A recent study conducted by Colliers India reflects that the student housing sector is emerging to be a sought-after asset class, given the rising demand for quality student accommodation. Up until recently, the sector was unorganized and unregulated even though thousands of students migrate to the metro cities each year to pursue higher education. The poor conditions of campus hostels and PG homes along with scaling rentals gave birth to the need for quality student housing across the country, especially in education hubs that have a high footfall of students each year.

The student relocation within the country currently stands at ~11 million and is expected to touch 31 million by 2036. Further, there are only 7.5 million student beds at on-campus accommodations pan-India, not enough to serve the current demand and far from being able to meet the projected future demand. There is immense potential for growth given this high demand-supply gap in the sector.

“There will be immense requirements for shared student accommodation in the coming years due to new education policies by the Government, innovative technologies, and the in-migration of students to pursue higher education. A shared space with excellent amenities, same age-group community, convenience in commute, and assistance in day-to-day activities – are the requirements of our young generation. Pre-pandemic, many start-ups ventured into the purpose-built student accommodation sector, and very few have survived to become seasoned players with large portfolios across the country,” says Swapnil Anil, Executive Director & Head, Advisory Services at Colliers India.

At present, there are a few players in the sector who have a growing presence in the country. Stanza Living currently has 70,000 beds across Dehradun, Vadodara, Indore, Coimbatore, Jaipur, Kota, Ahmedabad, Manipal, Kochi, Vadodara, Vidyanagar, and Nagpur. Housr Co-Living has a presence in Gurgaon, Hyderabad, Pune, Bangalore and Vishakhapatnam, with plans to expand in Delhi and Kota by the end of the financial year. Another leading operator, Your Space, has 5,500 beds across Delhi, Mumbai and Pune and aims at having a total of 20,000 beds by 2024 in prominent education hubs like Jaipur, Bengaluru, Hyderabad, Chennai, Kota, and Kolkata. Finally, Olive Living, managed by Embassy Group, has a stock of 2,500 beds and looks at adding another 20,000 over the next few years.

Post-pandemic, student housing rentals have been steadily rising by 10-15% YoY, reaffirming the scaling demand for quality student homes. With student enrollment in higher education projected to cross 92 million by 2036, there is untapped opportunities for investors and developers and tremendous scope for the sector’s growth. It is likely that the market will see the emergence of new players and perhaps even global investors in the Purpose Built Student Accommodation (PBSA) market.

Also Read: Future Trends in Student Housing

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By Varun Singh

Hard to believe, but August 2021, sold more homes than August 2019, when the world was not suffering from any COVID-19 like pandemic.

However, August 2021, sold lesser homes when compared to July 2021 in city of Mumbai.

In August 2019, a total number of 5873 sales was registered with the Inspector General for Registration and Stamps.

The number was 2642 sales in August 2020, whereas it was 6862 sales in August 2018.

In July 2021 the home sales in Mumbai stood at 9823.

Finally in August 2021 the sales of home in Mumbai city stood at 6784.

According to Anand Gupta of Builders Association of India, “Actually in 2019 August it was 5900 and that time also industry was passing through bad phase because of side effects of Demonetization, GST , RERA etc. Still increase of 13% as compared to 2019 is very Good sign. it means after unlocking ,economy has come back to track and it will improve further.”

Ashok Mohanani, President, NAREDCO Maharashtra, said, “The real estate market has witnessed major bumps and has recovered majestically in the last few quarters. Largely, home-buying spree has massively been affected post COVID, where people have become more stagnant on buying permanent homes rather living on rent.”

Mohanani further added, “Purchasing your own home has consistently been a major part of our Indian ethos. Today, the ‘Mumbaikar’ who has gone to the city in a quest for his/her profession are looking for permanent homes with prolonged rationality and financing costs drifting around 6.5% for a home loan.”

The state head of the builder body says, several provisions have been provided by the government and developers during the unlocking phase of the economy that has made the current time, one of the best ideal opportunities to purchase a home in Mumbai. In 2019, homebuyers did not come across as many lucrative offers and deals as compared to now. Additionally, relatively low home loan rates, convenience in paying EMI and reduced stamp duty, is also encouraging the demand among consumers and fence-sitters.

He further said, “The prolonged moderateness combined with pandemic encouraged necessity for a permanent home, has fueled the home buying in Mumbai. The market has seen an additional interest of 10% over the past quarter for two and three BHK homes in the city.”

Also Read:Realty Sales in Mumbai, back to Pre-Pandemic days

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