Demand for PG accommodations, hostels surge in Hyderabad
Hyderabad’s thriving IT and business sectors continue to attract a steady stream of professionals seeking lucrative job opportunities which further fuels the demand for affordable and convenient PG accommodations
Hyderabad: With Hyderabad becoming a hub for young tech professionals, students, and entrance exam contenders, the demand for Paying Guest (PG) accommodations and hostels has surged. This influx of seekers has not only reshaped the living options, but has also set the stage for a significant uptick in PG rates across Hyderabad.
The city’s thriving IT and business sectors continue to attract a steady stream of professionals seeking lucrative job opportunities which further fuels the demand for affordable and convenient PG accommodations in the IT areas like Gachibowli, Madhapur, and Hitec City.
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Laxmi Srinivas, an analyst from Mumbai said that the rent of her PG in Madhapur has increased due to the demand over the year. “The rent of a double-sharing room cost me about Rs.13,000 last year, but this year it has been increased to Rs.15,000,” she said. As the city emerged as a prominent education hub, housing numerous universities, engineering colleges, and professional institutes, students from various parts of the country have also created a substantial demand for PG accommodations close to these educational institutions.
Meanwhile, the PGs in areas like Ameerpet, Somajiguda, Masab Tank, and others have also seen a rise in the rates. “The rent for the triple sharing room I stay in used to be Rs.10,000 and this year, it has gone up by almost 25- 30 per cent and those seeking air conditioned single room will have to pay double the amount of the sharing ones,” said Shreyansh, a student from Bihar. PGs have emerged as a popular housing option for entrance exam contenders too, as they not only provide a cost-effective alternative to renting an entire apartment, but also foster a sense of community among residents. “There is a huge demand for paying guest accommodations in the city with many IT professionals or those seeking job opportunities, and students,” said Ranjoth Singh, owner of a PG in Kondapur.
The rent usually depends on the type of PG that one is looking for. “A triple sharing room would cost somewhere around Rs.13,000, while a twin sharing room would be about Rs.18,000 and a single room with AC would go up to Rs.30,000, ” he added.
Proximity to IT companies, tech parks, and educational institutions makes PG accommodations in high demand, allowing owners to charge a premium. Accommodations that provide additional amenities such as Wi-Fi, cleaning services, and security often command higher rates.
