Bengaluru real estate: Luxury villa rentals up on the back of rising demand from expats, HNIs and NRIs

Hindustan Times

4 hours ago

Bengaluru's luxury villa market is seeing a surge in demand, with monthly rents now reaching as high as ₹4 lakh. In one case, a 10,000 sq ft villa in Prestige Golfshire near Nandi Hills was leased to a senior executive of a multinational company for ₹4 lakh per month, twice the rent fetched by a similar property in the area just two years ago. Brokers told HT.com that the security deposit for the deal exceeded ₹20 lakh.
Once considered an exclusive luxury, villas in Bengaluru are now drawing strong interest from high-end tenants, with demand driven by HNIs and NRIs. Brokers point out a strong interest in the segment, prompting developers to roll out new villa projects priced between ₹2 crore and ₹5 crore.
According to Sunil Singh, director at Realty Corp, demand from expatriates, NRIs, and senior executives has pushed rents for villas to nearly double compared to just two years ago.
Villa rentals across the city are showing similar trends. A 3BHK villa in Adarsh Farm Meadows in Whitefield is currently quoted at ₹2.85 lakh for 4,000 sq ft. Despite an abundance of villa developments in areas like Whitefield, Sarjapur Road, and Varthur, demand remains high.
According to Singh, tenants looking for high-end villas frequently request additional amenities. 'If a villa is semi-furnished, tenants often demand full furnishing. Some even ask for private pools. If a landlord spends ₹5–10 lakh on furnishing, they can increase the rent by ₹50,000– ₹70,000 per month,' he said.
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In East Bengaluru, particularly the eastern IT corridor of Whitefield, Varthur Road, and Sarjapur, 4,000 to 5,000 sq ft villas typically rent for ₹2.5 lakh per month. Further out, in areas like Budigere Cross and Soukya Road, similar properties fetch around ₹1.25 lakh per month. Brokers said most villas include 300 to 400 sq ft garden spaces, and a few come with private pools.
In North Bengaluru, areas like IVC Road offer fully furnished villas starting at ₹2 lakh per month for 4,000–5,000 sq ft configurations. Local brokers estimate that nearly 95% of East Bengaluru's luxury villa inventory is concentrated in Whitefield, which continues to attract tech professionals working in nearby parks like ITPL.
South Bengaluru has fewer high-end villa projects. Towards Hosa Road, 10,000 sq ft villas are available at ₹2.5 lakh per month, while properties like LGCL Ashlar command rents of up to ₹3 lakh per month with features like private pools and luxury amenities. Kanakapura Road also offers luxury villas in the ₹1.5–2 lakh range, though pools are rare unless negotiated by the tenant as part of a longer-term lease.
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Most villa rentals in Bengaluru have an 11-month lock-in period, and landlords prefer tenants with stable professional backgrounds. Security deposits typically amount to six months' rent, meaning ₹24 lakh upfront for a ₹4 lakh monthly rental.
The rise in villa rentals is largely driven by expatriates, high-net-worth individuals (HNIs), and NRIs. 'Many are upgrading from premium apartments. One startup founder living in Banashankari is now seeking a villa in North Bengaluru with a ₹2.5 lakh budget,' Singh said.
For investors, North Bengaluru areas like IVC Road, Hennur, and Bagalur offer good rental returns, with Bagalur increasingly becoming a hub for NRI and expat tenants. Singh estimates that 25–30% of luxury villa renters in Bengaluru are now NRIs.