In a surprising move, students and employees staying in private hostels and paying guest accommodations (PGs) across Bengaluru are preparing for a rent increase. The PG Association has announced plans to raise rental prices, citing the strain of higher operational costs due to escalating prices of essential commodities.
While PG owners avoided rent hikes even during the difficult COVID-19 period, they now find it necessary due to surging costs for utilities like water, groceries, and building rent. These increases have reportedly made it challenging for PG facilities to remain operational without raising rents.
Sources reveal that the PG Association will hold a meeting with PG owners in the next few days to discuss and finalize the rent hike. This development has left many residents concerned about their budgets.
As for the hike’s extent, while PG rents in Bengaluru already vary depending on location and facilities, the association suggests a 5% increase across the board. However, the exact rate may fluctuate, pending discussions with PG owners.
The news has caught many off guard, with one resident commenting, “We never expected a hike, especially since there was no increase even during the pandemic.” The looming rent rise has left many students and professionals worried about their living expenses in the city.
The official announcement regarding the hike and its implementation date is expected soon.
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