Bengaluru, the IT capital, doesn’t need an introduction when it comes to rental prices. The rent is sky-high, and the advance amounts are often unaffordable. The rental market in Bengaluru has been on the rise, and though rental prices slightly dropped in some areas last summer due to water shortages, the demand quickly resumed, pushing rents even higher. However, there are still a few areas in Bengaluru where you can find apartments for rent under Rs 30,000 per month. These areas include BTM Layout, JP Nagar, and the outskirts of North Bengaluru.
In Bengaluru, the real challenge is not the rent, but rather the deposit, which often needs to be paid upfront. Typically, tenants are required to pay a deposit equivalent to at least 10 months’ rent. In some places, the advance deposit ranges from 6 to 9 months’ rent. For example, for an apartment renting for Rs 30,000 per month, the deposit would range from Rs 1.8 lakh to Rs 3 lakh. The higher the monthly rent, the larger the deposit.
So, if you’re looking for apartments under Rs 30,000 a month, these areas could be ideal to start your search.
One of the prominent eastern suburbs of Bengaluru, KR Puram, offers 2BHK apartments for rent under Rs 30,000. The recent launch of the KR Puram-Whitefield metro line has alleviated traffic issues in the eastern IT corridor of the city. KR Puram has become a highly sought-after area for techies working in the eastern IT corridor, especially those employed in Whitefield. Several independent apartments in this area are available for affordable rents.
In the outskirts of JP Nagar, such as Phase-6 or Puttenahalli, many apartments are available for rent under Rs 30,000 per month. The upcoming metro corridor, which will connect JP Nagar Phase-4 to Kempegowda, is attracting more attention to this area. Local brokers predict that real estate prices in JP Nagar could rise by 10-20% due to the metro development. Despite this, apartment rents remain affordable and accessible.
In North Bengaluru, areas like Yeshwanthpur and Hennur offer 2BHK apartments for rent ranging from Rs 25,000 to Rs 30,000 per month. North Bengaluru is well-connected, with proximity to the Kempegowda International Airport and just a 34-minute commute to Hebbal. Key micro-markets such as Hennur Road, Jakkur, Yelahanka, and Hebbal are considered highly promising for real estate investments, according to local brokers.
While North Bengaluru is rapidly developing as a real estate micro-market, many developers are turning their focus southward towards Kanakapura Road. Kanakapura Road is relatively more affordable compared to some other areas, making it attractive for investments. However, one of its challenges is its distance from the city, which can make daily commuting inconvenient. On the other hand, in the Whitefield eastern IT corridor outskirts, 2BHK apartments are available for rent under Rs 27,000 per month. Many single-bedroom apartments in various areas are available for rent between Rs 15,000 and Rs 20,000 per month, and in some cases, even as low as Rs 12,000.
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