Several real estate pockets close to the city centre and IT corridors in Bengaluru have seen a significant increase in rental prices, making them unaffordable for many tenants. However, there are still some areas in the north, south, and city centre that remain relatively affordable, although this may change in the future.
In areas like Hebbal, Jakkur, Hennur, and Yelahanka, a 2BHK apartment can be rented for around Rs 25,000-30,000 per month, while a 3BHK apartment goes for around Rs 35,000. The rent for 1BHK flats has increased from Rs 10,000 to Rs 15,000 per month in the past year.
In southern Bengaluru’s JP Nagar, larger individual houses have been converted into multiple dwelling units, and 2BHK apartments are available for around Rs 25,000 per month. There are also some affordable options in areas like Kanakapura Road and Brigade Meadows, where a 2BHK apartment can be rented for under Rs 30,000 per month.
However, in areas near Manyata Tech Park and the IT corridors in the north, rental prices have soared, with a 2BHK apartment typically costing around Rs 50,000 per month.
The areas that remain affordable generally do not have direct links to the IT hubs or commercial sectors of the city and lack social infrastructure like malls and healthcare facilities. However, these areas are suitable for millennials who have their own vehicles.
In the city centre, there are still some affordable options, but luck plays a significant role in finding them. Areas like Frazer Town, Cooke Town, Shanthinagar, and Cox Town occasionally have 2BHKs available for monthly rents of Rs 25,000-35,000. However, demand for these apartments is high due to their proximity to prime areas with proper infrastructure.
Other areas to consider for affordable rentals include Rajajinagar, Majestic, and Ejipura, where 2BHK apartments can be found for under Rs 30,000 per month. However, congestion is a major issue in these areas, especially around Majestic, the main bus station in Bengaluru. Ejipura is also prone to flooding during heavy rain, causing disruptions to daily life.