Bangalore is also known as Silicon Valley Country, as the major IT companies here such as Wipro, Infosys and so on. There are good universities in Bangalore, students across the country come here for further education in engineering, medicine, fashion design, architecture, etc. Some come here to treat because there are very good world class hospitals like the famous Narayana Hrudayalaya hospital where people not only come from all over India, but also from abroad for treatment.
People who have to stay in Bangalore for shorter periods like students, people who come to treatment or young job seekers must live on charter. include flats, self-contained houses, bungalows, paying guest houses, apartments, rooms inside the house and time sharing property. Many companies provide accommodation to their staff.
Even banks have come up with an innovative scheme of lending to real estate owners who have leased their property for real estate, banks, insurance companies, PSUs, multinational companies, embassies, etc. The scheme provides loans against future claims for such owners.
With the rise in the number of people who moved to Bangalore in recent years, renting houses in Bangalore increased. Usually, owners who have more than one homeowner give their other homes rent to students, usually if they are near an apartment near one of the universities. Flats in Bangalore are more in the city compared to their peripheries. In a recent survey, demand for leased real estate was the highest in South Bangalore; Following is Bangalore east and north. Demand for renting real estate in the south of Bangalore is three times demand in central Bangalore and double demand in North Bangalore, but due to the current global recession there has been a house rental down by 1-10 percent.