In a recent viral post on social media, a woman named Harnidh Kaur shared her disbelief at being quoted a massive Rs 5 lakh security deposit for a flat with a monthly rent of Rs 40,000 in Bengaluru. This revelation shed light on the exorbitant rental prices in the city, with many users expressing shock and outrage at the steep deposit demand, which far exceeds the usual one to two months' rent seen in other metropolitan areas like Delhi.
The rental crisis in Bengaluru has been exacerbated by a combination of factors, including a severe space crunch and soaring property values, leading landlords to demand security deposits equivalent to five or even ten months' rent. Kaur's post ignited a flurry of reactions on social media, with users questioning the ethics of such high deposits and expressing concern over the financial burden placed on renters. Some users also shared their own experiences of facing steep security deposit requests and highlighted the challenges tenants face in the current real estate market.
The discussion surrounding rental prices in Bengaluru also widened to encompass broader comparisons with other cities like Delhi, with some users asserting that the capital offers better living conditions, including superior public transport and affordability. This perspective prompted debates on the overall quality of life in Indian cities and raised questions about the sustainability of renting versus buying property in the current market landscape. Additionally, the conversation delved into criticisms of landlords perceived as exploiting the demand for rental properties by setting excessively high deposit requirements, leading to concerns about affordability and access to housing for residents.