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HOW TO FIND A HOUSE IN WHITEFIELD AND WHAT ARE THE OPTIONS?

Bangalore, the country’s start-up and tech capital; the Silicon Valley of India, is expected to be Asia’s fastest growing city this year. Bangalore city unquestionably is a millennial’s paradise. With a horde of multi-national corporations setting up large scale offices and employing in masses pan India, close to 77% of Bangalore’s tech workforce are millennials with millions of migrants relocating from different parts of the country, looking for quality, all-inclusive and short-term rental accommodation. With well-established physical infrastructure; arterial road that runs through the city, ring road connectivity, railway station, metro line and thriving urban culture and amenities, Whitefield has become a residential haven, making it ideal for proficient tech savvy millennials to rent homes in this township. For migrant millennials moving to Bangalore for jobs, Whitefield has a plethora of 1BHK and 2BHK homes for rent, given the ease and connectivity it provides to the workplace and rest of the city. However, it isn’t easy moving homes, especially into a new city altogether, it is a cumbersome process which involves important financial and lifestyle-based decisions to make. Typically, for someone house-hunting in Whitefield, especially for migrants, is to go online and google search, “flats for rent in Whitefield”, “fully furnished 1BHK homes for rent in Whitefield”, “budget homes for rent in Whitefield” and so on. The search will pull up an astounding number of housing and rental property sites with pictures and videos, making one’s shortlisting process confusing. Before throwing in their search into a vast pool of online listings and ads, it is far more effective for renters to, firstly, understand their “must haves” or non-negotiables in place. Such as: · Knowing the locality, and Whitefield specific rental rates · Fixing their rental budget and type of homes they want - 1/2/BHK or Studio type · Deciding on a fully furnished flat or semi-furnished? Do they prefer homes that comes with in-built facilities or the routine? · Are they particular about developer brands or private owned building? Or if they are they looking for managed apartments or standard properties? The current go-to rental options would be in the categories of Co-living, Luxury Paying Guest, Accommodation, Managed Apartments or the standard to-let properties available for rent. The latest rental model picking up pace and expected to be the new go-to for modern renters is the Build-to-Rent (BTR) model wherein properties are built or acquired from scratch to capitalize on a higher property-tenant fit, meaning properties are built or designed to include furnishing, services and amenities to make it ready-to-move in for the renter. BTR models are meant to be more privatized, flexible and organized for renters without losing out on managed services and amenities. Kots Housing Pvt. Ltd. is one the first leasing companies to bring in the BTR model, actively operating in the IT Hubs of Bangalore, focusing on the white collared millennials as their target group. Another way to look for houses, of course, could be through friends/colleagues/relatives who live in Bangalore, get cues on which websites, sub-locality or spots to consider in Whitefield.
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renukaprasad

Why BTR is the Future of Rental Housing in India?

Rental housing in India is one of the oldest business of the civilization, people have shared their space to profit out of it for a long time now. Over the period of time, people rented the free space in their premises then bought pre-built houses to rent or rented their old house after they shift. But now is the era of built-to-rent (BTR) where the houses are built to suit the preferences of the renter and the houses will only be used for residential renting and nothing else. PROBLEMS: National challenges Urbanization India is a country with the second highest population in the world, currently about 1.4 billion, it’s soon expected to have the highest number of millennial population in the world with the average age of the population ranging in early 30s. Indian cities contribute to only 3% of the nation’s land but is home to one-third of the population. According to InvestIndia, ‘Urbanization is increasing in India with 25-30 people moving to major Indian cities every minute’. Indian cities are preparing for the biggest human migration on the planet and is expected to accommodate 600 million people in its cities by 2030. Cities like Bangalore in India will have 25% more population and is anticipated to cope up with the increasing needs of the cities for the foreseeable future. Though Indian cities are home to a minority population, they contribute to 2/3 of the nation’s economic output. A total of 17 of the 20 fastest growing cities in the world between 2019 and 2035 will be Indian, an Oxford Economics report has said. The Indian middle-class population is expected to have a growth rate of 8.3% until 2030 doubling its middle-class population. So, the spending share (consumer spending) of the Indian middle class is expected to grow to 80% accounting to an additional $1 trillion in consumer spending by 2030. The Indian urban population is said to contribute about 75% of the total GDP of India by 2030. A 2.5X increase in consumer spending and a 25% increase in the urban population results in a lot of people ready to spend a lot of money to get their needs fulfilled (housing), mainly in the urban areas of India leading to a huge increase in demand for urban housing.
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renukaprasad

HOW TO FIND A HOUSE IN WHITEFIELD AND WHAT ARE THE OPTIONS?

Bangalore, the country’s start-up and tech capital; the Silicon Valley of India, is expected to be Asia’s fastest growing city this year. Bangalore city unquestionably is a millennial’s paradise. With a horde of multi-national corporations setting up large scale offices and employing in masses pan India, close to 77% of Bangalore’s tech workforce are millennials with millions of migrants relocating from different parts of the country, looking for quality, all-inclusive and short-term rental accommodation. With well-established physical infrastructure; arterial road that runs through the city, ring road connectivity, railway station, metro line and thriving urban culture and amenities, Whitefield has become a residential haven, making it ideal for proficient tech savvy millennials to rent homes in this township. For migrant millennials moving to Bangalore for jobs, Whitefield has a plethora of 1BHK and 2BHK homes for rent, given the ease and connectivity it provides to the workplace and rest of the city. However, it isn’t easy moving homes, especially into a new city altogether, it is a cumbersome process which involves important financial and lifestyle-based decisions to make. Typically, for someone house-hunting in Whitefield, especially for migrants, is to go online and google search, “flats for rent in Whitefield”, “fully furnished 1BHK homes for rent in Whitefield”, “budget homes for rent in Whitefield” and so on. The search will pull up an astounding number of housing and rental property sites with pictures and videos, making one’s shortlisting process confusing. Before throwing in their search into a vast pool of online listings and ads, it is far more effective for renters to, firstly, understand their “must haves” or non-negotiables in place. Such as: · Knowing the locality, and Whitefield specific rental rates · Fixing their rental budget and type of homes they want - 1/2/BHK or Studio type · Deciding on a fully furnished flat or semi-furnished? Do they prefer homes that comes with in-built facilities or the routine? · Are they particular about developer brands or private owned building? Or if they are they looking for managed apartments or standard properties? The current go-to rental options would be in the categories of Co-living, Luxury Paying Guest, Accommodation, Managed Apartments or the standard to-let properties available for rent. The latest rental model picking up pace and expected to be the new go-to for modern renters is the Build-to-Rent (BTR) model wherein properties are built or acquired from scratch to capitalize on a higher property-tenant fit, meaning properties are built or designed to include furnishing, services and amenities to make it ready-to-move in for the renter. BTR models are meant to be more privatized, flexible and organized for renters without losing out on managed services and amenities. Kots Housing Pvt. Ltd. is one the first leasing companies to bring in the BTR model, actively operating in the IT Hubs of Bangalore, focusing on the white collared millennials as their target group. Another way to look for houses, of course, could be through friends/colleagues/relatives who live in Bangalore, get cues on which websites, sub-locality or spots to consider in Whitefield.
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renukaprasad

CAN CO-LIVING REPLACE A HOME FOR INDIAN MILLENNIALS?

WHAT IS CO-LIVING OR COMMUNITY LIVING? Co-living, originally known as co-housing, as a concept emerged in the 1970s in Denmark, with the intention of accommodating several families in private, compact homes while sharing community-dedicated spaces for socialising and communal gatherings. Today, Co-living is a type of modernised housing whereby young adults share a room with like-minded individuals, sharing rent costs and other benefits. These co-living spaces are located in plush and well-connected localities that provide their renters with an urban lifestyle. It is built with up-market amenities dedicated to a superior community experience for its residents, who are mainly young professionals. The popularity of co-living is factored into its provision of intentional community living, i.e., an extensive community culture at its core, including activities, meal time in common areas, shared workspaces or collective endeavours that instil a sense of belonging amongst its residents. Co-living as a concept is a housing alternative for older students, digital or remote workers or young professionals. The accommodation style in co-living is small studio apartments with compact or essential personal utilities, a shared kitchen and community space. The idea is to encourage its residents to spend less time inside their rooms and more in communal spaces, engaging with other residents and actively partaking in the community culture. For a young professional or student, what primarily appeals to a co-live are: Comfort. The mindset at this life stage is the need for a comfortable and functional space and open to sharing the area and utilities to be economical, making it feasible yet comfortable. Convenience. Just out of college, still in college or at a new job, plus with new-found liberty and an engaging community life, the younger folks may get disorganised, hence find it a boon to be able to avail laundry and meal services in-house. Co-living spaces have services and amenities that is inclusive of furniture, or other pay-as-you-use services, food, and more, making it convenient and hassle-free for the renter. Community, a sense of belonging. Independent/traditional renting can become lonesome and desolate at times. Still, with co-living, the company always provides a sense of belonging and community activities to indulge in often. A communal circle gives one a sense of inclusion, sociability and homeliness.
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