- People eye rental income
The real estate sector is also helping the land lords earn sizeable income from the property by way of renting it out. The number of persons who are looking for the rental income is on the rise. They prefer to own the second house. This pattern is observed in the Garden City of Bangalore where the house rents go through the roof. However, it also spread to Hyderabad.
Those who have already owned a house are searching for the second house to earn rental income. As some areas hold the promise of good rental income, the land lords prefer to buy a second home and give it on rent. Since there is a possibility of earning EMIs through rents, many persons are putting their best foot in this direction. There is huge demand for houses in IT corridors. A 2 BHK house earns a monthly rent of Rs 40,000 in IT corridor whereas the rents in other areas are not greater than Rs 15,000-20,000.
In the past, there were instances of those who owned houses used to invest on sites. Now the trend has changed. They prefer to own a second house. Since long, people have been eyeing on rental income. They used to construct two or three stories on their house for letting them out. Now, the people prefer to own a second house with an eye on rental income.
