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Why the 'guest room' concept is catching up in India

By Finserv MARKETS - Aug 23,2019
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Why the 'guest room' concept is catching up in India

The middle-class income is growing steadily in India, leading to an increase in disposable income. With the hospitality and tourism sector is witnessing a growth too, accounting for 7.5% of the country’s GDP. According to a KPMG report, the hospitality sector in India is expected to grow at 16.1% to reach Rs 2,769 crores in 2022.

People have also been using the home loan calculator and opting for a home loan options on Finserv MARKETS as it gives them the best home loan rates to buy a home that can fulfill the need of having a guest house. To understand the concept of guest rooms better, let us look at some of the reasons why the idea of a guest room is trending in India.

Infrastructure development

The advancement of infrastructure is the spine and key to the development of accommodation options across India. Furthermore, the hospitality sector has been aiming to achieve an industry status for a long time now, considering how the internet and technology have opened up new doors to travelling and seeing the world. Giving industry status to the hospitality segment will go far in pulling in investment and improvement of the division. With India anticipated to be the quickest developing country in the travel industry, it is evident that the infrastructure will be designed to meet such needs.

The profit aspect

With so many tourists flowing in every year, the way hospitality is looked at has also changed. Several companies are targeting home-like features in accommodation. People who have an extra guest room in their house can now rent it out to people online through several accommodations and hospitality platforms. This has gained much popularity in places where tourists come regularly — cities, beach side, towns, hill resorts, and more.

 

Why the 'guest room' concept is catching up in India
 

Signing up is easy. Once the house is qualified to become a guest home, house owners can begin accepting guests in exchange for money. Besides, people are using popular investment options such as a home loan on Finserv MARKETS to get the best home loan rates and achieve their housing dreams.

A new kitchen plan

Open kitchens are slowly gaining popularity among individuals who love to cook as well as entertain themselves. Taking away the kitchen wall opens up the house and saves space while making entertainment connected by merging the kitchen with the living room. Besides, with an open kitchen, you have no option but to keep them clean, as it complements the rest of the house.

People who have been saving space by eliminating the kitchen look forward to investing and making a guest room comfortable space so that the next time they have a visitor in the house, it becomes easier to entertain them. With an added guest room, there’s even more room to welcome everyone, and perhaps make some money on the side by including a guest or two.

Cheap housing loans

Another reason why people are building homes that have guest spaces is that home loans have gained popularity. Home loans on Finserv MARKETS come with features such as flexible payment tenure of up to 300 months. It also comes with the option of loan top-up, balance transfer, and best home loan rates.

With a useful home loan calculator, you have the option to calculate the amount which you will be paying as EMI, including the interest. Besides, there are no hidden charges, no dubious policies, and 100% transparency. The whole process is hassle-free after you use the home loan calculator, all you have to do is apply online and get your application approved within three minutes, and get the money credited in your account within 24 hours.

Conclusion

So if you are looking for having an extra guest room in your house, and for that purpose, you are planning to purchase a new house, then you should go ahead with home loan options on Finserv MARKETS as they give you the best home loan rates.

Besides, if you are a first-time applicant, then you get the additional benefits of reduced EMI and interest rates — amounting to 6.93% — through the Pradhan Mantri Awas Yojana. With schemes designed just for you, getting a new house has never been more straightforward.

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522