On craigslist I recently I came across an advt for rental property in Bangalore for 110 k Rs/month with an 11 month deposit plus 1 month brokerage. The furnished apartment was in the Koramangala area and supposed to be premium property.
On a rough calculation basis for 10 month deposit 11L for 11 month lease @ fixed income of 6% interest will yield approx 60k/year. The brokerage which is 1 months rent equals another 110k
The rent payable by the renter would be 121L + 60k + 110k = 138L/11 month = 1.25L/month which is approximately $2750/month. This surely is comparable to the bay area housing.
Now thinking about the renter, is he doped or just plain stupid ?
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1 comment:
hi Vyas
Is there a email ID, I can contact you at..
Thanx
Annam
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