BENGALURU RENTAL DEPOSIT
Entrepreneur compares Bengaluru to San Francisco, says it's mega cheap except rental deposits
Indian-origin entrepreneur Hardeep Gambhir, who moved to Bengaluru after seven years in San Francisco, praises the city for its SF-like experience, startup ecosystem, and affordability, though he criticizes its high rental deposits.
Byju’s to vacate several offices in cost-cutting drive, may give up HQ partially
Edtech firm Byju's is undergoing cost-cutting and restructuring efforts, downsizing smaller assets and consolidating its focus on the top four to five cities. The company has identified offices and tuition centers for closure across 17 cities, reducing the count to approximately 250. Byju's faces financial challenges, including disputes with landlords over rental payments and legal issues related to a $1.2 billion loan
Byju’s vacates offices to cut costs, may give up Bengaluru HQ partially
Byju's is undergoing cost-cutting and restructuring by downsizing assets like offices and tuition centers. It aims to focus on top cities, generate revenue, and has identified assets overlapping with Aakash centres. Despite challenges, it initiated a rights issue to address issues.
Byju's vacates 4 lakh sq ft Bengaluru office space to cut costs
Byju's was paying a rental of about Rs 4 crore per month for the office space and had signed the rental agreement about 3.5 years ago with the Prestige Group.
Bengaluru sees 8.98% returns from housing; how much returns can you get from your house?
At 9.94%, 10-year returns from housing is the highest at Kochi among 10 urban cities, as per the data by BankBazaar.com. Is buying a house an investment or a living expense? If it is an investment, how much return can you expect from your property? Find out here
Linkedin renews lease for office space in Mumbai’s Bandra-Kurla Complex
LinkedIn has renewed the lease for office space in Mumbai's business district for a long-term tenure of five years. The lease includes six office units on the fourth floor of a commercial project, with record rentals of Rs 565 per sq ft per month. The renewed leases will commence from August 2024, with the company paying a total of Rs 10 crore in deposits.
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Listing of 4 BHK flat in Bengaluru with Rs 2.5 lakh rent, Rs 25 lakh deposit goes viral
A Bengaluru man has shared a listing on Twitter of a 4 BHK flat with a rent of Rs 2.5 lakh and a Rs 25 lakh deposit in the HSR layout area of the city. The listing had an "Apply Loan" link besides the deposit column.
High surplus will help Sens achieve financial goals
Early start to investing and high net worth will ensure that Sens meet their goals with existing resources.
Bengaluru rent plight: Demand for enhanced policy lost in Karnataka poll battle brouhaha
Karnataka's citizens will queue up at poll booths tomorrow to elect the next government in the southern state. While the political parties have offered freebies ranging from gas cylinders to food grains, affordable housing and real estate pricing policies remain a worry, particularly for those in Bengaluru. Calls for the adoption of The Model Tenancy Act in the poll-bound Karnataka state have seen a marked increase.
Why landlords don't rent to bachelors? Bengaluru landlord shares pics
A landlord recently turned to the popular online platform Reddit, to share alarming images of a run-down apartment in Bengaluru. The post was titled as "Why Why landlords don't rent to Bachelors and take security deposit." The photographs revealed an appalling sight, with the living space in a filthy condition, littered with glass bottles. The kitchen appeared neglected, covered in layers of dust, discolored tiles, and grimy drawers.
Rents are going through the roof in Bengaluru as fight for flats intensifies
Rents in various neighbourhoods of Bengaluru have increased by double digits since 2019, in line with a broader trend across India's major cities. Prospective tenants in Bengaluru are also grappling with high deposit requirements of 10–12 months as well as sharing professional backgrounds, adding to the burden for those relocating to the city.
Should you buy or rent your furniture? Here is a cost comparison
Can’t be bothered to lug around belongings every time you move? You could rent furniture and appliances, but don’t overlook the hidden costs.
Left kidney on sale; Bengaluru tenant comes up with creative money-making solutions amid soaring rent
The post also reiterates how difficult it is to rent a house, especially in cities like Bengaluru, as people deal with soaring rent and unusually high-security deposits. In the LinkedIn post, the person mentioned the difficulties of finding a place in the Indiranagar area of Bengaluru. The post has also managed to connect with other users on the platform who felt strongly about the issue and may have also experienced the same problem at some point in time.
Co-living space vs renting a flat: Lease period, security deposit, rent comparison
Young professionals are opting for co-living as it offers more amenities at rents similar to 1-BHK flat.
When it comes to investing, financial planning, it may not always be a good idea to listen to your parents
To help create a balance, ET Wealth has spanned the gamut of financial concerns, from investment to insurance to loans, and have considered parental advise. Is it likely to fall short or prove useful? Read on to find out which suggestions to accept and where to draw the line.
Covid surge to slow rental housing market recovery
The rental housing market had declined by 5-15% across key markets in the country following the viral outbreak in early 2020. It was only in the second half of 2021 that signs of stability started appearing, as companies expected employees to return to office. But then the Omicron-led third wave came in, truncating the growth.
EMC Software renews 825,000 sq ft office space across 6 leases in Bengaluru
The company has renewed these deals for offices across three commercial buildings in the SEZ—WTC Moonstone, WTC Emerald and WTC Aquamarine—for five years at monthly lease rentals ranging from Rs 54 to Rs 81 per sq ft, taking the annual rental payout to nearly Rs 60 crore.
Eqaro Guarantees, co-living firm FF21 in pact for rental bonds in India
These bonds are issued on behalf of the tenant favouring the landlord and will cover unpaid rent, utility bills, or any other damage incurred to the property. These are also the first rental bonds introduced by any institutional guarantor in India.
Rent Courts, Fix Security Deposits: India gears up to implement rental housing policy
The implementation of these proposals may not be so simple since the Act is not binding on the states as land and urban development remain state subjects. States and UTs can choose to repeal or amend their existing Acts. Like with RERA, states may choose not to follow guidelines, diluting the essence of the Model Act.
Covid-19: Ola waives car lease rentals
For drivers, the move is likely to reduce the burden of managing a vehicle, which includes leasing cost and parking, besides offering them flexibility to find other jobs in the meantime. It also helps Ola to protect its assets.
Tax optimiser: NPS, perks can help Yadalam reduce tax outgo by Rs 87,000
Yadalam should opt for the NPS benefit offered by his company. Under Sec 80CCD(2), up to 10% of the basic salary put in the scheme is tax free.
Oyo Life starts co-living operations in Kolkata
The company hopes to revolutionise the housing and long term rental offerings with its hassle-free, and technology-driven rental housing product in Kolkata.
Cashe has partnered with Magicbricks to facilitate loans for security deposits
Cashe disburses short-term loans ranging from Rs 5,000 to Rs 2lakh with a repayment tenure ranging from 15 to 180 days.
Rental startups will soon rate customers to predict their behaviour
The move could resolve many trust-based issues for these startups, but will be challenging to implement, say experts.
Embassy REIT’s IPO a long-term play on rental assets
Investors could expect yield of 7.4-8.3 per cent pre-tax in FY20.
At 18%, Mumbai rent inflation highest among five cities: Report
The average rent in MMR jumped to Rs 21,168 last year from Rs 17,912 in 2017 followed by Chennai and Bengaluru with 15% and 14% increase, respectively.
Oyo forays into long-term rental sector, targets young professionals migrating to new cities
The division has on-boarded about 36 properties with 2,000 beds, and the plan is to scale it to about 50,000 beds in the next one year across the top 10 metros.
Investors' pain becomes buyer's gain as housing prices stagnate
A sharp decline in property price appreciation in top Indian cities is turning the country's realty market into a homebuyers' paradise.
IT tenants' safety deposits unsafe in house owners' hands
IT industry employs over 10 lakh people and the concentration of these companies in certain parts of the city has opened up a lucrative industry for property owners
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