The entire nation is going through some major lifestyle changes, and this started when the COVID-19 virus was first found in the country.
Organizations had to revert to the working from home policy in order to maintain social distancing norms.
Data by NoBroker, a brokerage free online property platform, has shown that young professionals have shifted from metro cities to either hometowns, or city suburbs.
Work From Home Policy Triggers Reverse Migration
Many millenials are not required to work from their offices anymore, and they have started renting homes in the suburbs, where it is more greener and spacious and is also quite affordable than living in the city. Whereas, many professionals are moving to their hometowns thus saving their rents and also spend time with their families.
Data by NoBroker states that during the second wave, which impacted the movement of the millennials severely, a huge chunk of millennials chose to shift their residence to more affordable places and spacious locations.
As per NoBroker CEO Amit Agarwal, “We observed that in early-2021, the movement from metro to non-metro was one-third. But in June, around two-thirds of intercity movement is towards non-metros coinciding with people shifting to their hometowns.”
Major Movements Observed From Mumbai, Delhi, and Bengaluru
He explained that generally, the tenant movement is of two types – intercity and intracity.
There also are two types of tenants, one type contains the people who decide to stay put at one location and the second type is the one which decides to move back home.
He confirmed that a considerable number of employees who were allowed to work from home have moved back to be with their families and also to save on rent. Also, these professionals made up for a majority of tenants that are moving back to non-metros.
The customer base of NoBroker is 1.25 crore, spanned across Bengaluru, Mumbai, Chennai, Hyderabad, Pune and Delhi-NCR.
As per reports, around 20% of the overall tenants were choosing to move to the suburbs in early 2021, but things have changed in the last 30-45 days. Apparently, major movements have been to Nagpur and Jaipur from Mumbai, and to Meerut and Lucknow from Delhi.
Whereas, tenants from Hyderabad and Chennai moved towards Pondicherry, Coimbatore and Madurai. Also, major movement has been seen from Bengaluru to Patna and Mysore, of which, around 70% has been from the IT-ITeS sector millennial employees.
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