Apartments in Bengaluru now come with deposits up to ₹25 lakh, loan options available

Bengaluru house rent rises, tenants may now need bank loan for security deposits.

Anwesha Mitra
Updated29 Jul 2023
Several recent listings from the city indicate the need for a multi-lakh deposit - going up to  <span class='webrupee'>₹</span>25,00,000.
Several recent listings from the city indicate the need for a multi-lakh deposit - going up to ₹25,00,000.

As Bengaluru house rent continues to rise, tenants may now require a bank loan to cover their security deposit. Several recent listings from the city indicate the need for a multi-lakh deposit - going up to 25,00,000. But as listing websites assured, loans were available at the ‘lowest interest rates’.

An apartment currently listed on Nobroker.in has the owner seeking a 25 lakh security deposit from the prospective tenant, while another wanted 20 lakh. Both apartments are situated in Bengaluru's HSR Layout area and feature four or more bedrooms each.

A photo of the flat listing has now gone viral on social media with many wondering if there had been a typing error. Others sought to know why there was no option for 'kidney donation'.

 

The flat also comes with a non-negotiable 2,50,000 monthly rent.

“Centrally Air- conditioned apartment with 4 BHK and servant room. Dry and Modular Wet kitchen with OTG. Terrace garden with 5 Acre BBMP garden view. Optional full furnished option also available on request . Private elevator entrance . Roof top Swimming pool , steam , Sauna , kSquash Court , Club house and GYM. Terrace party hall with barbecue,” the listing explained. 

ALSO READ: Bengaluru brokers offer 10,000 'house hunt packages' for prospective tenants

Earlier in April this year, a report released by Anarock said that Thanisandra Main Road and Marathahalli-ORR in Bengaluru had recorded the highest residential rental growth. These areas saw a rise of 24% year-on-year in the January-March period for a standard 2 BHK home of 1,000 square feet area.

Whitefield and Sarajpur were at second and third positions with 21% and 20% growth, respectively, in rental between January-March 2022 and January-March 2023.

Meanwhile, brokers in the city have begun offering 'house-hunting packages' that come with pick up and drop facilities. Brokers have reportedly begun hiring field agents to look for available properties. These agents look for inventory in a few designated areas and compile a list.

(With inputs from agencies)

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