Affordable Rental Apartments: Top 5 Areas in Bengaluru

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With Bengaluru cementing its status as the tech hub of India, the increasing costs of renting apartments are worrying numerous city dwellers.

A large imbalance between the number of rental properties wanted and those available, along with high rental profits, has led landlords to increase rents by 30-40 percent, and in some locations, even by 50 percent compared to last year. Rental yield is the amount of income produced by a rental property compared to its buying price.

Nonetheless, real estate agents in the area emphasize various neighborhoods in Bengaluru that still offer reasonably priced rental housing options. Below are the prime five locations in the city that provide affordable apartment rentals.

North Bengaluru:

In the assortment of suburbs, North Bengaluru is distinguished by its cost-effectiveness and lucrative rental returns. 2 BHK apartments in Kammanahalli, Hennur, Kothanur, and near Manyata Tech Park up to Jakkur are available for monthly rates between Rs 25,000 and Rs 30,000. 3 BHK units in the same areas start at Rs 35,000. Gated communities near the international airport in Devanahalli provide rental options starting from just Rs 25,000 per month. Nevertheless, there is still a challenge with limited last-mile connectivity in these regions.

Suburbs in Eastern Bengaluru:

Up-and-coming neighborhoods surrounding the eastern IT hub, such as KR Puram, Budigere Cross, and Varthur, provide affordable rental prices. In areas like Varthur, close to Whitefield, a 2 BHK flat in a gated community can be leased for a monthly rent of Rs 20,000-25,000.

Also Read: Home Loan Benefits for Women in India

Central Bengaluru:

Even though the central business district and prime locations have expensive rents, more affordable rental options can be found in neighborhoods such as Frazer Town, Cooke Town, Banaswadi, Lingarajapuram, and Cox Town. A 2 BHK apartment in this area usually costs between Rs 20,000 and Rs 35,000 per month, whereas a 3 BHK unit can be rented for Rs 40,000 to Rs 50,000 monthly.

South Bengaluru:

Reasonably priced rentals are available in the southern part of Bengaluru, especially in the vicinity of JP Nagar and Kanakapura Road. In the outskirts of JP Nagar, you can find 2 BHK apartments for less than Rs 25,000 per month, and standalone buildings offer even cheaper rates. At the same time, monthly rent for 3 BHK units in these areas ranges from Rs 30,000 to Rs 35,000.

Other Areas:

Other viable options for affordable rentals include Yeshwanthpur in the northwest, Rajarajeshwari Nagar in the southwest, and Mysore Road in the south. These spots provide convenient access to the subway, making it easier to reach the central business district and the eastern IT corridor. A 2 BHK apartment in these locations usually costs between Rs 25,000 and Rs 30,000, while a 3 BHK unit can be rented for less than Rs 40,000.

Also Read: How To Reduce Home Loan Interest Rate In 2024?

Frequently Asked Questions

Ans 1. Hebbal - Among Cheapest Areas In Bangalore For RentHebbal is a popular neighborhood located in the northern part of Bangalore. The area is well-connected to the city via Bellary Road, ORR, and Hebbal Flyover. The area has public transport connectivity and well-developed social infrastructure.

Ans 2. Whitefield, Electronic City, Central Bangalore (Indiranagar, Brigade Road, MG Road), North Bangalore (Hebbal, Hennur Road, Thanisandra), East Bangalore (Koramangala, Sarjapur Road, Marathahalli), North Bangalore outskirts (Budigere Cross, Yelahanka) are the places to buy a flat.

Ans 3. Koramangala: Considered to be the best area in Bangalore for families, Koramangala is well known for its lively atmosphere and excellent amenities. It offers residential as well as commercial spaces. 2. Indiranagar: Indiranagar is a well-established neighbourhood with excellent connectivity and many amenities.

Ans 4. Without any doubt, the top floors of a high-rise apartment are the most peaceful. The residents can enjoy great privacy without any disturbances from hawkers or street noise. Another benefit of buying a flat on the top floor of a building is one can easily access the terrace from there.

Ans 5. Rent can range from Rs 25,000 to Rs 30,000, while affordable residential sectors fall between Rs 15,000 and Rs 20,000 monthly. Additionally, household monthly expenses in Bangalore can reach Rs 35,000. While living costs in Bangalore may be higher than in other cities, the city offers ample opportunities.