Homeworking Pushes IT Professionals to Reverse Migration to Non-Metropolitan Suburbs
The changing lifestyles of working from home (WFH) have led young professionals to rent housing in more spacious and greener suburbs but which do not burn a hole in the pocket. With most offices still closed, many millennials also move to their hometowns, saving rent and spending more time with their families.
Data from NoBroker, a free online real estate brokerage platform, suggests that as the second, most virulent wave of infections negatively impacted movement, many Millennial office workers chose to move to more affordable and spacious places, whether they are cities or non-metropolitan towns. suburbs.
The platform has a cumulative customer base of 1.25 crore in Bengaluru, Mumbai, Chennai, Hyderabad, Pune and Delhi-NCR. NoBroker CEO Amit Agarwal explains that tenant movement is generally of two types: interurban and intra-urban.
“What we check is that when tenants move, do they go from metro to metro or from metro to non-metro. We observed that at the start of 2021, the movement from metro to non-metro was a third. But in June, about two-thirds of intercity trips are to non-metros coinciding with people moving to their hometown, ”he added.
There are two types of tenants, one who decides to stay put and the second is the one who decides to return home, Agarwal said.
A significant number of IT-ITeS professionals work from home and the majority of offices are closed.
They returned to live with families and also saved on rent. These professionals make up the majority of tenants who return to non-subways, he said.
In the intra-urban category, around 20% of all renters opted for the suburbs at the start of 2021, but in the last 30 to 45 days, around 40% of intra-urban trips are to the outskirts. “People are looking for more living space, better amenities, fewer crowds and cheaper rents, all of which are available on the outskirts. This is important in Bengaluru, Delhi and Hyderabad. People predict that Covid will continue for some time and many are changing their lifestyle choices. In addition, millennial families living on rent also faced space constraints. In many cases, the parents also live with the couple, ”he added.
Stressing that distance is a major determining factor when it comes to the choice of resettlement, Agarwal said that the main movements from Mumbai have been to Nagpur and Jaipur while from Delhi the chosen places are Meerut and Lucknow. Tenants from Hyderabad and Chennai moved to Pondicherry, Coimbatore and Madurai.
The maximum movement from Bengaluru has been to Patna and Mysore. About 70% of this movement involved millennial employees in the IT-ITeS sector.
Another bright spot for tenants is that rents have not firmed as many have returned to their hometowns or moved to cheaper locations in the suburbs, creating a vacancy. In addition, the lack of activity also pinches homeowners. Opposition to singles has diminished in many cases. Now they offer painting, cleaning, pest control and disinfection of the house before a tenant moves in.