Samsung techie shares how his rent in Bengaluru was hiked by Rs 15,000 in 6 months and why agreed to pay it

By Ankita ChakravartiA software developer in Bengaluru has recently shared his decision to accept a sudden rent increase of Rs 15,000 imposed by his landlord, despite the prevailing trend of individuals seeking more affordable housing alternatives. Arsh Goyal, a 23-year-old employee at Samsung, resides in a 3-BHK apartment in a gated community in Doddanekundi, near Marathahalli, along with two colleagues. The current rent for their flat is Rs 57,000.

Goyal explained, “Six months after we moved in, our landlord told us that he wants to increase the rent by Rs 15,000.” He further revealed that the rental agreement initially spanned 11 months, but due to the landlord’s insistence, they were faced with a choiceeither accept the new rental terms or vacate the premises, as there were other potential tenants willing to pay the higher amount. However, Goyal and his roommates opted to remain in the apartment to avoid the arduous task of searching for another dwelling in close proximity to their workplace.
“We had no other option but to agree to the landlord as finding a new place again is a big big problem,” Goyal expressed on Twitter.

In an interview with Moneycontrol, Goyal disclosed that it took them a month to secure this flat through a broker. He emphasized the difficulties they encountered while searching for a place near their office, considering their desire to minimize the impact of traffic on their daily commute. Moreover, they had already invested a substantial amount in furnishing the unfurnished apartment, making the prospect of relocating a daunting endeavor.

Goyal’s account resonated with numerous Twitter users who shared their similar experiences in Bengaluru. One user, @_M0neyMatters, stated, “My rent increased by 16 percent instead of 5 percent. Also, the first conversation we had on a higher rent increase was on May 23, but when the agreement was sent, the owner told me the rent increase will be from April 1st – he said take it or leave it. I had to take it, of course.”

Another Twitter user, @realkhandalikar, added, “Even we had a ~17 percent increment (Rs 7,500) by the owner two months back citing the decade was stagnated and it is reflecting now. He proposed a ~23 percent increment (Rs 10,000), negotiated to 17 percent. He simply said, ‘maybe renewed.’ He was not obligated to anything.”
Recent data from market researchers reveals that rents in Bengaluru have nearly doubled since the beginning of last year, positioning it as the country’s most competitive residential market. Landlords in the city now charge a higher proportion of their property’s value as rent compared to the financial hub of Mumbai.