Rents in Bangalore hit the roof with landlords trying to recover the rental amount lost during pandemic

Companies calling employees back to offices has led to an influx of people in Bengaluru.?

Experts say Bengaluru's post-pandemic housing inventory has been absorbed, causing a supply shortage. Rental demand has risen in the past few months due to employees returning to office, including in hybrid mode.

Here’s how the story of a Bangalore based employee, Anglushulekha Bora, unfolds in this regard:

A few months ago, Bora’s landlord suddenly spiked the rent of her one bedroom house from INR 12,000 to INR 18,000. With no choice left, she decided to look for a new place. During her house hunt, Bora discovered that rents in Bangalore have become unaffordable and that she’ll have to share the costs of a 2 bedroom house with another tenant?

Another tenant in HSR layout rented an apartment for INR 60,000, with a 40% rental hike from last year.?

As per a source, here’s how rent in some of the prominent areas have increased from April '22- March '23.

Varthur: 57.40%

Hebbal: 47.17%

JP Nagar: 46.67%

Indiranagar: 45.83%

Whitefield: 43.12%

?? Our take:

• The rental spike in Bangalore is here to stay unless we are hit by another pandemic situation
• The best way to survive the rental hike is to spilt costs with other tenants
• An alternative way could be to shift to areas with low rental amount. But, these may result in an increased travel time if one’s office is situated in the high-demand areas
• Many are also considering relocation / job switch to other cities

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