Rent negotiation

[mom2gurls]

How much is the average negotiation on renting a villa these days in whitefiled? Seems like the rents are crazy 2 lakh plus in some areas.

Does 20-30% sound right?

[nhvcorp]

2 lakh plus is way too much for a villa in Whitefield. What are your requirements in terms of no. of bedrooms, space requirement etc..?

[mom2gurls]

I was just posting from seeing certain developments (Palm meadows) (ozone)...etc etc....epsilon....thought it was crazy. That what it shows on craiglist too.

Thought the rates were inflated by at least 30-40%. So something that fits the bill for 3 lakhs (for example only)..would realistically mean 2 lakhs.

[direstraits88]

Most owners think they can demand any amount. They won't mind letting the home be vacant but they'll stick to their demand. It's "prestige" issue for them to reduce the rent. And i think there's demand since quality housing is in short supply in Bangalore particulatly SFH in a secure community.. I think there may be no more than few hundred of these particularly the larger ones. So you may want to find out first hand from someone living in the community about current rent.

The 20-30% price discount may be true for a dress/gift and similar items. It's doesn't apply to house rentals.

I see rental of 3000 sqft - 6 bedroom home in Adarsh palm meadows for 2 Lacs on craigslist. Are you looking for the 7500 sqft home ?

[returning_indian]

There are houses in Gurgaon/Delhi which rent out for more than 6lacs per month. Some even more. They are never vacant. Most of them are rented by big companies and are on perennial contracts. Nobody except company officials live there. Actual value of these houses is easily more than 25-30 crores. Logically they should be rented for atleast 20 lacs per month to get FD ROI. But in India rents are extremely low compared to other investment vehicles.

Big company officials have extremely high expenses paid by company and companies nowadays do not mind shelling out big bucks. You can try negotiating, it cannot hurt. Its all dependent on demand and supply. My guess is, there should be more demand than supply.

Another eye opener is hotel room rent. Some five star hotel go in range of lacs per night.

[hope4best]

How much is the average negotiation on renting a villa these days in whitefiled? Seems like the rents are crazy 2 lakh plus in some areas.

Does 20-30% sound right?

2 Lakhs plus Rent?

No pun intended. Does Rupee have any value in India or it's just a official paper only?

[returning_indian]

2 Lakhs plus Rent?

No pun intended. Does Rupee have any value in India or it's just a official paper only?

As soon as you start wanting to live like Ambanis, cost of living goes very high. For those ready to adjust a little bit, rent of Rs. 15-20k/per month will get you very decent 3 bedroom flats in decent areas of NCR. Most people who pay for such luxuries, are doing on company dime. When it comes to their own expenses, they lead very middle class lives.

In Bangalore, I am assuming you are competing with Murthies and Premjis for those villas. You are bound to lose.

[sftrade]

Some people complain 20k is too much for rent, others complain that 10k is too high. If you want to be a part of an 'exclusive' community you would have to pay that 'exclusive' price. The market for exclusive goods is too limited to get a generalized answer.

[mcr]

In Bangalore, I am assuming you are competing with Murthies and Premjis for those villas. You are bound to lose.

I don't know about Premjis but I hear Murthys live in a simple house in Jayanagar.

[sftrade]

Murthy's also own an apt in one of the most expensive locations in Mumbai, Samudra Mahal. It is best not to compare his lifestyle to anyone on R2IClub forum