It has been over a year since Gourab Patra, founder of an ad-tech startup in Bengaluru, moved to HSR Layout in the IT capital. "I moved to Bangalore for its brilliant ecosystem to grow as a tech entrepreneur. But, I was surprised that renting an apartment as a startup founder is challenging," he added.
He said landlords in Bengaluru reviewed his LinkedIn account and company revenue numbers before rejecting him—despite having built a startup with a decent turnover. Today, "I have found a decent landlord who will let me stay for two years," he said. Like Patra, several bootstrapped startup founders who moved to Bengaluru said buying or renting a home in prime areas like Koramangala, Indiranagar, and HSR Layout is more challenging than building a startup in the IT capital.
Also Read: Bengaluru rentals: Are highly paid techies pushing up rents in the IT capital? Startup founders prefer prime areas such as Koramangala, Indiranagar and HSR Layout Most founders who moved to Bengaluru with aspirations of venturing into their entrepreneurial journey choose to stay in prime areas like Koramangala, Indiranagar, and HSR Layout in the city centre and Whitefield in the east. Real estate brokers say most startup owners look to stay in these prime areas where rentals are no less than ₹ 1.5 lakh per month for a 3BHK, and the cost of buying an apartment is around ₹ 3-4 crore.
"We recently closed two such deals for startup founders, where one of them bought a 3BHK apartment in prime Koram.
