Co-living culture gains ground in metro cities

October 9, 2019

To cater to the rising migrant population of students and working professionals, a new co-living culture is gaining ground in the metro cities. Start-ups like ZoloStays, Oyo Life, Nestaway, CoHo and Stanza Living are some of the options in this new segment of real estate. Every year, Delhi-NCR, which offers high-grade education and employment opportunities, attracts lakhs of people and yet high house rents have been a disappointing factor.

Sensing the city’s tremendous potential to become a dominant co-living hub, several start-ups have entered this space.

Santhosh Kumar, vice-chairman of Anarock property consultants, which is engaged in real estate research, told The Sunday Guardian: “Co-living, like carpooling and co-working, is the result of demand for more evolved rental housing solutions coming from millennial-like students and young working professionals whose choices differ vastly from those of previous generations. Currently, this new accommodation option is most popular among the youth and unmarried millennial aged between 20-30 years. In fact, professionals who don’t live with their families in the city of work are also considering this option.”

 

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