Bengaluru landlord asks for ₹5 lakh security deposit for flat with ₹40k rent

In the newest chapter of 'Bengaluru Rent Woes,' a woman alleges she was requested to pay ₹5 lakh as a security deposit for a ₹40,000 per month apartment. Harnidh Kaur took to social media to convey her rental troubles, and her post drew attention on X (previously Twitter), with many commenting that rent costs in Bengaluru are "out of control".

Bengaluru landlord asks for Rs 5 lakh security 

5 lakh deposit for a flat with 40k rent :)))))

I’m so tired :))))

— Harnidh Kaur (@harnidhish) November 11, 2024

“5 lakh deposit for a flat with 40k rent. I’m so tired,” Kaur posted on X.

In many locations, including Delhi, the security deposit is usually one or two months' rent. In Bengaluru, which is known for its increasing real estate prices and space shortage, the amount can reach five or even ten months' rent. 

However, social media users agreed that a security deposit of ₹5 lakh is quite excessive for Bengaluru. Social media users pointed out that it exceeds a year's rent (₹4.8 lakh). 

How did people on the internet react? 

As Kaur's post began to go viral online, she received a flood of unexpected inquiries. The founder of The Hiring Update, situated in Bengaluru, declined to rent the property since the asking price of ₹5 lakh was too high. 

Some questioned whether it would be more financially prudent to buy a home rather than rent at such exorbitant rates, while others chastised 'greedy' landlords for pricing tenants out of the market. Here's what people wrote in the comments. 

~$10B is stuck in rent deposits across India.

Wait for a year, some’s going to start a fintech around lending / securitising this 😂

— Raj Kunkolienkar (@kunksed) November 11, 2024

Learn Kannada brigade will now tell you that had you known Kannada, you would have got it reduced to 4.85L 😆

— Alan (@cbe_sam) November 11, 2024

I hope you will get back half of the deposit, landlord a NRI?

— Veloster (@prawnstaff) November 11, 2024

Deposits are largely inflated so you can negotiate easily than rent.

— TD (@v_forvindicator) November 11, 2024

Down Payment for new house 🤝 Security Deposit

— Prathamesh Shanbhag (@Prathamesh_117) November 12, 2024

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