How much security deposit to be collected by owner while giving property on rent in India?
Different cities in India have different trends in terms of security deposit. While a lot also depends on the negotiations between owner and tenant on the final figures, Multiples of a month rent as acceptable advance in various cities in India
Pune – 5 months of rent has to be paid as security deposit
Noida – 1 month of rent
Bangalore – 10 months of rent
Hyderabad – 2 months of rent
Chennai – 4 months of rent
Delhi – 2 months of rent
Mumbai – 5 months of rent
Gurugram – 3 months of rent
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Pryank Agrawal is the Founder and CEO of Housewise, a leading property management startup serving customers across 34 countries with operations in 13 Indian cities, including Pune, Bengaluru, Hyderabad, Chennai, Delhi NCR, and Mumbai. An engineering graduate from IIT Roorkee, Pryank brings extensive experience from the software industry. His passion for leveraging technology to solve real estate challenges led him to establish Housewise, simplifying property management for homeowners worldwide. After persistent requests from existing customers to address other challenges faced by Non-Resident Indians, he founded MostlyNRI, a dedicated portal assisting NRIs with services such as taxation in India, degree attestation, certificate procurement, RTO and banking-related requests, will and inheritance matters, and much more.