Bengaluru brokers offer ₹10,000 ‘house hunt packages’ for prospective tenants

According to a Moneycontrol report, rental properties in Bengaluru have gone up by as much as 40 per cent due to a lack of inventory. Brokers have now come up with unique ways to deal with the demand-supply mismatch by hiring field agents to look for available properties. These agents look for inventory in a few designated areas and compile a list.

Another major innovation brought in by the brokers is the launch of ‘house hunt packages’, which start at around ₹10,000 and offer tours to around 5-6 locations. It also comes with a pick-up and drop facility with many different cars like hatchbacks and sedans.

The Moneycontrol report quotes Sunil Singh, founder of Bengaluru-based Realty Corps, as saying that the package also includes ‘recreational tours’ to malls, eateries or other places as per the customer’s preference.

Singh’s Real Corp also offers pick-up and drop facility from the airport to hotels at a higher price point, specially tailored for the expats and corporate clients. He noted that the demand for his house-hunting package has picked up and many locals have also used his service for house hunting.

Sky high rent in Bengaluru: 

Rental prices in Bengaluru have once again skyrocketed due to a demand-supply gap. The report notes that a 2BHK apartment in a stand-alone building is available for around ₹35,000 to ₹38,000, which earlier went for around ₹25,000. Meanwhile, 2BHK flats in gated societies are not available for less than ₹50,000.

Moreover, 3BHK flats in prime areas of the city like Sarjapura, Indiranagar, HSR Layout are going for over ₹80,000. Prospective tenants are left to look at places like Begur or Hosur Road, where flats are still relatively cheaper at ₹15,000- ₹20,000, but this could change soon.

Updated: 28 Jul 2023, 09:14 AM IST