Hi Uma,
Welcome to Namma Bengalooru!

If you are looking for a rented house/apartment consider the following things:
1) Distance from your office
2) Connectivity to other parts of B'lore
3) Water availability
4) Schools nearby (if you have kids)
The best places suited for IT couple are BTM, HSR layout, Marathahalli, Koramangala,Adugodi,Bommanahalli,Madivala, J.P. Nagar 7th phase, bannerghatta road, places near ITPL etc.
Also, most of the companies provide company leased accomodations where the company itself provides you a home, gives the advance.No worries at all na... and it helps in tax savings also!
Good luck!