There are many who have decided to venture into the PG business in Bangalore. There are four primary locations in the city where there is an influx of PGs – Bagmane Tech Park in C V Raman Nagar, Manyata Tech Park in Hebbal, Christ University in Koramangla and ITPL in Whitefield. Let’s have a look at what makes Bangalore a a favourite when it comes to PG accommodation.
Most PG Owners Are from Around the City
Running the business of PG in electronic city , for several owners the rent money is a steady source of income. Most of these pg owners own agricultural plots around the city and the produce from their agricultural lands support their business. Majority of the PG owners around the prime locations are from Andhra and Telangana. Their seasonal harvests provide food for their PGs. This way they save the money they otherwise would have spent on buying lentils for sambar and dal, rice, wheat for rotis and vegetables like tomatoes, onions, potato etc.
Most of the owners rent buildings with three to five floors. Here they invest in creating laundry, kitchen and bedding facilities and rent out these rooms to young men and women. They charge anywhere between 5500 to 8000 INR, depending upon the kind of room and the number of occupants in the room. This rent from each tenant makes for handsome income for the PG owners.
Presence of IT Giants
Several companies, especially technology giants like IBM, Cognizant, Accenture, Tesco, Dell, Oracle and HP, have established their branches in prominent IT parks in Bangalore. This results into influx of more and more people into the city. These new employees are looking to find accommodations in these PGs. The various facilities offered by the PG accommodations make it an attractive and convenient option for young job seekers.
PGs More Preferred than Independent Rented Apartments
You will be surprised to that that it is easier to find PGs than apartments in Bangalore. Apartments are not favoured much as they require a huge amount of money as security deposit. The facilities provided by the pg in indiranagar give maximum convenience in terms of laundry, cleanliness, food, which the individual apartments do not provide.
On the other hand, for some young people it is not just laundry and food facility that makes a PG accommodation their first choice. It is the lure of finding accommodation, within the walking distance from their place of work is the attraction. Let’s not to forget the good south and north Indian meals three times a day, along with Wi-Fi, seems like a much better option than having their own apartment.
Great Amenities and Convenient Location
PGs in Bangalore are quite budget-friendly and they amongst themselves to provide maximum value for rent. On an average, a twin sharing room costs between Rs 6,500 to Rs 8,000 per month, depending on the location and inclusion of food. Cost of a 3-sharing room is much cheaper and it ranges from Rs 5,000 to Rs 6,000 per month. It is unbelievable but this monthly rental also includes breakfast, lunch and dinner, washing machines, a fridge, microwave and Wi-Fi. No wonder it seems like a complete package and too good a deal for an expensive city like Bangalore.
Apart from being at a comfortable walking distance from most of the office complexes, an added benefit these PGs provide in terms of presence of other services located in their area. These PGs are strategically located where there is presence of a grocery store, unisex salons, juice centres, snacks and tea counters, pharmacies besides the small stores that sell electrical appliances, footwear and linen. This makes the life at PGs quite comfortable and hassle-free.
PGs offer a secure accommodation to females residing alone in the city. But things are not always rosy for the fairer sex seeking PG accommodations. PG owners are quite dictatorial towards their female residents and often enforce rules such as having strict visiting hours, no smoking and drinking. They are not allowed to entertain male visitors and the PG owners often take it on to themselves to moral police the girls.
With all its pros and cons, the business of PG accommodations is only likely to grow in the city as hiring for various multi-national companies continue to see upward trend. The PG accommodation industry is sure to continue flourishing. As the IT parks are only going to get bigger, there will be more employee recruitment. This is going to further increase the demand for PGs. Also, Bengaluru is home to many educational institutions, which means there will be continuous inflow a large student population and a young professional crowd every year.