PG accommodation – Growing demand for PG accommodation in Chennai – With the growing population of single professionals in Chennai, city-based realtors are receiving number of queries for single bed accommodation, close to office area and in vicinity to market places.
“People from other states are single and prefer Paying Guest (PG) accommodation. These units are well furnished with basic necessities, required in daily life,” says D Tony, a local broker dealing in PG homes.
As per the Magicbricks data, maximum number of such accommodation is available in Thiruvanmiyur within the price range of Rs 3,500-12,000 per month. Thorapakkam, Medavakkam and Adyar are the other locations where single bed units are available at a monthly rent of Rs 4,000-12,000.
Most of the PG accommodations are equipped with features such as, unlimited Wi-Fi connectivity, refrigerator, LCD television with DTH connection, common sitting area with sofa and dining table and two meals per day. A single bed, a study table and a wardrobe is available in each room separately for every individual.
Demand analysis
Majority of the demand for PG accommodation is in locations which are close to the IT corridors of the city. Sholinganalur, OMR, Karaipakkam are the most demanded localities for rental accommodation. However, maximum supply is concentrated in Thiruvanmiyur, which is based 12-km from the main corridor, but has cheaper transportation towards the industrial end.
Of all the loaclities, Medavakkam is closest to OMR and Sholinganallur where single bed accommodation is available within Rs 4,000-8,000 per month.
“People coming to the city from other states live here for hardly three-four months during their training period. Hence, they prefer PG accommodation rather than renting 1BHK apartments, where they have to pay large amount of security deposit,” says Ajinkya Sheth, owner of a PG accommodation in Medavakkam.
With the growing migrant population, the city is set to receive increasing number of queries for single bed accommodation. However, with limited options, one may need to shell out more money and look for 1BHK apartments in preferred areas.
Source -Times of India Magicbricks.com Bureau