Housing deposits
Ambler
India > Moving to India? > India Expat Area > Community Forums > Moving to Chennai
#1
| Senior Member

Housing deposits

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.

14 Replies

#2
| Member
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
| Maha Guru Member
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
| Senior Member
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
| Senior Member

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
| Senior Member

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
| Senior Member
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
| Senior Member

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
| Senior Member

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
| Senior Member
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
| Senior Member
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
| Senior Member
Not that red, purple and yellow are odd choices...hope no offense was taken!
#13
| Member
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
| Loud Noisy Bird

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
| Senior Member

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. :dontgetit

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