India, Aug. 13 -- Bengaluru's once surging residential rental market is showing signs of cooling, with rates for premium apartments falling sharply after two years of relentless increases. Rents for 3BHK units, which landlords were confidently demanding at Rs.50,000- Rs.75,000 just months ago, are now being negotiated down to Rs.35,000- Rs.55,000, a drop of nearly 25-30% in several neighbourhoods, one of the X users posted on the social media platform.

"I am experiencing that the residential rents in Bengaluru are falling like crazy. Landlords earlier demanding 50K-75K monthly rents for 3BHK are now welcoming tenants for Rs.35k-55k," the post by Kiran Rajput said.

Rajput pointed out that the areas that saw the rentals falling include Ra...