Property rental business is much more voluminous than property purchase business. This is true especially in case of urban agglomerations which are centres of economic activity in the country. Cities like Bangalore have grown far beyond their original boundaries, inducting newer areas which are now being developed as demand for property increases.
Bangalore has been the hub of IT businesses and technology companies. It attracts talent from across the country and these professionals working in the city increase the demand for property rentals. However when a person decides to let a property out or a person planning to take a home on rent, one of the first things that they like to know about is the kind of rental prices that are prevalent in the city.
It is an important piece of information that sets a benchmark for price negotiations. However it is not easily available and hence becomes exclusive as well. However housing.com allows end users to assess a variety of rental trends using its DSL page.
DSL Page Highlights
Let us assume that an end user wants to learn about price trends for a house for rent in Bangalore. Housing.com offers its DSL page which allows this end user to explore the rental property market of Bangalore with ease. This page has been designed by the Data Science Lab of housing.com which is the backbone of all features and services offered on the website.
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The DSL page comprises of numerous map based feature results. Let us assume that an end user is looking for a home in a specific locality-say- Kormangala. On the DSL page, there is a map called the Price Heat Map. When the end user selects Bangalore as the city, a red and green map of Bangalore is shown here. The red areas in the map highlight the areas high in demand and the green areas show the ones which are low in demand. There is an option in this map to view the ‘Rent’ trends. After switching to the rent trends, the end user can move the mouse over different areas on the map. Keeping the mouse pointer still over a locality reveals its name and the prevailing rental costs in that locality. These costs can be cost per square feet or cost per room. Hence the end user can easily learn about the prevailing rental price of any type of house for rent in Kormangala.
Similarly, there is another map called Inventory Demand Supply map. This amp shows the demand of localities in Bangalore in different colours. Here too, the available inventory for rental can be viewed by selecting the ‘Rent’ option. As before, the end user can hold the mouse pointer still over a locality to find out about the available properties for rental in the area. These include both independent homes and rental flats in Kormangla, if that locality is being searched. The corresponding demand is also exhibited in the same popup which reveals the accommodation availability.
Additionally, every rental apartment also comes with its own rating called Lifestyle Index. This rating allows end users to assess a property according to available amenities in the society, locality and commuting services. It helps in finalizing a rental property online.
The DSL map allows end users to study rental trends of properties available in all the metropolitans including Bangalore. This information is up to date and revised every twenty four hours.