Hyderabad: The rental market in Hyderabad is set to boom once again as companies in the city have put an end to work from home.
As most companies especially those from the IT sector have asked employees to begin work from office, techies who have gone to their native places after the outbreak of COVID and were working remotely have to return to Hyderabad.
Once they are back in the city, the rental market is bound to rise. PG, hostels will also become a lucrative business.
As the techies prefer to reside near IT/ITES hubs of the Financial District, most of the residential sales are taking place in the west and north Hyderabad.
The rental market in areas such as Gachibowli, Kondapur, Miyapur, LB Nagar and Adibatla, most of them in proximity to the IT corridor is booming.
|Area||Rent (in thousand)|
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Points to be remembered when renting out a portion
House owners can earn extra money by renting out a portion of their property but they have to keep in mind a few things before signing an agreement with the tenant
- Obtain a copy of any government identity card i.e., PAN card, Aadhaar Card, Passport, etc.
- Ensure that tenant has no criminal history.
- In the rent agreement, mention all the points including maintenance, rental hikes, security deposit, notice period, etc.
- If you are renting a flat that is furnished, mention the items too in the rental agreement.
End to work from home will increase income of cab drivers
Ever since the outbreak of the pandemic, cab drivers are witnessing a dip in their income. Some of them even quit the profession.
Now, the end of work from home and the return of techies to the city is good news for them as their income is set to rise.
The end of work from home will not only help cab drivers but will also improve the income of most of the public transport too. Hyderabad Metro Rail will also see a rise in a number of passengers.