The Co-living spaces In India offer flexibility, affordability, and complete autonomy to the individuals. Co-living offers a lower cost of living due to the shared amenities, utilities, and other common residential features. The Future of Co-living spaces in India is positive as the young population is becoming more inclined toward cost-effective and community living options. This article gives you a complete overview of the current situation and future of Co-living spaces in India.
Page Contents [hide]
- What Are Co-Living Spaces?
- Co-Living Facilities & Features
- Co-Living Spaces Vs Renting Spaces
- Co-Living Demand In India
- Co-Living Spaces Benefits
- Co-Living Spaces in Mumbai
- Co-Living Spaces in Delhi-NCR
- Co-Living Spaces in Bangalore
- Co-Living Spaces in Chennai
- Co-Living Spaces in Hyderabad
- Co-Living Spaces In Pune
- Major Co-Living Space Operators In India
- FAQs
What Are Co-Living Spaces?
The co-living spaces are becoming popular in India for their cost-effectiveness, flexibility, and lesser liabilities.
Mainly, The co-living spaces have shared common areas with private bedrooms.
The Co-living spaces also incorporate the elements such as a well-designed community area, common kitchens, terrace gardens, libraries, gyms, cafes, etc.
Since the co-living allows sharing the of common features and amenities among a group of people. This makes Co-living considerably affordable as compared to renting and buying a new house.
Co-living is popular among millennials who have to change their cities.
The Co-living market in India is growing exponentially. In 2019, the Co-living market size was USD 5.13 bn which will reach USD 10.8 bn by 2025.
Co-Living Facilities & Features
The Co-living space facilities can be divided into Standard Facilities, Premium Facilities, and Value Added Facilities.
Standard Facilities
- Fully furnished Room
- House Keeping
- High-speed internet
- All-inclusive utility charges
- 24/7 Security (CCTV, guard)
- App-based service delivery or communication
- Community Events
Premium Facilities
- All Meal
- Common Kitchen & Dining
- Laundry
- Parking
- Gaming Room
- AV room/Music Room
- Gym
Value Added Facilities
- Canteen/café
- Library or books on rental
- Terrace Garden or deck
Co-Living Spaces Vs Renting Spaces
Co-living & Renting Spaces both offer flexibility and lower financial liabilities. However, the Co-living has emerged as more affordable and convenient that the Renting spaces.
Here is how-
| Co-Living Spaces | Renting Spaces | |
| Deposits | Average 2-3 Months Rate | Average 6-10 Months Rent |
| Tenure | Flexible, 3 Mon Lock-in | 11 Month Lock-In |
| Flexibility | No Notice Period | At least 1 Month Notice Period |
| Common Area Maintenance | Included In Rent | Not Included In Rent |
| Utility Charges | Included In Rent | Not Included In Rent |
| Technology | Advanced Technolgy Interface | No Technology Interface |
| Amenities | Modern Amenities with Shared Costing | Amenities with Additional Costing. |
Co-Living Demand In India
The demand for co-living In India is on the rise.
This is primarily because of the benefits and an evolved lifestyle it offers.
Within India, the co-living model is currently catering to mostly millennials. The students and working professionals are the key drives of the Co-Living market in India.
The lower costs of living, advanced technology interface, and greater freedom appeal to the millennial generation.
The age category of 20-39 years has the maximum share in Co-living space consumption.
The future demand projection for Co-Living In India is also positive.
The sustainable co-living business ecosystem with higher demand will provide impressive growth in the co-living sector.
Here are the co-living space demand projections in India
Co-Living Spaces Benefits
The co-living has getting increased popularity for its key benefits that are addressing the major challenges.
Here are the coliving space benefits that make it the best and most popular option for living.
Lower Costs–
Affordability is the core of the co-living space market.
In a co-living space, the majority of the costs including the utility bills, maintenance, and amenities charges are shared and therefore do not over-burden the individual.
Also, there are no costs involved in the entry and exit of the co-living spaces.
Moreover, the lower security deposits, lower rents, and shared costs of the amenities give greater affordability.
Here is how you can save the costs on Co-living-
- Rents are Considerably Lower
- Lower Security Deposits (Min 3 Months)
- Shared Electricity, Gass, and Water Bills
- Modern Amenities Such as Wifi, Gymnasium, Swimming Pool, Leisure Spaces at Shared Pricing.
- No Maintenance Costs
- No Entry and Exit Costs
- No Costs for Legal Registrations
Greatest Flexibility-
There are no fixed lease tenures in the case of Co-living.
Also, there are no entry and exit conditions imposed in the co-living.
In co-living, the person may not have to serve the notice period.
This allows greater flexibility to the millennials who keep changing the cities.
Community Living-
The social engagements and activities in the co-living offer quality time.
The operators help the occupants to get inmates of similar interests. IT ensures collaboration and a better living environment.
Advance Technology Interface-
The co-living spaces operator has been incorporating advanced technology interfaces that add comfort and convenience.
Also, the operators are seeking a way to provide Advanced Technology Interfaces for maximum comfort.
Modern Amenities-
The co-living spaces provide excellent modern amenities that include the wifi setup, gymnasium, swimming pool, indoor games room, etc.
Also, the modern amenities provided in co-living come at much lower costs. As the total applicable cost is shared among the group of people living together.
Co-Living Spaces in Mumbai
Mumbai has low penetration of the Co-living spaces due to the higher property prices.
However, the leading Co-living operators have shown an active interest in building co-living spaces in Mumbai.
The co-living micro-market is likely to thrive in Mumbai.
Major Operators in Mumbai– Zolo Stays, NestAway, YourSpace
Co-Living Spaces in Delhi-NCR
Co-living is prominent in the Gurgram region due to the presence of employment hubs in the vicinity.
Co-living is a good option in Delhi- NCR because the cost of a private room in the co-living is lower than n the rented apartments.
The Co-living ios affordable in Delhi, Sushant Lok-Gurugram, and Sector 61-Noida
Major Operators In Delhi-NCR– Zolo Stays, NestAway, CoHo, ZiyHomes, Oyo Life
Co-Living Spaces in Bangalore
The Co-living spaces in Bangalore are mainly in the localities such as Outer Ring Road, Whitefield, and Electronic City.
The co-living spaces in Bangalore cater to working professionals and students.
Major Operators in Bangalore- Colive, Zolo Stays, NestAway, CoHo, StayAbode
Co-Living Spaces in Chennai
Chennai has comparatively lower growth in the Co-living sector.
However, with the presence of leading employment hubs, the popularity of co-living spaces will increase in Chennai.
In Chennai, the Cost of co-living is more affordable than private co-living accommodation.
Major Operators In Chennai: Zolo Stays, NestAway and Colive
Co-Living Spaces in Hyderabad
Hyadebard has a strong co-living market due to the presence of the leading operators.
Also, the higher number of working professionals spur the maximum demand for the co-living spaces in Hyderabad.
The Co-living spaces in Hyderabad have overall low costs along with the major tech hubs.
Major Operators In Hyderabad: Living Quarter, Zolo Stays, NestAway, Aarusha Homes, Flathood, Boston Living
Co-Living Spaces In Pune
A large number of working professionals has been the prime reason for the thriving co-living market in Pune.
The average cost of living in private or shared co-living spaces in Pune is significantly lower.
The presence of a sizeable student population has increased the demand for shared rooms and co-living spaces.
Major Operators In Pune: Zolo Stays, NestAway, YourSpace, Flo Colive
Major Co-Living Space Operators In India
Here is the list of Major Co-living space Operators in India
| Cities | Rate
(INR/person/month) |
|
| ZoloStays | Delhi NCR, Pune, Kota, Mumbai, Bengaluru, Hyderabad, Coimbatore, Chennai | 5,000 – 16,000 |
| Nestaway | Bengaluru, Mumbai, Delhi NCR,
Thane, Navi Mumbai, Pune, Hyderabad, Mysore, Kota, Bhubaneswar, Visakhapatnam, Coimbatore, Kolkata, Chennai |
8,000 – 24,000 |
| OYO Life | Delhi NCR, Bengaluru, Pune, Mumbai, Hyderabad, Chennai, Kolkata, Jaipur, Coimbatore, Mysore | 6,000 – 18,000 |
| CoLive | Bengaluru, Chennai, Hyderabad | 5,000 – 30,000 |
| Housr | Delhi NCR, Mumbai, Kota | 10,000 – 25,000 |
| CoHo | Delhi NCR, Bengaluru | 9,000 – 25,000 |
| Grexter | Bengaluru | 6,000 – 24,000 |
| FF21 | Bengaluru | 9,000 – 21,000 |
| YourOwnRoom | Bengaluru, Pune | 6,500 – 20,000 |
| Ziy Homes | Delhi NCR | 10,000 – 30,000 |
| SquarePlums | Bengaluru | 4,000 – 20,000 |
| StayAbode | Bengaluru | 3,500 – 27,000 |
FAQs
| What is a Co-living Space?
Ans: An accommodation where people will share rooms and areas with other like-minded people. People can choose to stay near to their office or educational institution to eliminate the traffic woes and save a lot of money. |
| Is Co-living the future?
Ans: Yes, co-living spaces are the future as it accommodates a holistic approach to their business idea along with the social value. |
| What are some good Co-living spaces available in India?
Ans: Some of the good coliving spaces available in India are the following:
|
| What is the Co-living Industry?
Ans: Indians have accepted the Coliving spaces as one of the real estate segments. With the best business strategies, they understood the human understanding among Indian people and successfully attracted their clients. |
| Is Co-living for couples?
Ans: Yes, co-living spaces are designed to solve the issue of house hunting life in couples. |
