Introduction
As Bengaluru consolidates its position as the IT capital of India, rising apartment rental prices are a concern for many residents of the city. Popular for IT parks and job opportunities, Whitefield is a popular choice for tenants. It offers a mix of residential complexes and independent apartments.
Table of Contents
Bangalore Affordable Rental Apartments: Along with high rent, there is a significant imbalance between the demand and supply of available rental properties. It prompted landlords to hike rents by 30–40 percent. And in some areas, it has even increased by 50 percent compared to the previous year. Rent refers to the income generated by a rented property relative to its purchase value.
However, local real estate brokers have highlighted several pockets of Bangaluru that offer affordable rental accommodation. Now let’s take a look at some of the areas in the city that offer budget-friendly apartment rentals:
East Bengaluru
Emerging suburbs near the East, IT corridor, including KR Puram, Budigere Cross, and Varthur offer competitive rental rates. With good connectivity to major IT hubs and a peaceful environment. 2 BHK apartments on rent in gated societies in areas like Varthur adjacent to Whitefield are affordable.
| Apartments | Monthly Rent |
| 2 BHK | Rs. 20,000 to 25,000 |
| 3 BHK | Rs. 30,000 to 40,000 |
North Bengaluru
Among various suburbs, North Bengaluru stands out for its affordability and high rental yield. 2 BHK apartments are available in areas like Kammanahalli, Hennur, Kothanur, and the Manyata Tech Park area up to Jakkur at monthly rates of Rs. 25,000 to Rs. 30,000. But the price of 3 BHK units is Rs. 35,000 onwards.
Day by day, places near the international airport in Devanahalli are also priced at Rs. 25,000, and gated communities have a higher rent. However, limited last-mile connectivity remains a challenge in these areas.
Central Bengaluru
While the central business district and prime areas have higher rents, neighborhoods such as Fraser Town, Cook Town, Banaswadi, Lingarajapuram, and Cox Town offer affordable rental options.
| Apartments | Monthly Rent |
| 2 BHK | Rs. 20,000 to 35,000 |
| 3 BHK | Rs. 40,000 to 50,000 |
South Bengaluru
South Bangaluru, especially near JP Nagar and Kanakapura Road, offers reasonably priced rentals. There are many facilities. The outskirts of JP Nagar have specialties. And more facilities, and global schools, colleges, and medical facilities are available.
| Apartments | Monthly Rent |
| 2 BHK | Rs. 25,000 starting rents |
| 3 BHK | Rs. 30,000–35,000 |
Other Areas in Bengaluru
Yeshwantpur in the northwest, Rajarajeshwari Nagar in the southwest, and Mysore Road in the south are other areas worth considering for affordable rentals. These locations provide easy access to the metro. Facilitate connectivity to the Central Business District and Eastern IT Corridor.
Job opportunities are more due to IT hubs around these areas. Therefore, many people come for employment and live in rented houses. Due to these reasons, the demand for rentals is high here.
| Apartments | Monthly Rent |
| 2 BHK | Rs. 25,000 to 30,000 |
| 3 BHK | Rs. 40,000 Under |
Conclusion
Although rental rates in Bengaluru are on the rise, there are still some areas that offer affordable housing. You are apt to find budget-friendly rental apartments. Rates may increase or decrease in some other areas. For more information, visit Openplot.
Also Read: Property Tax in Bengaluru Is Going to Go Up Hugely