BANGALORE: A gross shortage of single bedroom houses and studio apartments on rent in the city is leading many young professionals towards the option of living as paying guests (PG). The trend of PG has been common for the larger part of the last two decades, amongst students who migrate to the city to pursue higher education. However, with studio apartments and 1 bedroom hall kitchen (1 BHK) becoming very hard to find in priority areas, young professionals are seeking solace in PGs, that are priced reasonably low.Many IT professionals, advertisers, marketing employees who work around priority areas like Koramangala, Indiranagar, Sarjapur, Marathalli, Whitefield and Jayanagar are finding it hard to find a single bedroom on rent. “I joined my company in Marathalli five months ago, while my parents live in Kengeri. To avoid the daily travel, I have been looking for a single bedroom house for five months. But the only ones available here are priced above `15,000. Many of my colleagues, who have been living in a PG told me they didn’t find anything affordable either,”said Sharath Kumar, a software engineer.Further, many young professionals from the advertising industry too have similar views. “I’ve been living in a 1 BHK in Indiranagar for the last three years for `7,000. My cousin just moved in to Bangalore and started looking out in the same area. Everything that is available is either priced above `13,000 or is a small room in the interiors of the area, near open construction sites. He will now be moving into a PG next week,” said Reshma Jain, an advertising trainee.Brokers and realtors claim that the shortage is a result of the cost escalation and low returns. “Studio apartments and 1 BHK houses became a rage in Bangalore in the late 2008. It was the best option to beat the so-called recession, not only for a builder but also for people. The trend of a house anywhere between 500 to 800 square feet, priced below `15 lakh became a hit. But today, the returns are low, costs are rising and builders are looking at other alluring plans,” said Kripal Hajmani, a real estate expert from the city.However, the flip side of the latest trend is that paying guest options are increasing in many areas and at unbelievable prices. “A paying guest room would be available anywhere between Rs 1,500 and Rs 9,000 in East, West and South Bangalore. North Bangalore still needs to catch up with that trend,” said Rasheed P, a licensed broker from Banashankari.Meanwhile, young professionals who have been forced into the trend are making peace with it, claiming that it provides them the basic needs like food and shelter. “For everything else, the city has enough and more options. Besides, this way I can save up for a few years and then look at buying a house for myself,” opined Madhu, a software engineer.
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