Co-living- The new wave in the Real Estate Sector in India
The new generation or the millennials as they are popularly known as has brought in a lot of changes in the way the country works. And now they are all set to bring in a change in the way they live.
The concept of ‘co-living’ is the new buzz around the corner where the young professionals living in metropolitan cities prefer to stay with professionally and culturally like-minded people.
This ‘home away from home’ concept is a form of housing where the residents not only share the living space but also happen to share their interests, values, along with kitchens, recreational rooms and a lot more.
Co-living spaces are residential spaces that are fully-furnished rooms with free amenities like electricity, Wi-Fi, TV, water, security, housekeeping, etc. These spaces also includewell-equipped kitchen and washing areas, lounge, reading areas, gaming zones along with food that is provided on a subscription basis. Rents for these co-living spaces range from Rs. 7,000 per head to Rs. 20,000 respectively.
Co-living is also catching the attention of the property builders in Bangalore who are now focusing on shared living spaces in order to increase their rental income.
India is seeing huge growth in the co-living market from the last few years. This growth has given birth to a lot of startups who are venturing into the business of co-living. The co-living market in India has seen a 100% growth compared to the last financial year.
According to the industry reports, the co-living space market has a vast scope in India and will boom like never before in the years to come.
This approach is an evolution of rental housing solutions and has become very famous among the young and unmarried professionals who have moved to cities like Bangalore, Mumbai, Pune, and Delhi.
These spaces not only ensure interactions among people but also takes care of the privacy of its residents. A classy lifestyle with comfortable homes.