Hyderabad: Co-living, a model wherein people with similar interests and values share housing, is becoming popular in Hyderabad, especially after IT companies put an end to work from home model.
Techies working in Hitec city, Gachibowli, and Madhapur are preferring co-living spaces over PGs, hotels and rented houses due to various reasons including proximity to commercial places.
Cost of co-living spaces in Hyderabad
Seeing the demand for co-living spaces, many agencies are offering semi-furnished or fully-furnished spaces at Rs. 8-15 thousand per month per person.
As co-living spaces are located in areas that are well connected with good transportation systems, working professionals have occupied around 90 percent of them.
Rental market also booms in Hyderabad
As techies who had gone to their native places after the outbreak of COVID and were working remotely have returned to Hyderabad, the rental market also booms in the city. As the techies prefer to reside near IT/ITES hubs of the Financial District, most of them prefer to stay in the west and north Hyderabad.
Though co-living spaces are in trend in Hyderabad, many people are also looking for the conventional options of rented rooms, PGs, or hostels.
Because of the demands, 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.
IT companies follow hybrid model
Most firms including IT companies have shifted from work from home model to a hybrid model wherein employees are asked to work from the office 2-3 days a week.
Though, after the outbreak of COVID-19, many companies thought that work from home will be a better option and they wanted to continue with it even after the end of the pandemic as the model helps them in cutting various costs.
However, later most of them decided to reap the benefits of work from home model without compromising on the performance of the employees.
The hybrid model not only ensures the performance of the employees but also makes work from home model’s benefits available to the companies.
