Co-living has been accepted as a viable and rewarding solution to the increasing prices of real estate and the modern lifestyle in India. Co-living is already a boost to the Mohali real estate growth. A recent report by Colliers India says—
A typical co-living product usually focuses on providing a set of amenities relevant to a specific occupier set. Therefore, with increasing understanding of the local dynamics and requirements, some of the differentiators that are expected to be witnessed in the co-living space in coming years can be subscription model, ready to move in, and community-driven living experience.”Source: Colliers India
For residential real estate owners and investors, this is a new territory and so they are in the experimentation mode—for pricing business model, architecture and design, and for their branding and sales strategy.
The growing millennial population in India who have relatively higher disposable incomes, and who prefer a community-driven high-end living based lifestyle are the key drivers for co-living real estate demand. The Colliers report shows how organized co-living sector is a massive business opportunity for Indian real estate.