In another social media discussion on Bengaluru’s rental housing market, a Reddit post revealed that tenants in the city are paying up to ₹ 38,000 for an unfurnished 1 BHK unit. The discussion started with a certain user asking how are folks in the city shelling out so much for a flat. “Saw a kid from today paying 38K+ in rent for a simple unfurnished 1 BHK in CV Raman Nagar.
So how much are you spending in terms of percentage from your salary as rent?,” the Redditor asked. While CV Raman Nagar is a reasonably upscale neighbourhood in East Bengaluru, a majority of the netizens found the amount unjustified. Many of those engaged in the online discussion are paying between ₹ 20,000 - 30,000 for their 1 BHK or 1 room accommodation (in a 2 BHK/3 BHK unit).
With several of them employed as techies in the city, the rental fee comprises 10-30% of their monthly income. Also Read: Good news for tenants! Bengaluru’s rental housing market records 5-10% average price correction in April-June quarter “I’m paying 23.5K for a 1 room in 3 BHK.
Total rent for the apartment is 70K,” a Redditor wrote. “This is ~10% of my monthly income. Flatmates are in equivalent roles, so household income is ~ 5-7 lpm,” the individual added.
The larger discussion boiled down to a demand-supply dynamic as rationale for high rents in the city. One must pay higher rent to live in close proximity to their workplace and save on commute expenses meanwhile, or take up an apartment in far off lo.