Housing deposits

#1 Sep 9th, 2008, 16:39
Join Date:
May 2008
Location:
Chennai
Posts:
142
  • Ambler is offline
#1
Hello. Can anyone generalize the number of months rent that landlords generally ask for as a deposit (when moving into a flat) in Chennai? I know I've seen this information on this forum somewhere, but have scanned quickly and can't find it. One ad I saw asked for 6 months rent as deposit, but I think I've read here that the deposit can be up to 10 months? We're moving in a few weeks and I'm trying to get all my money issues in order...

Thanks.
#2 Sep 9th, 2008, 16:56
Join Date:
Sep 2008
Location:
delhi
Posts:
62
  • tinerrz is offline
#2
dunno bout channai but bangalore is 10 months deposit. delhi is only one month. sometimes u can pay a little increased rent for a smaller deposit. soz cant be more specific.
#3 Sep 9th, 2008, 17:13
Join Date:
Feb 2007
Location:
India
Posts:
2,388
  • pmvelu is offline
#3
In Chennai, the norm is "10 Months Rent as Deposit" and as you are going for an apartment , Rent wise, it will be monthly rent + maintenance charge .

Hope this helps
#4 Sep 9th, 2008, 17:41
Join Date:
Jul 2008
Location:
Chennai
Posts:
235
  • luckyshibu is offline
#4
It depends on the rent. If the rent amount is generally small lets upto 20K you are expected to pay 10 months deposit. Anything above 20K rent you should negotiate with owner of the house for 6 month deposit, they'll try to persist with 10 months but negoatiating will make them come down 6 months. And as to my knowledge no one pays more than 6month deposit for rents for more than 20-25k.
#5 Sep 9th, 2008, 18:03
Join Date:
May 2008
Location:
Chennai
Posts:
142
  • Ambler is offline
#5

This is a great help!

Thanks, all! Very helpful indeed. I'm gearing up for quite an adventure apartment hunting when we hit Chennai soon...
#6 Sep 9th, 2008, 19:51
Join Date:
Jul 2008
Location:
Chennai
Posts:
235
  • luckyshibu is offline
#6
Quote:
Originally Posted by Ambler View Post Thanks, all! Very helpful indeed. I'm gearing up for quite an adventure apartment hunting when we hit Chennai soon...
it is definitely an adventure only.. trust me.. just don't trust real estate agents.. refer sulekha, magicbricks,primelocator and contact house owners!!!
#7 Sep 9th, 2008, 20:28
Join Date:
Jul 2007
Location:
Chennai
Posts:
370
  • mirjamd is offline
#7
It really depends on the houseowner. My friend is searching for a place now, and she has been quoted figures from Rs. 50.000 to Rs. 100.000. And she looks at rent about Rs. 10,000 a month.

It seems the deposit is negotiable, so give it a try...
#8 Sep 10th, 2008, 09:00
Join Date:
May 2008
Location:
Chennai
Posts:
142
  • Ambler is offline
#8

do you actually get your deposit back?

Do you actually get your large security deposit back when you move out of an apartment in Chennai? Where we live now (Chiang Mai, Thailand) it is usually very difficult to get the housing deposit back. We have a good relationship with our current landlady, so I'm hopeful we'll get most of our two months security back, but I'm not counting on it.
#9 Sep 10th, 2008, 13:28
Join Date:
Jul 2008
Location:
Chennai
Posts:
235
  • luckyshibu is offline
#9
Quote:
Originally Posted by Ambler View Post Do you actually get your large security deposit back when you move out of an apartment in Chennai? Where we live now (Chiang Mai, Thailand) it is usually very difficult to get the housing deposit back. We have a good relationship with our current landlady, so I'm hopeful we'll get most of our two months security back, but I'm not counting on it.
Uaully you do. Depends on your landowner and also how much you have xploited the house :P. IF they are major damages he may deduct from ur deposit and repay (some ppl try to make money in it). Ut if some minor damages and your owner is really good and you have good relations you mostly get 95-99% of your deposit. Donm't expect 100%.
#10 Sep 10th, 2008, 15:10
Join Date:
Jul 2007
Location:
Chennai
Posts:
370
  • mirjamd is offline
#10
I agree with Luckyshibu, usually you get the deposit back.

One of my friends was not so lucky though. She painted the house in all kinds of funky colours, and the landlord said he didn't want to give her deposit back, because of that...

We also painted our house with a lot of colours (red, purple, yellow), so I hope we will get ours back....
#11 Sep 10th, 2008, 18:04
Join Date:
May 2008
Location:
Chennai
Posts:
142
  • Ambler is offline
#11
That's good that most of the deposit comes back. It's entirely reasonable for a house owner to deduct for excessive wear and tear (and odd paint choices).

Thanks for the info.
#12 Sep 10th, 2008, 18:05
Join Date:
May 2008
Location:
Chennai
Posts:
142
  • Ambler is offline
#12
Not that red, purple and yellow are odd choices...hope no offense was taken!
#13 Sep 14th, 2008, 19:45
Join Date:
Sep 2008
Location:
chennai
Posts:
3
  • vanajalaks is offline
#13
Yes, 10 months is the norm. But, for higher rents, a 6-month deposit is prevalent. You should use a trusted local source in Chennai to do the negotiations/ talk to potential home-owners.
#14 Sep 14th, 2008, 22:12
Join Date:
Oct 2004
Location:
Chennai, India
Posts:
70,952
  • Nick-H is offline
#14
Quote:
Originally Posted by Ambler View Post Not that red, purple and yellow are odd choices...hope no offense was taken!
They could be fairly odd altogether on the same wall!
~
Life gets aadhar every day.
.
#15 Sep 16th, 2008, 17:10
Join Date:
May 2008
Location:
Chennai
Posts:
142
  • Ambler is offline
#15
Quote:
Originally Posted by vanajalaks View Post Yes, 10 months is the norm. But, for higher rents, a 6-month deposit is prevalent. You should use a trusted local source in Chennai to do the negotiations/ talk to potential home-owners.
Thanks, Vanajalaks! Turns out we actually have some people scouting for a flat for us already (at least, they are theoretically...) so I'm hoping we can avoid some of the more unpleasant aspects of apartment-hunting. We'll see what actually happens when we arrive in just under three weeks.

Similar Threads

Title, Username, & Date Last Post Replies Views Forum
housing on ECR Nov 4th, 2008 21:26 27 5027 Moving to Chennai
Housing Jul 23rd, 2008 03:38 0 1287 Chennai (Madras)
housing Oct 8th, 2007 09:04 14 3767 Moving to Chennai
Tsunami deposits Titanium Ore on TN beaches? Jan 14th, 2005 17:01 0 2041 Tamil Nadu


Posting Rules

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Forum Rules»
Trackbacks are Off
Pingbacks are Off
Refbacks are Off
Thread Tools
Display Modes

Search Engine Optimization by vBSEO 3.3.2
© IndiaMike.com 2018
Page Load Success