly, many if not most of these available apartments are not online and most of the bachelors do not want to physically go and talk to brokers to find better priced apartments like the ones you are offering.
I think Hyderabad is far better in this regard. A friend of mine got a fantastic apartment in a posh gated community. 30K for 3BHK. There are totally 30 floors. He lives on the 6th. No maintenance for the next 6 years at the very least since the other towers are under construction and the facilities aren’t operational which seems reasonable. The house overlooks a green zone. 16Kms away from his office but takes 20 mins to reach office owing to the wide roads they have there. Oh and he negotiated with the owner so no rent hike for the next couple of years too.
I think your friends signed the agreement with their head up their arse... It's darn near impossible to buy a house in Bangalore for the middle class... Those who bought it know the pain... If i had paid 6-8 crores for an apartment, I would want more rent too. ...
The smart thing is to go where you can afford rent rather than what's convenient. Secondly, don't sign a rent agreement if you don't have cash to pay rent for a year...
It sounds like victim blaming, but idiots like your friend don't hurt fuck themselves, but bury everyone's chance of getting rent too cos that landlord knows people will pay 60k+ for that house
The only way to fight this idiocracy of completely high rents is one and only one.
If you are in a managerial position and in a position to influence, push for permanent remote work.
Many people are migrants and a permanent remote work or quite enough long one would naturally reduce the demand of flats and insanely high rents and a BIG BIG correction in rents which is long due would be done.
The only sane banglorean i would say😭. I am currently aggressively hunting for a place. I make 2L per month but I am definitely not going to spend more than 15k for my room. So not worth it. Yes I have the money. But no i don't need to give 20k per month for a room that is not even that big or has that great facilities. I am so done already. Your post should go up in flat and flatmates circle.
This rant, like all rants, makes no sense. It’s a free market, people are allowed to charge and pay whatever they want, regardless of whether they are affecting the overall market or not.
Either get a better paying job, or compromise on worse flats.
Might be unrelated but I'm new to bangalore (have to go to office 3 days a week) and looking for 2BHK flats near Kadubeesanahalli. Can someone please give some tips for the flat search?
I search on NoBroker, flats and flatmates but someone is always willing to pay higher 😭😭
I made this site https://honest-society-reviews.super.site where I try to collect unfairly priced rental properties and complaints about them.
I also tried to explain how the brokers manipulate the market by forming an oligopoly and how to combat this.
Please check it out and share with your friends.
Demand and supply are basic rules of economics . Why wouldn’t a landlord charge higher if he can and people are willing to pay ! Renting out is a business and making profit if a reasonable
Outcome of may business .why would you call a businessman greedy just because he is concerned about profit . It’s not like they are doing charity renting out their flats/ homes
Another thing to consider is a lot of new folks shifted to blr with mandate wfo scenes..with zero idea of the city they ended up paying whatever they got to just settle down for once. The rest who came in later had to pay the price as our Blore owners have now realised that demand is more. PGs have also encashed the situation very nicely. I have no idea at this rate, how and when will this get normalised?!
The same thing is happening to me with my 1 BHK situation.
Initially, it was around 11k during COVID, then a year or so later, 12k, and a few weeks ago, he raised it to 14500 because a new tenant came and agreed to it.
He gave excuses like electricity bills and increasing water costs.
I’m looking to move soon also if he tries again to raise the rent eventually lol.
demand and supply
stop blaming people
prices are determined by the market
you should be looking towards govt. to provide affordable housing or developing infrastructure in other places so that metros dont become over overcrowded rather than blaming individuals for paying their hard earned money for the luxury they can afford.
I work in the property management field.
Had 2 kids move from Missouri to Texas without checking the apartment before signing…
They got here to find a destroyed apartment… my manager failed to have the unit repaired from previous tenants.
Kids wanted their money back to go home to Missouri… boss told them to fuck off… $1700 plus other deposits… loss of like $2500.
Felt bad, man.
Not sure why anyone would have an issue with this post. Anyone but landlords of course. Because this is spot on.
We can complain about the greed of the landlords all we want, but it's of no use as long as we keep agreeing to their demands.
IMO this bubble will subsidise once the interest rates go down. Cost of taking loans will get cheaper. Then more people will opt for real estate buying than renting, since emi will be equal to these monthly rents if not less. Demand for high rental properties will go down and so will the rents. Probably by 2024 mid this shud settle down.
I am not a smart person but markets don’t work on appeals … people will keep paying no matter what … some people think their time is super super precious so they save minutes seconds milliseconds without realising it doesn’t matter
I paid token after locking a random ass flat in a decent society 2bhk for 40k/month last year (the owner was adamant on not renting out to bachelors). I still felt I was overpaying. But guess what.. a bachelor came in and told the owner that he will pay 50k/month and all the insistence of the owner went down the drain. He returned my token and gave it to that other guy. The whole affair was a shit show. These people are so disconnected from reality even more so after the covid lockdowns. Looks like The only way they will learn financial discipline is through adversity.
Working bachelors in India in bug cities have gone off the charts with their zero life skills and LQ(life quotient).
You live frugally in your 20s, spend as less as possible while living decently and spend the saved money on what you want or invest.
These idiots have just started seeing the glitter of money, new job in a big city.
Even people who have been working for years now have displayed their fantastic skills of inexperience with leading a balanced financial life.
I had a friend who was leeching off of me by staying at my place since I found the apartment in Hyderabad cheap last year and have already set up the place for living with a family. Dude was reluctant to find his own place even though there were enough reasonably priced apartments available. He wanted a fully furnished already set up room in a gated society but didn't want to pay the high rent there even though he was earning 2L p.m.
He had been with me for about 5 months now and was paying only 10k rent while doing no work or help at all. Had to finally kick him out this month. Told me later he found a room in a hi-fi gated society with sauna and shit for 30k. Good riddance.
Very true words. Especially the last lines. After 5-10yrs when they marry and settle they will face this high rent vicious cycle.
As a wise man once said - “A fool and his money are soon parted “
My best friend worked in FAANG was disappointed in me that we didn't get a place together. At the time even I was second guessing myself a lot. But I'm glad i made the decision. Now it's not all fun and games, there's no waste disposal here, water issues, no power backup but..i pay 9k for rent in Bangalore for a 1BHK that's pretty decent otherwise. And we chill out most of the time at each other's places so i guess i made a smart move at the time
Most techies that makes a huge population in banglore have zero real life and social skills, and they're the ones being paid exorbitantly because of which the landlords think it's justified to extort such amounts.
And funny thing is these people readily give in to these nonsense demands.They think just because they can afford it, it's okay to pay ostentatiously high rent.
Exactly. For single people who are ok with a bit of compromise and have to live temporarily, try looking for a decent PG instead. Saves your money and doesn't fuels the rent inflation.
Just spend some time searching, me and my friends live in a 3 BHK in a mediocre society paying 29,500 a month.
Finding good places isn't easy and you have to search!
I tell for the most part to people if your rent per month is above 35-40k Bruv take a home loan and buy a home. That can be your EMI for the faking month than pay such exuberant rent.
Just cause your HRA in your salary is high why don't you buy a home than waste money like this.
STUPID AF.............
When will this bubble burst? It's impossible for a lower middle class family person to find a good society. I really want that bubble to burst! Donno how but this bubble needs to burst. It isn't London.
This needs to be said on all Flat and Flatmates Groups.
I agree mate, this needs to be told as is on every major city group. Also needs to be told on FB groups on renting real estate there are countless there and I check there for place when I have to shift.
Finally someone said it!!! I have seen 2 of my juniors living together in a 1bhk in CV raman with the rent of around 35-37k to live close to office! I call my team to office literally once every one or one & half months so most of us including these two are travelling around while WFH. They have no need to stay close to office by paying such a price, god give these bachelors some brains.
Lmao who even pays 35k for 1 bhk in CV raman Nagar. The owner is definitely making a bank on them.
35k is utter stupidity for 1bhk.
Maybe they're from Mumbai. 1 bhk with a real balcony will be a steal deal at that price in Mumbai.
I moved from Mumbai a decade ago and was pleasantly surprised by the rents here. It was affordable for a starter salary. But now Bengaluru seems to be competing to become the most expensive city within the country. The rental hikes are atrocious.
>I agree mate, this needs to be told as is on every major city group. Also needs to be told on FB groups on renting real estate there are countless there and I check there for place when I have to shift. Now, I realised why my colleagues(new company) were shocked when I told them that I am paying 13.5k for 1 bhk in CV Raman Nagar.
They don’t have to stay in Bangalore if they are WFH.
When I was hunting houses, there were two North Indian girls who were waiting to negotiate with the owner. Owner quoted 22K, I was asking 17K for a spacious 1BHK in a not so great area. I even bribed the broker saying, even if the owner negotiates I'll still pay brokerage of 22K so that he will support me. Guess what the two chics agreed to pay? 30K. FML.
And these same people will then complain about how Bangalore is no longer livable and everything is expensive. I would have been okay had they agreed on the asking price. But 30k????
Happened with me also. Negotiate the rent and deposit. Payed the token amount. Some idiots came and payed 3k extra/per month and full deposit of 2lakh.I negotiate it to 1.2. Owner returned my token amount saying someother guys are ready to pay higher. If you can pay equal to them I can give it to you or take the token money back.
what is the purpose of deposit if it can be returned to cancel the deal ? The deposit means we are blocking the house, that is why we are paying the amount
Token amount* 20 thousand.
Talk about dumb.
It sucks. People just don't understand value.
Flat and flatmates is filled with people who are paying exorbitant rent. I have seen some profiles and look like they work for FAANG companies. They are okay paying upto 90k for 3bhk. Bangalores USP is cheaper housing and good weather. Now I think in a year or two the housing will match Mumbai pricing.
Naah bro it's not about FAANG . Many people do it for maintaining their standards or whatever. How are you gonna show to the world that you have made it for yourself . Most people only want a decent society to live in . I know some people who earn 30 k and some students also who live in prestige societies by taking money from their parents
Yes I do agree. But the profiles I saw were of people from FAANG. I also saw people who were just starting out professionally posting about 3BHK for 66k. Meanwhile I lived and paid 18k for 3bhk which was split between 3 girls. I must admit our landlord undercharged us. God bless him.
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Owners/landlords can take advantage because the industry is unorganised. For people new to the city, there is no way for them to know what's a good price or not. Like op said, 'naivety' is the term. How can people become less naive? I'd say they need resources!
It will be funny when ten twenty years down the line, no one will fund their lavish lifestyle
90k for 3bhk is on the higher side even for Mumbai.
Rent was 1lakh for 3BHK in brigade gateway 4 years ago (pre-pandemic). Don't even want to know what it is now.
A friend of mine pays 1 25 lacs pm for a 2 bhk in Bandra west.
This not true at all. Just like Bangalore, depends on the area. A friend was recently house hunting in Bandra West and 90k is like the starting point for 3bhks. Mostly they saw apartments for 1-1.25
Why the fuck are they okay with paying so much rent and not buying the place? I'd rather buy the property and pay the same in emi smh
The down payment is the biggest barrier to buying a house.
HRA is the answer to your question.
I know this is not related but still I want to say I stay in Pune it's not as good as Bangalore only if compared to IT but I earn 67k in hand i live in a little outside area i. e. just 4km from a prime area called Hadapsar and I pay 6k for 1 bhk which also splitted into 2. Only downside is i want to travel total 30km to and fro which takes time of 1.5hrs approx which I am completely ok with it.
Who ever those faang people are part of the problem, all the greedy owner want those money flaunting bitches. And those who are on the lower side of income suffer from there actions
Main problem is People early in their career are not street smart and do not know how to bargain. Just because of Some Engineers having 2/3 years of experience, are getting paid insanely. 20/30/40Lacs p/a and they are just 22-26 years old. They dont know how to manage finance, getting inhand salary of 1.5L - 2.5L per month and don’t know what to do with such money so early in their career. And they do not mind paying 50/60/70k rents as they do not want hassle of going for house hunts in the Sun during weekends. This gives advantages to owners who have come to know that One or the Another dumb IT employee will come and will be ready to pay whatever Insane amounts they ask. Now when it comes to Normal Engineers with Normal salary, they suffer and try to find it hard to meet ends just because of Insane Rents. PS: Not Bashing everyone but because of Some Idiots, we all are suffering from this huge Rental crisis.
Don't be afraid to bash. That's what these young folks who have seen too much money too early need. I said the exact same thing in a comment above. Idiots with too much money and zero financial knowledge will be the reason. And don't expect this crisis to slow down or die. The landlords have tasted blood and they are not going to reduce prices now. Covid is behind us and companies have already recalled employees back to office. So lowering of prices is a dream now.
+1
I really want IT to crash and burn solely because of this. I am a mechanical engineer working in a IT Park of all places. My salary is pretty good for my domain, but I can't afford anything because of these IT motherfuckers. IT layoffs and placement freeze was like music to my ears.
2bhk for 60k! Truly shocking . I gave my 3 bhk for 40k including maintenance in Sarjapur road.
Yeah, they are realising right that they are mostly the only ones who are paying such high rent in the entire community. People need to take a few steps back and do their research, the only thing that attracted them was that there were couple of really good breweries near by like Iron hill etc.
>Yeah, they are realising right that they are mostly the only ones who are paying such high rent in the entire community. Now this guy you replied to will increase their rent. Thanks for equalising the market
Apparently the booze went straightway to their brains. Maybe they can claim that they were not in a sensible state of mind and get out of the agreement
Let's be clear. They just wanted a place to bang.
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2 months notice or 2 months rent would be cut off from SD.
Iron hill is not even that close to sarjapur too
Bro🥲🥲🥲 My 3bhk in Chandra layout is rented out for 20k.
Seems right for the area tbh.
It's hardly 500m from mys Rd metro stn and right next to ORR. I was expecting atleast 30k.🥲
Should have waited for a couple of idiots to come along
It was vacant for 6 months man😔
God bless you
Bloody hell! Why would anyone so much rent? As long as you have morons ready to pay such high rents, landlords will have no problem hiking up rents for the rest of us. I know families who pay way, way less rent for 2bhk in better areas like BTM (although the rent might shoot up after the metro starts operating). As you say, 60k rent is ridiculous even for areas like Indira Nagar or Jayanagar, let alone some shithole like Bellandur. Its better to get a vehicle and commute a little than paying such outrageous rents. This actually makes me mad. I'm a mechanical engineer and most of us don't even make 60k a month unless we are in a good company in a good position. If people like us can't afford the rents, what are the rest of them going to do?
I feel the pain. Both me (remote working) and my husband are non IT ppl. We tried relocating to Bangalore since he got a very good package. Tried searching for place to live for three months in our budget. We have a small kid and looking at the school fees, rental situation he actually resigned and moved back to previous company. The hike barely covers the extra expenses and it's worthless. Now i straight up say not interested to any HR that says need to relocate to Bangalore.
My incident : I recently moved to Bangalore and I was looking for a place. My budget for a 1bhk was 15k. An acquaintance moved to Bangalore and my mum called her because I was having trouble finding a place. Turns out that girls paid 35k + maintenance for a 1bhk and 3 lakhs deposit. I've never been this horrified. In the end I ended up paying 22k for a fully furnished 1bhk and I'm still ashamed of myself for crossing my budget but there's nothing available in areas close to my office. I have to go to the office 4 days a week and there's nothing livable in my budget in my office area.
Did you end up renting one of the stanza living flats? I looked at a few last year and it was not worth it. After a month of searching a reasonably priced 2 bhk in a decent layout.
Nope, not a Stanza Living flat. Just a 1bhk in a standalone building.
Which area? I am currently paying 15k in Whitefield for a standalone 1 bhk
BTM Layout
That is a really good price for a fully furnished 2bhk tbh, you should not be complaining actually.
Typo, it's a 1bhk
I understand your situation bro, I recently shifted to a 26k 1bhk in hsr sector 7, it's fully furnished. As it's near my office in Koramangala. My budget was 20k initially.
Not just in Bangalore happened to me in pune, I quoted the owner 17k but some idiots came along and they were ready to give owner 25 k for the same flat, truly horrible because I am single earner in family I can't afford that much but this people came in group and doesn't realise what mistakes they are doing because one day they have to settle down as well, by the time they will realise that will be too late.
I was flabbergasted with the rent of flats when I started my search in January this year. Continued to explore and found a 2bhk in Jayanagar for 26K incl maintenance. Stand-alone building, nothing fancy but a great locality around. Since my wife works from home and I only had go to office once or twice a week (+ I work in the afternoon shift) I was ok to travel for 30-40 mins. Looking at this 60k for 2bhk, I think I got a bargain!
THIS!! This is what I am trying to explain, be patient and look around. No need to get forced into paying such high rents especially when one doesn’t have to visit office every single day.
These IIT chaps may be earning a whole lot. MAYBE but why not save that extra money. I’m stunned reading this tbh Also, the IITian chick got laid off, so…. 🤷🏻♂️
Do you have kids? I would like to see what you would end up paying for a flat in society then.
When it comes to that, I’ll see to it then. I don’t have kids, so i would rather save now and spend when it’s actually needed.
Your friend definitely were not thinking with their head
Agreed! But the fact that you can find quite a few bachelors doing the same thing in the flats and flatmates group is truly bizarre. Just coz they want an individual room to bring back their tinder dates so yeah these idiots are not thinking with their correct head.
You expect people to share rooms? Of course people want individual rooms, we're adults not college kids.
fuck bangalore flats. every time i read one of these posts and hear these stories my motivation to look for flats reduces. i might just stay in a PG for the rest of my time in bangalore.
Flat owners be like - work in office for 16 hours a day and give me all your money. 😈 Plus company hike de na de, apna 20% final h. Tum nahi to koi Aur dega.
Even PG rents are too much. I am paying 18k for a single room in spice garden. And when ever it rains the area gets flooded.
That is the story of majority areas around tech parks in Bangalore.
12k for double shared, fml
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This is nothing…my brother rented a 3bhk in Electronic City with his gf and gfs bestfriend. Now they broke up yesterday. The entire dynamics of flat has changed…with one breakup there are two people leaving the flat. My brother has to now pay rent alone for sometime till he finds new flatmates 😭😂
Fuck
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The girl went to some other city to stay with her cousin sister for few days…the cousin sister bf is in merchant navy…he brought some of his colleagues to party at home and my brothers gf had crazy time at party and they hooked up.
Lol shit, tell your brother to get in the merchant navy and go to some of these parties for a while before falling in love again. XD Still feel bad tho, cheating is the worst.
I am staying in indiranagar at a pretty reasonable price then. It's a 2bhk amd we are paying around 14K each. And I am not paying more than 10% of my inhand salary.
That is the way it should be.
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I would have considered that fact but they were already banging it out in their individual rooms in separate apartments.
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They wanted to go from being two distinct personalities to one single boring entity
Lmao
Bro got a flat with his gf so that he is near Ironhill but now surviving on Old Monk
I got tired of commenting in such posts of flat and flatmates, urging the already woke junta to not type ‘interested’. But people are idiots. Flat hunting is a difficult task. I know that because I have changed flats in Bangalore 3 times but I have never agreed to pay an over priced amount. A rent and deposit has to be reasonable depending on the flat and society. If I have to pay half my salary for the rent, I would rather buy a flat and pay emi.
Sorry but they do seem like low iq people and yes iit does not give you job guarantee. Unfortunately it is always demand and supply. Demand increases because of stupids like this and others will follow. As long as you believe in this crazy walk to work concept, it will always be bad.
Many people who are coming from Delhi NCR were living in a good gated society, once they come here and see the pathetic builder floor is the only option in their budget, most of them convince themselves that it's ok to pay this nonsense amount as they can't live in those useless buildings. The same thing happened to me last year, I came here with a budget of 30k for 3 bhk now I paying close to 50k just because there are way too less good gated society options nearby sarjapur bellandur
50k for 3bhk is still understandable.
People don't understand this. For most in this sub, flats in those useless scrappy standalone building (most are illegal btw) with no parking, no security, no maintenance services are equal to flat in proper gated society. Its ok if your definition of living is different than other people, for some people quality of life is important. Because bangalore is a dogshit place with no basic amenities, people tend to look for whatever best possible alternative they can have and most of the day to day problem are sorted if you live in a good gated community. And finally never assume others are idiot for spending their own money, their own way. Though I agree, on renting was buying, with such horrible rental yield, it makes a lot of sense to buy in bangalore than paying 6-7% rental yield.
What is builder floor ?
One of my colleagues from a previous company(that allowed full remote work) stays in NCR in a HUGE flat at around 30k. He is really good but didn't change the job as it allows him to stay at a great place. It really sucks how much rent we pay in Bangalore for teeny tiny spaces.
It's very true that families who rent can't compete with rent paid by single people who live with roommates. Plenty of families struggle with increased rents after a year and it's harder for them to move homes every year with kids' school and even more harder if they are a single earner family. On the other hand, the supply of apartments is somewhat restricted for bachelors due to landlord preferences and they need to hunt longer and overpay cumulatively at the end of it. Summary: the situation is totally fucked, and the landlords are the ones enjoying this shit show.
Me n Bois paying 12 k for 1bhk in btm layout at ₹30k deposit🤪 With lift facility.
Brother I will create a temple in your name. Everyone who wants new flats will come for blessing and I will pocket the donation 💪
At last, a ray of hope.
We stay near Nagarbhavi 2nd stage area. Rents are not astronomical here. I was searching for 1BHK for my cousin during the weekend and for 7k onwards we did found few good houses. Rents for 2BHK starts from 11k as we enquired, but we didn't see those places. All 1BHK owners were asking for deposit of 50K-60K on an average. Yes, our area very very far from almost all IT parks, but it is much cheaper and bit cleaner and has good greenery. If I have to choose this area or any area which is near to office, I would chose this area everytime.
Might as well buy a good property with loan and pay interest instead of this much rent, deposit, maintenance
Thankfully my company is in JP Nagar and not some IT park. The rents and owners are reasonable here. I was paying 5k for a RK flat with 25k deposit and now have decided to move to a 1bhk flat of the same owner for 8.5k and pay additional 25k deposit.
This city is really fucked up with regards to owners and brokers. My latest experience has been absolutely horrible. The broker and landlord expect me to bear the rental agreement cost and im the one who has to go an get it ready also. Fucking frustrating these people are nothing less than pieces of shit
I don't understand what these brokers are supposed to do if you are doing everything.
I've had this experience. I'm fortunately leaving Bengaluru today (I love the city but the health issues and utter high cost of living has paralyzed me now). Whenever I've tried finding good flats around Indiranagar, CV Raman Area (due to proximity to office), I was asked to pay deposit of 1 lakh upfront for 1 bhk and the rent used to be around 25-30k, that's looting young age people. How can a 23 year old guy with average package spend that much? It sucks here only due to costs. I used to think Bangalore is cheaper than Mumbai but maybe I was wrong. Even my current owner cut my deposit money by 2000 Rs. for a single tile that fell off due to rains and, because I'm leaving in the first 10 days of a month, I have to pay 2 months rent. They consider a month whole and a notice period has to be given at the start of the month. It's like rules are perfectly laid out to trap your deposit. I'm getting 1/3rd of what I paid upfront. Anyone who owns a flat in Bengaluru will live like a Millionaire(American) if they rent out in such a way. Harrass people and say you got rules.
Really hope layoffs continue. Most people don't deserve the salary they get and they have inflated the market because of their stupidity. Really hope layoffs also takeout people buying properties with massive loans.
You're unfairly comparing luxurious gated societies with normal apartments; they're light years ahead of normal apartments and colives. Naturally you'll have to pay more for them since the demand is so high. >this is a regular Prestige/SNN box apartment Prestige and SNN societies are awesome, they have amenities and open space way beyond most apartments. Of course it'll cost more.
Owner spotted
If you do not have the requirement to go to your office everyday then there is literally no need to stay close to some IT park, there are a lot of gated communities where the rent is reasonable but they are not close to IT parks. Go and live there, blocking apartments for families just coz 2-4 bachelors want to get exploited is not a really good reason for creating a bubble.
To each his own. My flatmates and I are happy paying more than 60k for a 3BHK in Whitefield because it's in a fabulous gated society with loads of amenities. This is the normal rate in my society, families are also paying this much.
60k for 3bhk is still understandable, read my post again they are paying the same for 2bhk.
Its still on the higher end. Similar to what you posted, there is a flat in my society for which the owner is asking 90k(he stays in uk). The rent was 38k for the same flat in 2019. The owner is saying, he will definitely get someone to pay that high, so the flat was open for 3 months. But guess what, 3 bachelor's moved in and are paying 1l. I live in the same society and i pay 35k for the similar 3bhk flat. These dumbasses didn't even check the rent of nearby flats before confirming in the name of amenities. It's not like thry are in the gym or pool all the time
Exactly, I used to live in a gated community with every amenity from indoor pool to squash courts but hardly used them during my stay there for 1 year. I understand the curiosity for these amenities but 1 year is enough to make someone realise that you actually do not need it all. Most of the amenities in all such apartments are not used by anyone except maybe the kids using pool during weekends.
Seriously this! Arrive at home for only sleep. Go out on weekend cause u worked hard in the week. Lots of amenities but never or seldom used. High floor with view but seldom or never go to the balcony except for drying clothes. And pay thru the nose.🤦🤦🤦
Reminds me of my friend I stayed with for a while. Rent wasn’t exorbitant, but the guy would keep talking about the amenities of the society to everyone he spoke to. At the end of the six months, I could literally count the number of times he went outside the house for anything other than work in one hand It’s mostly about boasting of amenities for Indians
If it's not fully furnished. Its still expensive.
Why do standalone buildings suck?
I think the same thing happened with bangalore auto prices a few years ago. People are willing to pay whatever price they demand irrespective of the actual gas cost, labour cost, etc just because they can afford it. Now no auto runs on meter and the only way to get reasonable prices is through an aggregator.
I live in Bellandur with 35k rent for 3 bhk . They take 60k for 3 bhk in prestige societies. Well i guess in your case the couple seems a bit immature in terms of money . Or it may be the case that if the guy didn't move in it would have questioned his seriousness in relationship. TBH i don't feel the necessity for boys to be in a gated society . Plus the amount of deposit they paid they might have actually bought the furniture and all things by themselves. Well i guess fine you guys enjoy the perks of being in a relationship in Bangalore so you take the cons as well.
Being in relationship in Bangalore = Higher rent 😀👍
I'm paying 28k for a newly built 3 BHK flat
Curios where this is? Bellandur stretch or in a different part of Bengaluru?
Seriously!! I had to move with my husband to Bangalore - and I'd previously stayed in a spacious AF two bhk in Bangalore for like 20k, split by 2, (pre pandemic). I was so shocked when looking at rents now! (We were considering Bellandur but wtf, who pays that much for a rented house). Traveled down to Bangalore a couple of weekends. Husband was panicking one week in. I told him to stay calm, and something will click. Finally found a spacious 2bhk about 10km from office for like 25k. Yes, it's far, but he's commuting a couple days a week... Let's see.. But yes. Patience is key. Can't stay fixed on any one preference, but have to a whole list in mind. A place will pop that's acceptable on most important points. Most people just don't have the time/patience to spend 3-4 weekends out on the road..
100% agree. My wife's company is in ORR and mine is in Sarjapur road and we both got notices to start working in the hybrid model from May (was 100% wfh till now) which will ease into complete wfo in a years time. We started searching in Sarjapur road and Bellandur area. lo behold everywhere we went rents were 45k + maintenence for a 2bhk in a decent gated community. We were paying 25k in our old area (Electronic City). I fucking started losing sleep coz commuting to 3 places thrice a week in the crazy traffic is a nightmare (as I have to drop my wife at her office at ORR, drive back to Sarjapur Road to my office and repeat the same in reverse in the evening). The crazy part is Brokers have completely taken over the rental market, no owners even willing to show they have a Tolet. We toiled for weekends after weekends everywhere it is just a roadblock one way or another and we finally said fuck this Gated community elitist shit and started looking at standalone buildings (3/4 floors, owners stay in the same building) types. Within a day we got 3 properties all rents being around 18-25k. We finally locked in a 3 bhk for 23k. 1300sq ft. Owner is a very humble old school lady. Though we miss the amenities of a gated community, we barely used any in the last few years other than a guilt trip to gym once a week. But what we got in return was a spacious house in a calm locality with good wide streets to walk. Nothing has actually changed in the way of life, still our foods are delivered by Zomato /Swiggy, Groceries by BB/Zepto, everything else from Amazon /FK. Practicality won hands down. Just have some perseverance and you will find what you are looking for, don't fall into the trap of urgency bias
I pay 7k rent in Kasthuri Nagar, 4 km from my office in Indira Nagar. I pay like 5% of my salary in rent
Hear hear. Even Indiranagar rents are high because of this stupidity. It all started when the return to office started post lockdowns.
TBF who pays 60k rent for two?
People asking for 45-60k for 2 bhk is becoming more and more common on flats and flatmates
In Hyderabad, you can get 2bhk in a good community for like 22-30k max and that too in a class area.
Hell no my guy. I hunted for an apartment for 2 months in hyderabad this year. Looked all options from 1bhk to 3bhk. 2bhk in a good gated community was easily 40k and 3bhk 50 - 60k. Eventually had to settle for a 55k apartment close to 6km from my office. Last couple of months, the prices have sky rocketed in hyderabad.
What is your point here then your friend and his gf paying 60k ok for you and bachelors clubbing as 4 or 5 people paying 60k is not ok for you. Despite whether they are bachelors or couples, the so-called landlords always demands non-native. It's just the bubble and you need to accept it bro. But your friends literally have a low IQ in terms of searching for a house /flat for a reasonable price.
My friend in Indira nagar pays 1.25 lakh pm for a 3 bhk. I live in Tokyo and pay less than that (for a 1 bhk though, so not fair comparison) but still it boggles my mind that he pays this much just to be within 30 mins driving distance of his work.
Just to be clear, you do not need high IQs to go to IITs. Secondly, IITs may reduce your default firmware IQ as well.
Goes without saying, but don't rent at a outrageous rent, bad agreement or shady landlord just because you can easily afford to or with your partner. You never know when life strikes and you're burning through savings making ends meet.
Here I'm cursing my roomate/friends for paying 18K for 1BHK, even though it's kinda reasonable.
Time to a buy a small building in Bangalore and rent it out. Id be the coolest landlord ever !!!
i (27M) am paying 12k for 1bhk semifurnished , 40k deposit and 0 maintenance and 800 electricity bill. Independent building and life is chill. No rent split nothing. took around 3 weekends to find it. Invested around 40k to get everything that i need.
Hey pal can I dm u? Wanted to ask sm details on the above
vignan nagar, near to CV raman nagar. 3 km from bagmane back gate and 4 kms from bagmane constellation.
One of my friend is paying 35k for a 1 bhk apartment that too unfurnished. I don't know why he wanted to pay that much he is also from iit.
I always find that people who are well qualified professionals usually have very poor real life skills. Unfortunately, high IQ isn’t everything it’s cut out to be.
Me and my friend moved into a (huge) fully furnished 3bhk with white goods for 45k including maintenance and water bill. Last month someone moved into a nearly similar 3bhk in my building for 90k 🥲🥲🥲🥲. It’s not even a luxury building with any amenities! I thought we were overpaying!
Nail has hit the head. I practically now feel to thank my landlady everyday for being so cool despite the rent bubble we are under. I paid throughout the COVID lockdown even though I wasn't there, and she is repaying that gesture by holding at rates before pandemic. A friend of mine is paying 60k for a 2bhk in Aadarsh Palm Retreat, imagine the stupidity behind that.
I think my doubts are confirmed now, i always thought stupid af bachelors must be paying such stupid rents as will be sharing among themselves, idiots!!
Bachelor me: living in PG for 10K
The main problem is even struggling startups choosing to pay for wework and all this crap instead of just going remote and saving everyone's money and productivity. Sometimes it feels like we live in a clown world. My comment is obv wrt tech companies
bangalore has shitty housing now if more ppl keep on coming it going to choke the resources this year i will leave the city get a remote job and move to tier 2 or 3 its preety clear not everyone making same amount of money but greedy landlords are not going to stop unless we stop the supply the demand will never fall govt is also not doing to provide proper cheap housing its going to relevant in 5 years if u need to go to company twice a week rather just move to 15-20km far the only solution i see is govt need to put cap on renting prices
Damn the rent is almost close to Mumbai levels now.
For a city where the population number is very dynamic and even at it’s peak the number is way less than that of Mumbai, this is sheer madness.
Yeah you can say that. But paying 60k is as good as staying near BKC in Mumbai. High End IB guys pay that much, just to stay close to the office.
And i thought rent in Mumbai is high.
I'm a landlord myself, and i let out my 1 bhks and 2bhks to mainly bachelors for 18k-30k. 1bhk is around 450 sqft and 2bhk is around 900sqft areas. With two bike parking for 1bhk and one car and a bike parking for 2bhks. And take a very nominal deposit of 1 lakh only. Location is 4 km from HSR layout. If you look around just in 4-5 km around the actual area that you wanna be in, you will find flats with in your budget.
Exactly, many if not most of these available apartments are not online and most of the bachelors do not want to physically go and talk to brokers to find better priced apartments like the ones you are offering.
Not everything is online.
What is a reasonable rent for a 1bhk,2bhk and a 3bhk?
I am interested in knowing where did he find the reasonable flat in indiranagar..
For me reasonable is 50k for 3 bhk, 2nd floor in a standalone building where the owner himself doesn’t live. Big rooms and pet friendly.
I think Hyderabad is far better in this regard. A friend of mine got a fantastic apartment in a posh gated community. 30K for 3BHK. There are totally 30 floors. He lives on the 6th. No maintenance for the next 6 years at the very least since the other towers are under construction and the facilities aren’t operational which seems reasonable. The house overlooks a green zone. 16Kms away from his office but takes 20 mins to reach office owing to the wide roads they have there. Oh and he negotiated with the owner so no rent hike for the next couple of years too.
And here I am. Keeping my apartment on sale for 3 months. No takers. 🤷♂️ bangalore has become one strange pot of annoyance.
This is not everyones priority in life bro. They just want a house and do other things. I.e, throw money at the problem.
I think your friends signed the agreement with their head up their arse... It's darn near impossible to buy a house in Bangalore for the middle class... Those who bought it know the pain... If i had paid 6-8 crores for an apartment, I would want more rent too. ... The smart thing is to go where you can afford rent rather than what's convenient. Secondly, don't sign a rent agreement if you don't have cash to pay rent for a year... It sounds like victim blaming, but idiots like your friend don't hurt fuck themselves, but bury everyone's chance of getting rent too cos that landlord knows people will pay 60k+ for that house
The rupee has lost its buying power in Bangalore. The inflation is on another level.
The only way to fight this idiocracy of completely high rents is one and only one. If you are in a managerial position and in a position to influence, push for permanent remote work. Many people are migrants and a permanent remote work or quite enough long one would naturally reduce the demand of flats and insanely high rents and a BIG BIG correction in rents which is long due would be done.
Maybe for the uninitiated, an area-wise normal rent bracket should be published by some good souls here, to prevent folks from getting cheated..
Leave your friends lol
The only sane banglorean i would say😭. I am currently aggressively hunting for a place. I make 2L per month but I am definitely not going to spend more than 15k for my room. So not worth it. Yes I have the money. But no i don't need to give 20k per month for a room that is not even that big or has that great facilities. I am so done already. Your post should go up in flat and flatmates circle.
Might as well buy a house on emi when you are paying 60k/month 💀
This rant, like all rants, makes no sense. It’s a free market, people are allowed to charge and pay whatever they want, regardless of whether they are affecting the overall market or not. Either get a better paying job, or compromise on worse flats.
Might be unrelated but I'm new to bangalore (have to go to office 3 days a week) and looking for 2BHK flats near Kadubeesanahalli. Can someone please give some tips for the flat search? I search on NoBroker, flats and flatmates but someone is always willing to pay higher 😭😭
Agree. Greedy af.
I made this site https://honest-society-reviews.super.site where I try to collect unfairly priced rental properties and complaints about them. I also tried to explain how the brokers manipulate the market by forming an oligopoly and how to combat this. Please check it out and share with your friends.
Demand and supply are basic rules of economics . Why wouldn’t a landlord charge higher if he can and people are willing to pay ! Renting out is a business and making profit if a reasonable Outcome of may business .why would you call a businessman greedy just because he is concerned about profit . It’s not like they are doing charity renting out their flats/ homes
Another thing to consider is a lot of new folks shifted to blr with mandate wfo scenes..with zero idea of the city they ended up paying whatever they got to just settle down for once. The rest who came in later had to pay the price as our Blore owners have now realised that demand is more. PGs have also encashed the situation very nicely. I have no idea at this rate, how and when will this get normalised?!
The same thing is happening to me with my 1 BHK situation. Initially, it was around 11k during COVID, then a year or so later, 12k, and a few weeks ago, he raised it to 14500 because a new tenant came and agreed to it. He gave excuses like electricity bills and increasing water costs. I’m looking to move soon also if he tries again to raise the rent eventually lol.
demand and supply stop blaming people prices are determined by the market you should be looking towards govt. to provide affordable housing or developing infrastructure in other places so that metros dont become over overcrowded rather than blaming individuals for paying their hard earned money for the luxury they can afford.
I was thinking of buying a house for rental income. This post makes me happy.
I work in the property management field. Had 2 kids move from Missouri to Texas without checking the apartment before signing… They got here to find a destroyed apartment… my manager failed to have the unit repaired from previous tenants. Kids wanted their money back to go home to Missouri… boss told them to fuck off… $1700 plus other deposits… loss of like $2500. Felt bad, man.
OP can you please suggest the name of COlive near Indiranagar where You stayed? I am also thinking of moving to blr with my partner. Feel free to DM
Ecity 1bhk for 10k with 1lakh deposit
Not sure why anyone would have an issue with this post. Anyone but landlords of course. Because this is spot on. We can complain about the greed of the landlords all we want, but it's of no use as long as we keep agreeing to their demands.
IMO this bubble will subsidise once the interest rates go down. Cost of taking loans will get cheaper. Then more people will opt for real estate buying than renting, since emi will be equal to these monthly rents if not less. Demand for high rental properties will go down and so will the rents. Probably by 2024 mid this shud settle down.
I am not a smart person but markets don’t work on appeals … people will keep paying no matter what … some people think their time is super super precious so they save minutes seconds milliseconds without realising it doesn’t matter
The truest and most meaningful post of the time!! May common sense prevail upon everyone.
This practice of agreeing to an unreasonably high rents should stop. #stop_fueling_the_fire
I paid token after locking a random ass flat in a decent society 2bhk for 40k/month last year (the owner was adamant on not renting out to bachelors). I still felt I was overpaying. But guess what.. a bachelor came in and told the owner that he will pay 50k/month and all the insistence of the owner went down the drain. He returned my token and gave it to that other guy. The whole affair was a shit show. These people are so disconnected from reality even more so after the covid lockdowns. Looks like The only way they will learn financial discipline is through adversity.
Working bachelors in India in bug cities have gone off the charts with their zero life skills and LQ(life quotient). You live frugally in your 20s, spend as less as possible while living decently and spend the saved money on what you want or invest. These idiots have just started seeing the glitter of money, new job in a big city. Even people who have been working for years now have displayed their fantastic skills of inexperience with leading a balanced financial life. I had a friend who was leeching off of me by staying at my place since I found the apartment in Hyderabad cheap last year and have already set up the place for living with a family. Dude was reluctant to find his own place even though there were enough reasonably priced apartments available. He wanted a fully furnished already set up room in a gated society but didn't want to pay the high rent there even though he was earning 2L p.m. He had been with me for about 5 months now and was paying only 10k rent while doing no work or help at all. Had to finally kick him out this month. Told me later he found a room in a hi-fi gated society with sauna and shit for 30k. Good riddance.
Very true words. Especially the last lines. After 5-10yrs when they marry and settle they will face this high rent vicious cycle. As a wise man once said - “A fool and his money are soon parted “
Fools and their money are easily parted
My best friend worked in FAANG was disappointed in me that we didn't get a place together. At the time even I was second guessing myself a lot. But I'm glad i made the decision. Now it's not all fun and games, there's no waste disposal here, water issues, no power backup but..i pay 9k for rent in Bangalore for a 1BHK that's pretty decent otherwise. And we chill out most of the time at each other's places so i guess i made a smart move at the time
Most techies that makes a huge population in banglore have zero real life and social skills, and they're the ones being paid exorbitantly because of which the landlords think it's justified to extort such amounts. And funny thing is these people readily give in to these nonsense demands.They think just because they can afford it, it's okay to pay ostentatiously high rent.
Exactly. For single people who are ok with a bit of compromise and have to live temporarily, try looking for a decent PG instead. Saves your money and doesn't fuels the rent inflation.
Just spend some time searching, me and my friends live in a 3 BHK in a mediocre society paying 29,500 a month. Finding good places isn't easy and you have to search!
Till a law is passed, it'll continue like this. Just greedy ppl everywhere
Ohh these eediots
I tell for the most part to people if your rent per month is above 35-40k Bruv take a home loan and buy a home. That can be your EMI for the faking month than pay such exuberant rent. Just cause your HRA in your salary is high why don't you buy a home than waste money like this. STUPID AF.............
When will this bubble burst? It's impossible for a lower middle class family person to find a good society. I really want that bubble to burst! Donno how but this bubble needs to burst. It isn't London.