Co-living is the Latest Trend in Urban India

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Co-living is the Latest Trend in Urban
India November 9, 2017 Real Estate
Co-living Trend in Urban India, Latest Trend in
Urban India, What is co-living m Srishti Chandola
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The newest entrant in the real estate landscape.
The concept of co-living is actually catching up
rapidly in the Indian metro cities. Gurgaon and
Bangalore have taken lead in this upcoming
concept with over six operators and 500
properties. What is co-living? It is also
referred to as the shared living. Co-living may
actually bring to mind the crude dorms which are
meant for adults. That would, however, be an
erroneous assumption. The co-living units can be
defined as the furnished homes that are shared by
like-minded tenants. This concept proffers an
exciting option to home seekers that focuses on
using the shared amenities and spaces that build
the sense of community that revered amongst the
millennials. Supporters of this trend over the
co-living proffer more fulfilling lifestyle by
addressing the requirement for social connections
as well as removing hassles which involve
traditional renting. Experts differentiate
co-living from the hostels as latter are much
more functional in nature with some bare-bone
values. Co-living has a community-centric
approach with prime focus going beyond basic
amenities to the engagement tools as well as the
experiential living. Quality of life is enhanced
at a much superior level in co-living units as
against the basic hostels and paying guest
spaces. The co-living arrangements in India
proffer home quality with all required services
and amenities which includes furniture,
furnishings, laundry, appliances, and
housekeeping and may have add-ons like art or
music rooms, barbeque grills, etc. Rates
generally begin from Rs 8,000 and may go up to Rs
30,000 which depends on the degree of luxury and
amenities offered. Advantages of co-living The
concept proffers various advantages over
traditional rental units All utilities and
services are taken care of by operators
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Freedom from stress of finding roommates
Brokerage-free dealings Minimum moving
costs as co-living units which are
fully-furnished No landlord Opportunity
to learn from communal experiences
Networking advantage For numerous generations
that favor the flexibility offered by what
actually does 2017 hold for the co-working spaces
in India? Co-living, co-working spaces are the
next logical step. Perfect for single and young
professionals, modern migrants who dont want the
stress involved in the ownership of the home,
this niche segment is observing growing
enquires. The industry experts portend that the
co-living has potential to come up as a lucrative
distinct category of real estate, over and above
the commercial, residential, hostel, retail and
office segments. Also, the category will displace
minimum of 20 of demand for the service and
residential apartments segment. The real estate
landscape will see the custom-made inventory
aimed at the meeting the organic demand of the
co-living market, from the 8 prime cities in
India. Awareness of any fresh concept, however,
amongst target groups is always challenging which
basically applies to co-living as the industry as
well. Concept communication of holistic living
focused on superior experience with a shoved
price that takes time as well as effort till the
real estate industry takes secure shape in the
society. Also, on the ground execution on the
operational front in a comparatively
unprofessional work environment in the country is
certainly an added challenge. Regardless of the
hurdles, this segment will grow further in back
of booming mobile workforce.
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