India, June 8 -- Bengaluru's luxury villa market is seeing a surge in demand, with monthly rents now reaching as high as Rs.4 lakh. In one case, a 10,000 sq ft villa in Prestige Golfshire near Nandi Hills was leased to a senior executive of a multinational company for Rs.4 lakh per month, twice the rent fetched by a similar property in the area just two years ago. Brokers told HT.com that the security deposit for the deal exceeded Rs.20 lakh.

Once considered an exclusive luxury, villas in Bengaluru are now drawing strong interest from high-end tenants, with demand driven by HNIs and NRIs. Brokers point out a strong interest in the segment, prompting developers to roll out new villa projects priced between Rs.2 crore and Rs.5 crore.

Acco...