Bengaluru landlord faces Rs 5 lakh loss after Rs 75,000 3BHK rent ask backfires: ‘Losing out to greed’

Bengaluru 3BHK pricing gamble ends in costly setback. (AI-generated image)

Bengaluru’s rental market has been through sharp highs and steady shifts in the past few years. After witnessing steep increases during the post-pandemic surge, parts of the city are now showing signs of shift. In some neighbourhoods, landlords who once held firm on peak prices are facing a different reality.

Now, a recent account shared online suggests that the balance between demand and pricing may be shifting in some pockets.

A post on Reddit has drawn attention after a tenant claimed that a landlord in Whitefield lost more than Rs 5 lakh in potential rental income by quoting Rs 25,000 per room for a 3BHK flat, amounting to Rs 75,000 per month.

The post was shared with the caption, “Bangalore owner took a loss of 5 lakh+ on rental,” and described how the tenant has been living alone in the three-bedroom flat. “So I’ve been staying in a spacious 3BHK in a very good society for just Rs 25k total,” the tenant added.

According to the post, the landlord had fixed the rent at Rs 25,000 per room, which was said to be above the local average of around Rs 20,000 per room. As a result, two bedrooms reportedly remained vacant for nearly a year.

The tenant pointed out that the empty rooms could have generated an additional Rs 20,000 per month each. Over 12 months, that would amount to nearly Rs 4.8 lakh in missed income. They further revealed, “If even one month goes empty, that’s almost a 10% loss for the year.”

The landlord has since reduced the asking rent to Rs 18,000 per room. While prospective tenants have visited the flat, no agreement has been finalised so far. “Feels like landlords are still living in 2022 peak mindset, while the market has already changed,” the tenant explained.

The post received mixed responses. Several users said that tenants now have greater bargaining power in areas where supply has increased. Pointing to alternatives available in the same locality, one user questioned the pricing logic. The user wrote, “A 2BHK in a standalone building is available at 20k. Why would anyone pay 18k for a shared room? Rental yield in the Whitefield area is a big joke.”

Another user argued that some owners hurt their own returns by refusing small reductions, “I have seen owners keep flat vacant for 500-1000 Rs discount.. they lose 50k, 60k long term.”

Bangalore owner took a loss of 5 lakh+ on rental by u/HustlerAlways in indianrealestate

A third response was more direct, accusing the landlord of overpricing the property, “75k for a 3bhk is peak level greedy..good he is losing out to his greed.”

Some users also turned their attention to the tenant, asking whether they planned to renegotiate their own rent. Raising this point, a user asked, “My only question is, did you decrease your rent? Maybe 2.5-3K less? Or still paying the same?” Another added, “When he has reduced it to 18k, why are you continuing at 25k??”

Responding to these queries, the tenant said they were unaware of the revised quote until informed by others and are considering discussing it with the landlord. They said, “That’s actually what I’m thinking. He didn’t tell me about the new price. The new tenants told me that’s what he was quoting them. I will ask him to adjust mine once new guys are onboarded.”