Chennai
Chennai is a major commercial, cultural and educational center in south India. It is home to some of the best education institutes and research centers. The emergence of industrial growth and employment opportunity in the city attract a steady stream of skilled professionals, which further fuels the demand of PG accommodation. But unlike Delhi, the city attracts more working population who come to establish their careers than students across India.
The non-Tamilian populations that migrate to Chennai for jobs prefer to stay in PG accommodation as it provides the best and cheap temporary staying options. “Demand for PGs is driven by the working class in Chennai. This is due to the fact that most of the educational institutes have accommodation facilities and students prefer to stay within their campus,” says Ramesh Babu from Bhairv Foundations, a local realtor.
“This demand is comes more from boys as most of the non-Tamil working population is male. Men have more mobility for employment as compared to women,” he adds.
According to realtors in Chennai there is a huge demand for PG accommodation but supply is lower than the demand. Therefore the rents are high in a few localities which can be afforded by working section of the society.
“The advance for a rented apartment is as high as 6-10 months whereas for PG it is limited to just 1 month. 90% of the IT professionals do not settle here and hence PG is safer bet for them,” says Vipul Chaudhry, a local realtor from Earth Homes.
MagicBricks.com finds out which are the localities in Chennai that offers good PG accommodation and at what price.
The areas like Anna Nagar, Triplicane, OMR, Thrivanmiyur are few localities which high in demand for PG accommodation owing to its high residential occupancy rate, accessibility and connectivity. These areas are well surrounded with many schools, colleges, IT Parks, plus all facilities like shopping complex, transportation facility, such as buses, electric trains, etc.
Also, these areas offer a rent that easily fits into the pocket of a working population.
The PG accommodation in Thrivanmiyur and Triplicane areas are almost same. The rent varies between Rs 1200-8500 per month, depending upon the occupancy whereas the PG in locality like Anna Nagar starts at higher price.
This is because the area is one of the prime residential areas in Chennai that hosts number of well established schools and colleges, places of worship, shopping areas with both independent shops and chain stores and numerous restaurants. There are also a number of mid size hospitals and nursing homes catering to the local population.
Anna Nagar is also well connected with roads and railways. The locality has two bus terminuses and railway station. Therefore the area is best suited for outsiders who come with concerns of getting to know their way about, and learning to deal with people in an alien land. Here the rental values for PG accommodation starts from Rs 5000 and can goes up to Rs 8000 per person depending upon the facilities.
Another locality Chennai which has seen the spurt in demand for PG accommodation is Oragadam. The town is known for its various industries and workshops pertaining to the automobile sector. Oragadam has seen major investments from foreign companies in recent times. International Automobile majors like Daimler, Renault – Nissan, Komatsu have set up their car manufacturing plants here and will use it as a base for sourcing for their international markets. This has further open many job opportunities, and hence, the rush of working population looking for PG accommodation is obvious. Looking at the commercial development happening in the locality, the local realtors, said that today Oragadam is high in demand for PG accommodation by the migrants coming to work in the city.
Neha Nagpal, MagicBricks.com Bureau
Visuals by Harsha Khattar
Source: http://content.magicbricks.com/professionals-drive-demand-for-pg-accommodation-in-chennai
