'₹70K for a 2BHK in Koramangala, ₹80K in New York': Analyst calls Bengaluru rents insane

A Hyderabad-based financial analyst, has set off a heated debate on LinkedIn with a startling comparison: renting a 2BHK in Koramangala, Bangalore, now costs ₹70,000 a month—just ₹10,000 less than a similar apartment in a New York suburb. 

The revelation by Hardik Joshi has left many questioning how Bangalore, once seen as an affordable hub for professionals, has arrived at a point where living costs rival those of one of the world’s most expensive cities.

Joshi calls the situation “madness” and pointing to the widening gap between demand and supply. Bangalore continues to attract thousands of new residents each year, but the housing supply has failed to keep pace. 

With more people moving in and few new homes being built, the rental market has become a landlord’s paradise, where property owners hold all the cards. The result? Spiraling rents that leave tenants with little choice but to pay up or move out.

The frustration doesn’t stop at high rents. Even as tenants shell out near-New York prices, the city’s infrastructure struggles to keep up. Long commutes, congested roads, and a public transport system that lags behind demand make daily life a challenge. 

Joshi sums it up bluntly: “You’re paying New York prices to live in a city where a 10 km commute still takes an hour.”

Bangalore’s rental explosion is reshaping the city’s housing landscape, with some areas seeing sharper spikes than others. North Bangalore, particularly Hebbal, Hennur, and Thanisandra, is witnessing rapid appreciation, with rents expected to climb by 20-25% due to its proximity to the airport and ongoing infrastructure projects. 

The outskirts of Whitefield, including Glenwood Layout and Varthur Road, remain a stronghold for tech professionals, with rents projected to rise by 10-20%. Sarjapur Road is following a similar trend, benefiting from its connectivity to IT hubs, while Kanakapura Road is seeing heightened demand thanks to new infrastructure developments.

A decade ago, Bangalore was the city of possibilities—affordable, dynamic, and full of promise. Now, many are wondering if it has become India’s most overpriced city, forcing professionals to reconsider their options.