Are Bengaluru rents cooling off? Netizens report a dip in top housing complexes

Hindustan Times

4 hours ago

After two years of sharp rental hikes in Bengaluru's prime residential complexes, tenants are finally seeing a shift, and this time, it's in their favour. After two years of sharp rental hikes in Bengaluru's prime residential complexes, tenants are finally seeing a shift, and this time, it's in their favour. (Representational Image)(Pexels)
Users on platforms like Reddit and Facebook housing groups report a visible dip in rents across Tier-I societies, with some managing to negotiate rates 10–15% lower than those originally listed.
While many landlords still prefer renting to families, the steep rents are increasingly out of reach for them. On the other hand, bachelors, who are typically more open to sharing rental costs, often face barriers due to housing society rules or owner preferences. This mismatch is now prompting some landlords to revise their expectations.
The sudden influx of newly available rental stock, driven by the post-COVID construction backlog reaching completion, has contributed to the rent correction. At the same time, sluggish annual salary hikes, job market uncertainty, and a slowdown in fresh hiring are pushing tenants to seek more affordable options, including low-rise builder-floor homes in less expensive localities.
According to one Reddit user actively tracking prices for the past six months, several premium gated communities have seen rent corrections, particularly in 2BHK and 3BHK units. 'Online rents are aspirational numbers,' the user wrote. 'Actual deals are closing much lower. Owners are struggling to find tenants willing to pay steep prices.'
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Several tenants point out that many landlords continue to prefer renting to families, but the high rents are increasingly unaffordable for them. Meanwhile, bachelors, who are more willing to share costs, often face resistance due to housing society restrictions or owner preferences.
'With fewer family tenants willing to pay sky-high rents, landlords are being forced to revise expectations,' said another user, citing personal experience negotiating a rent renewal. 'My landlord had increased rent by 15–20% every year, but this year, he finally agreed to a no-hike renewal.' What's driving rents to cool down?
Netizens attribute this trend to a sudden influx of completed housing inventory. The COVID-19 pandemic caused a construction slowdown, with many projects delayed between 2020 and 2023. But in 2024 and 2025, thousands of long-pending apartments began hitting the market, creating a supply surge in key micro-markets.
'The post-COVID backlog started completing all at once, adding a lot of new homes for rent,' a Redditor explained. 'The market just couldn't sustain premium pricing in every society.'
Coupled with low annual salary hikes, job market uncertainty, and a slowdown in new job offers, many tenants are opting for budget-conscious choices. 'People are holding back. They're afraid of layoffs and are saving for a dry day,' said another user.
Most of them are scouting for rental options in low-rise builder floors to save costs.
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A growing number of tech workers are also choosing to relocate to more affordable cities like Pune and Hyderabad. 'My colleagues have changed their base location,' said a Redditor. 'In Bengaluru, if you live far, you lose three hours a day in traffic. If you live close, you pay a fortune in rent. It's becoming unsustainable, especially for freshers.' Real estate brokers say rents are stabilising
In 2023, rental prices in popular Bengaluru neighbourhoods such as Koramangala, Sarjapur Road, Whitefield, and Bellandur witnessed sharp spikes, some reaching as high as 30-35% annually, as landlords aimed to make up for revenue lost during the pandemic. The demand surge that followed the return-to-office mandates only intensified the upward trend.
However, the momentum now appears to be easing. 'Rental rates in pockets like Whitefield, Koramangala, and HSR Layout have softened by around 3-5%,' said Manjesh S Rao, chief real estate officer at BrokerInBlue.
Real estate brokers say that 2 BHK apartments in areas like BTM Layout and Sarjapur, which were previously fetching ₹ 35,000-40,000 per month, are now leasing for around ₹ 30,000. In parts of the Whitefield periphery, such as Bagalur, similarly sized homes are available for under ₹ 27,000-30,000 per month, reflecting the broader stabilisation in Bengaluru's rental market.