Canadian man stunned by Rs 19 lakh rent deposit for flat in Bengaluru
A Canadian man, currently living in Aizwal, seemingly planning to shift to Bengaluru, triggered discussion on social media after he called out the steep rental deposit system in the city's housing market.In a now-viral post on X, Caleb Friesen shared a listing of a 3BHK flat in Bengaluru's upscale Diamond District, Domlur. While the monthly rent was listed at Rs 1.75 lakh, it was the security deposit - Rs 19.25 lakh - that shocked him the most.advertisement'Rs 19 lakh for security deposit! Absolutely bonkers what landlords are expecting these days. I could literally buy a new Mahindra Thar for less than this deposit,' he wrote in his post. Caleb also asked if anyone could help him find a place in or around Indiranagar with a 2-3 month deposit, keeping his rent budget between Rs 80,000 and Rs 1 lakh.
See the post here:His reaction struck a chord as several Bengaluru residents flooded the comments section with their personal experiences and humour-laced takes on the rental market.'LOL. Unless they offer a butler, chef, and driver, this isn't good enough. If I pay, I want three daily massages, a hot shower, and AI playing music throughout the home. My entire home should be like Alexa. My bed should have AI providing minerals to my brain for sleep,' a user said.advertisementAnother user compared the situation with Mumbai, saying, 'Glad this culture in Bengaluru real estate hasn't reached Mumbai. A landlord here asked Rs 5 lakh/month for a 4BHK with the standard 3-month deposit. The tenant offered 5 months' deposit to reduce rent to Rs 4 lakh/month. The landlord said no.'Others questioned whether renting even made financial sense anymore. 'This is why some finfluencers say buying houses is a waste of money. According to them, paying high amounts as interest-free security deposits is better than paying EMIs,' someone pointed out.One of the users said: 'Totally insane, landlords acting like they're leasing out Mars, not a 2BHK in Indiranagar. 19L is a down payment, not a deposit.'See the comments here: Notably, this isn't the first time Caleb has made headlines for his social media posts. Earlier, he had shared a video comparing Bengaluru's chaotic traffic to the quiet streets of Aizawl, which also went viral.Caleb's post sparked more than just a chuckle. It reignited a longstanding debate on the affordability and fairness of urban housing norms, especially for tenants navigating major cities like Bengaluru.IndiaToday.in has previously addressed the issue of India running out of affordable homes in a detailed article. Click here to read it. - EndsTrending Reel
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