Car garages, storage rooms for rent in Bengaluru

Bengaluru, the IT capital, doesn’t need special mention when it comes to rentals. The rents are high, and security deposits are also hefty. As a result, every inch of space is crucial. Even the smallest flats are renting for over Rs 20,000. To make the most of the available space, single-bedroom flats are being divided into two units. There are even single-bedroom flats in areas less than 350 square feet. In the end, garages and store rooms are being modified and rented out as well.

Single-bedroom flats in Bengaluru that are less than 350 square feet face a significant lack of space. In such flats, even a sofa can’t fit comfortably in the living room, and there’s hardly any room to move around freely. Since 2023, high-demand areas like Koramangala, Sarjapur Road, Whitefield, and Bellandur have seen an annual rent increase of up to 35%. This rise in rent is due to homeowners attempting to recover the losses incurred during the pandemic, while the return of employees to offices has led to higher demand for rental properties. Currently, Bengaluru is facing a housing crisis. The excessive rise in apartment rents is putting pressure on renters, as property owners are exploiting the supply-demand imbalance to increase rent prices. The shortage of housing inventory has also contributed significantly to the steep rise in rental costs.

Due to the rising demand for rental apartments near the city center of Bengaluru, property owners are making unconventional decisions. Some landlords are converting car garages into compact single-bedroom units and renting them out for over Rs 20,000 per month. Recently, in prime Koramangala, one landlord converted his garage into a one-bedroom unit and rented it out for Rs 25,000 per month. In Indiranagar, a landlord transformed a utility room under the stairs into a single room with a kitchen and decided to rent it out for Rs 15,000 per month. Due to the shortage of available inventory near the city center, rental prices in prime areas increased by 10 to 15 percent last year.

In areas like Koramangala, Indiranagar, HSR Layout, and Hebbal, 2 BHK apartments in gated communities are now renting for between Rs 40,000 and Rs 50,000 per month, depending on the amenities. However, while rental prices are increasing in prime areas of Bengaluru, affordable rental homes can still be found on the outskirts of the city. In areas like Bagalur near Whitefield, 2 BHK homes are available for around Rs 27,000 per month. In areas on the outskirts like Koramangala and Whitefield, as well as locations like BTM Layout, numerous 1 BHK homes are available for Rs 15,000 to Rs 20,000 per month, with some even priced below Rs 12,000 in certain locations.