Bangalore, officially known as Bengaluru is the capital of Indian state of Karnataka. A highly vibrant and lively city, Bangalore is the third most populous urban city. The city's fast growing economy with developed infrastructure, ample job opportunities and a cosmopolitan culture, has made it one of the most desirable destinations for Indians and expats alike.
Due to a heavy influx of people to the city, the rental market in Bangalore has expanded considerably. So, if you are keen the move there, make sure you enquire about its rental market in order to find accommodation that meets your needs and budget.
Bangalore's neighbourhoods
Bangalore is divided into several neighbourhoods. Some are old cities, still retaining the charms of the olden days(Jayanagar, Malleshwaram, Basavanagudi etc)) while others are fast-growing and posh areas with all modern facilities and amenities.
Some areas that are very popular for residing include Cunningham Road, Richmond Town, Levelle Road and Whitefield. These areas are highly preferred due to the availability of several amenities and facilities, including schools, shopping malls, etc.
Whitefield is an upscale area. which is also an IT hub. It is very popular among professionals working in Bangalore. In recent years the area has seen the rise of several residential apartments and leisure establishments. There are several other neighbourhoods like Indira Nagar, Marathahalli, Koramangala and more, that are well-connected areas with upscale residential apartments.
There are also some residential areas in the outskirts like Hebbal. It is ideal for those who prefer to live away from the city chaos. The area has a large number of residential complexes and apartments. Although located on the outskirts, it is connected to the city through a flyover.
You can also find villas in other neighbourhoods with several restaurants, boutiques, libraries, shopping malls and gaming galleries, etc.
Rent prices in Bangalore
Bangalore has a diverse rental market, providing a wide range of accommodation, including apartments, residential complexes, individual houses and villas. The rent prices vary from one neighbourhood to another depending upon the location and type of accommodation.
You will need an average of INR 18,732 per month for a single-bedroom apartment in the city-centre compared with an average of INR 9,375 per month for the same type of housing unit in the outskirts. For a three-bedroom apartment, you will need an average of INR 35,000 per month in the city centre and around INR 22,500 per month in the outskirts. You can also go for a five-bedroom apartment which will cost no less than 50,000. The rent prices for villas are generally higher than other types of accommodation.
Searching for accommodation in Bangalore
Finding accommodation in Bangalore will not be very difficult, provided you start your search in the right place. The internet is one of the best options to begin with. There are numerous general and specialised real estate websites that may help you find something of your choice. You can also check out classified ads in local newspapers, and try contacting your friends and others whom you may know in the city. Word-of-mouth is helpful.
Finally, if you don't have much time, you can register with a real estate agency. Most likely you will find accommodation as per your criteria sooner. However, you will have to pay a commission to the agent which is generally equal to a month's rent.
You will have to pay a security deposit to the owner when signing the lease documents. This amount is generally equal to 10 months to a year's rent. The sum is refunded when you leave.
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