Rs 5 Lakh Deposit, Rs 40,000 Rent: Woman`s Tweet On Bengaluru Landlord Asking For Accommodation Rental Goes Viral

A woman has shared a post on X that her prospective landlord was seeking Rs 5 lakh as deposit and Rs 40,000 as rent for an apartment in Bengaluru.

New Delhi: Amidst rental vs owning property debate, a tweet by woman in Bengaluru has left the internet divided. The woman, that goes by the name Harnidh Kaur posted on X (formerly twitter), regarding the high deposit charges and rentals for apartments in Bengaluru.

Kaur wrote, "5 lakh deposit for a flat with 40k rent. I’m so tired", sharing that the high advance payments sought by landlords in the silicon valley of India does not leave much scope for those who seek houses on rental basis.

Internet was quick to respond to her post, though some supported her on her plight, others said that it could have been negotiated. Some even ended up defending the landlord, stating that those high prices were nothing as compared to the amenities that are being offered along with the house.

Meanwhile, according to a Knight Frank report last week, Gen Z lean towards renting a place, contrary to Baby Boomers, Gen X and millennials who prefer to buy homes in India.

Baby boomers favour investments but millennials prefer to upgrade their property and the reasons for purchasing a home show distinct generational difference, the report said.

About 79 per cent of Baby Boomers, 80 per cent of Gen X and 82 per cent of Millennials favour homeownership, while among Gen Z, only 71 per cent prefer to own a home and a high 27 per cent leaning towards renting.

Millennials (39 per cent) and Gen Z (36 per cent) are leading the trend of upgrading and purchasing for end-use, while Baby Boomers display a stronger interest in investments (29 per cent) and retirement plans (15 per cent).

Overall, 37 per cent of respondents are upgrading to a better home, reflecting a growing shift towards mid-range and luxury housing which was traditionally concentrated in select cities but is now expanding to Tier 1 cities in India.

The remaining 32 per cent are first-time homebuyers for end-use, 25 per cent are investing and 7 per cent cite other reasons, such as retirement or acquiring a second home or vacation home, the report mentioned.

Location stands out as a priority and is the determining factor for 50 per cent of respondents, affirming its timeless importance in real estate.

With IANS Inputs