Harnidh Kaur took to social media to share her renting woes
Tales about actual property and hire costs in Indian cities usually go viral on social media, sparking widespread debate. These posts usually spotlight the skyrocketing rents of residences, particularly in metropolitan cities like Mumbai, Delhi, and Bengaluru, making it difficult for the center class to seek out first rate and reasonably priced housing choices. Not too long ago, a home hunter in Bengaluru took to social media to precise her frustration over an exorbitant deposit demand from a landlord. Shockingly, the owner requested for a staggering Rs 5 lakh deposit for a flat with a month-to-month hire of Rs 40,000, Harnidh Kaur claimed.
”5 lakh deposit for a flat with 40k hire. I am so drained,” Ms Kaur posted on X.
See the submit right here:
5 lakh deposit for a flat with 40k hire :)))))
I am so drained :))))
— Harnidh Kaur (@harnidhish) November 11, 2024
Whereas cities like Delhi often require safety deposits equal to 1 or two months’ hire, Bengaluru’s dear and space-scarce market continuously calls for deposits equal to 5 to 10 months’ hire. The submit has sparked a heated debate about Bengaluru’s rising rental costs and the necessity for a cap on deposits. Social media customers unanimously agreed {that a} ₹5 lakh safety deposit for a rental property in Bengaluru is outrageous and insane. Some additionally shared related struggles.
One person wrote, ”That is insane and would not even make sense. That is like a complete 12 months’s hire.”
One other commented, ”That is lots.. is he planning to make use of it as a down cost for his subsequent property.” A 3rd stated, ”Worst half they by no means return the deposit and provides an absurd invoice of renovation within the identify of a repair.”
A fourth added, ”Unafir commerce observe below revised client safety act, 2019. write to CCPA.”
”I bear in mind paying a 2 lakh deposit again in 2019! Only a traditional case of demand & provide in some areas of BLR. Loopy how issues have escalated,” a fifth person said.
”That is the down cost for one more flat and month-to-month hire will deal with EMI,” wrote a sixth.
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