At 16.7%, Bengaluru records highest increase in rent

NT Correspondent

Bengaluru: A half-yearly report (January-June, 2022) by No Broker, a property rental and buying portal has revealed that on average, rents have increased by 12% in a majority of the metro cities in the nation, and have cited that this phenomenon has been fuelled by return to offices forcing relocation.

It is noted that the highest increase has taken place in Bengaluru with over 16.7% increase. The report has also said that a disruption in completion of various housing projects during the times of the pandemic has led to a problem in supply and demand.

Another report in the month of November by the same organisation claimed that rent in gated housing communities such as apartments saw a hike by a massive 40%. While increased rent is a hassle for tenants to deal with, they have also had to navigate through many creative issues such as “what university did you graduate from?” thrown upon by landlords.

Over the past few weeks, many social media users have been pointing out that landlords and brokers dig deep into their personal lives, with questions such as how much is your salary and what is your family background propping up very often. This phenomenon, while it might not be unique to Bengaluru to a certain extent, has been termed “Peak Bengaluru” by many.

In a screenshot shared by a user, it can be seen that a broker told the person that their job “does not fit the profile” despite the job being at a reputed international software company. The broker goes on to say that the landlord prefers to rent their home to those who have graduated from IIT, IIM, ISB graduates or working professionals like Chartered Accountants.

Another female user pointed out that if women tenants are provided with a house, a long list of rules are implemented such as “male friends are not allowed” and “they do not party”