Bengaluru PG rents expected to rise by 5% soon, residents brace for impact

Bengaluru PG residents face a potential 5% rent hike as the PG Association plans a meeting with owners to discuss rising costs of essentials. The increase will vary by location and accommodation type. Residents are advised to stay updated on the final decision.

Bengaluru: Paying guest residents in the city are in for a shock as the PG Association is considering raising rental prices by 5% in the coming days. The news has left many residents worried as the cost of living in Bengaluru continues to climb.

The PG Association is planning a meeting with PG owners within the next three to four days to discuss the price hike. Sources suggest that this decision is driven by the increasing difficulty in managing PGs due to the rising costs of various essential items. 

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Rent for private buildings, water rates, and grocery prices have all seen significant increases, pushing the PG Association to reconsider the current rental rates. Interestingly, despite the economic challenges posed by the COVID-19 pandemic, PG rent rates remained unchanged during that period. However, with the current unavoidable circumstances, the association feels that a hike is necessary.

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The rent increase will not be uniform across all PGs. Each PG has its pricing structure, and the association plans to add a new rate on top of the existing rents, which will vary based on the location and type of accommodation.

While the official rate increase will be announced after the meeting with PG owners, residents are advised to stay updated on the final decision.  This move has left many PG residents concerned, as the ongoing rise in living costs continues to put a strain on their finances.