 "Bengaluru realty estate")
The citizens of the southern state of Karnataka will gather outside poll booths on May 10 to elect the next government in the state.
The three main political parties (Janata Dal Secular, Congress, and Bhartiya Janata Party) have offered freebies including free gas cylinders, food grains, and affordable housing to woo the voters, however, real estate pricing remains a cause of concern for those living in Bengaluru particularly.
This comes at a time when several neighbourhoods in Bengaluru are witnessing a double-digit spike in property rents, since 2019, according to a report in Economic Times. Amid a rise in the disputes, the chorus now grows for The Model Tenancy Act in the state.
The report also suggests that the Bengaluru tenants are accustomed to paying security deposits that range from 7-12 months' worth of rent, at a time when the rents have seen a steep climb.
It also states that a month’s rent is usually also deducted from a tenant’s account for maintenance and painting purposes when the tenant moves out. The tenants have also accused landowners of excessive interference, with some comparing house hunting in the city to clearing interviews at the likes of tech companies.
According to the report, residential concerns are a major issue among tenants of Bengaluru Urban, the richest district in Karnataka. However, addressing these grievances failed to find a mention in the long drawn-out campaigns.
Following a short-lived Coronavirus induced lull, Bengaluru's residential market has been on a sharp rise with rents climbing steeply.
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ET spoke to Santhosh Kumar, Vice Chairman – Anarock Group, who said, "Recently there have been numerous occasions where property owners have increased rentals during renewals, which have violated the lease agreement. Many tenants were also forcefully evicted during the term of the lease."
The state government has taken some steps in this regard to increase real estate demand in the state. Even though Karnataka RERA was adopted in 2017 to ensure transparency in the real estate market, tenants are now demanding the adoption of the Model Tenancy Act.
The report suggests, "Should the Model Tenancy Act be deployed in the state, the deposits will be limited to six months for commercial and two months for residential assets which will be easier for many individuals."
According to the Ministry of Housing and Urban Affairs, the Model Tenancy Act, 2021, is an act to establish rent authority to regulate renting of premises and protect the interests of landlords and tenants, and provide a speedy adjudication mechanism for the resolution of disputes and matters.
