Bengaluru is a city with more than 1 million people. The technology sector here is filled with thousands of professionals from all over India every year. The city offers a lot of career opportunities and a thriving startup space, but it also has a big problem - affordable housing.
Most IT workers live close to the workplace and pay a lot of their money to rent there; for them, living close to the workplace is the first thing they think of. A long post by a Bengaluru professional has helped bring attention to how the high rental costs are driving people to live in such expensive communities and the consequences of high lifestyle inflation.
The discussion began on Grapevine, an online platform for professionals, where a user named “MilkyClick” described his experience of paying a staggering ₹45,000 per month for a 1BHK apartment in HSR Layout, one of Bengaluru’s most sought-after residential localities.
The employee said he was driven by his social influence and the need to follow trends in HSR Layout, and with the help of his colleagues and friends in and around that city, he felt it was the right place to live. But gradually, he found that the very high rent had been putting much pressure on his finances.
In his post, he described the rent as “pure madness” and said he felt relief after getting out of the area. He said the decision took a lot of the financial burden from him. He was earning a decent annual salary of ₹24 lakh, but living in one of Bengaluru’s most expensive neighbourhoods was consuming too much of his money.
What was frustrating, he said, was that money wasn’t worth it. He visited about 15 properties in search of accommodation, and only three were reasonably habitable, and only one had a reliable Cauvery water supply. It was that experience that really left him questioning whether the premium rents in the area were really justified.
The turning point was when a friend encouraged him to spend time in a residential society just a bit further away from the city’s biggest IT corridors. He found that even if it meant a little bit more distance from the bustling startup hubs, he found a more peaceful environment, better facilities and much lower rental charges.
And this was when he realised that he had been trapped by “peer pressure.” The desire to keep up with the lifestyle choices of others had led him to financial impotence. He was able to manage his money better by moving to a more affordable residential neighbourhood and keeping himself fairly well off.
His post soon attracted Bengaluru residents, many of whom had similar experiences. Some users were surprised that a 1BHK apartment could command a monthly rent of ₹45,000. Others said they paid around ₹50,000 for much larger 2.5 BHK homes in the same city.
But not everyone agreed with his choice. Some professionals said living near the office has its benefits. Shorter commuting times can help reduce Bengaluru’s notorious traffic congestion, relieve stress and even prevent health issues like back pain that occurs when people travel a lot for hours and hours.
Others supported the employee’s decision, in their own way, by moving to less expensive areas like Yelahanka and finding larger houses, better amenities and a higher quality of life without increasing their budgets.
HSR Layout (Hosur-Sarjapur Road Layout) is one of the most desirable residential areas in Bengaluru. The area is developed by the Bangalore Development Authority (BDA). It is connected to big IT centres like Electronic City, Outer Ring Road and Sarjapur Road.
But the success of the area has also elevated property prices and rental rates to unheard-of levels. Supply is higher than demand, and you’re seeing more and more professionals in the area question the necessity of a premium location and whether it is worth the money.
The viral story reminds us that Bengaluru’s tech-based ecosystem has so many opportunities, and it is actually a well-run industry, but professionals have to marry their lives and money in the long term. In a city that has skyrocketing housing prices and high rents, the good part is to choose a well-paying job and do so with well-informed housing decisions.
