The second wave of this pandemic has seen people travel back to the city, and many people who work and live here go back to their home state or village. The work from home has made it easier for people from other cities to live in their city and work remotely. This has been a blow for flat owners, Hostel and PG owners as well.
The owners of various apartments and flats across the twins cities are landing into a financial crunch as the occupancy rate at their vacant houses or hostels have taken a big dip. The lockdowns and multiple restrictions and also people working from home have had no takers for rented flats or paying guests apartments or any accommodation. The IT companies were set to return to office spaces thinking of the situation to be under control which went the opposite way, with the second wave hitting harder than 2020.
The current scenario is quite sure of seeing another year of Work from Home as the government has to sort out many guidelines along with the private sectors before they can have office spaces fully ready for thousand's of employees working together. The flat rents have been set at throwaway rates so that there is some occupancy for the time being, as some of the flat owner's income is primarily based on the rents and leases. The flat owners are letting go of their terms and conditions. They used to accept or decline potential tenants and allow anyone willing to rent irrespective of anything.