Cities like Pune which see a large number of student and working population, have to constantly come up with newer ideas to cater to their accommodation, dining and recreation needs. Many of these youngsters, after slogging for long hours in college or at the job, spend their evenings or weekends in their rooms, either because they are too tired to get out or because they hardly find like-minded people to unwind with. Coliving spaces, the latest trend in the Indian rental housing sector, is taking care of this situation.

To describe it in a nutshell, coliving is more than just sharing a room with flatmates in a hostel or an apartment. The space offers cosy rooms and community areas like a living room, dining room, game and entertainment space. The owners/people running these spaces even organise events and festivals for the residents. 

Anuj Puri, chairman, ANAROCK Property Consultants, says that coliving is still a niche segment in Indian rental housing, and its actual market size in India needs to be properly documented. “However, if we take some cues from the overall rental market readings, the market share of rental housing in India can be anywhere between 35-45 per cent of the total residential market. This share is increasing steadily, particularly in urban centres that comprise nearly 70 per cent of the total rental market.”

He adds that it is challenging to arrive at exact figures because the rental housing market is almost exclusively a private market of several small-scale providers who may not have been recorded. 

WHY ARE CO-LIVING SPACES GAINING POPULARITY?
So what is contributing to the growth of these spaces? Why are more players entering the market? 
Currently, the main players in this segment include — Flo, Bee Urban, Stanza Living, Housr, YooCo, ZoloStay, Oyo Living, NestAway, Grexter Living and so on. 

Anindya Dutta, co-founder, Stanza Living, says that on an average, eight million students migrating for higher education in India have to depend on off-campus housing facilities, creating a huge demand-supply gap in the sector. “Also, most student housing solutions are unorganised and suffer from infrastructure and service quality gaps. Professionally-managed, tech-enabled student housing companies like us, which ensure both the design and delivery of our offerings is centred around student needs, are appreciated by students and parents alike,” Dutta says.

Puri supports the statement by pointing out that co-working and car-pooling have become viable options for the millennial workforce. “The main concern of the burgeoning student and working population is finding the right accommodation. Coliving is an ideal solution. Conventional paying guest facilities and hostels are gradually giving way to this more sophisticated way of living in a less inhibited and restrictive environment with ample opportunities to mingle,” he says.

According to Puri, the current trends indicate that this new accommodation is more popular with the young and unmarried millennials aged between 20-30 years. “Professionals who don’t live with their families in the city of employment are also increasingly considering this option.” 

An official spokesperson of Flo adds that the myth about only millennials opting for such spaces was broken after they launched one and half years ago. “We have realised that people from all age groups and walks of life are exploring coliving,” adds the spokesperson. Flo is a venture by Panchshil Realty and currently has three coliving spaces.

No wonder then that coliving as concept is not only gaining momentum in major cities like Bengaluru, Mumbai, Gurgaon and Pune but is also gradually percolating to tier 2 cities like Jaipur and Lucknow.  

PUNE, A GROWING MARKET
The number of players in the coliving space sector in the city has grown in the last one and half years and many will be entering the market in the near future. Dutta says that Pune attracts a heavy migrant flow for better education and career opportunities and is one of the leading youth hubs today. 

Hrushikesh Shrotriya, who co-founded Bee Urban with Namit Agarwal, believes that for Pune, sky is the limit. “We are confident that we will go 10x minimum in the next one and half years,” says Shrotriya who currently co-runs 11 properties across the city. He adds that right now, they have 460 tenants staying with them and the total number of tenants with them so far has crossed 1,600.  

UNDERSTANDING THE NEEDS
For those shifting to Pune, there is no dearth of accommodation options. The city offers different styles, range and variety of rooms. But there is no denying that most of the tenants there are at the mercy of the landlords and real estate agents, who can sometimes make their experience of finding a flat or living in one, an unhappy one. Many apartments in the city do not allow bachelors, while many have strict rules like no parties, no girls or boys allowed, no noise etc etc, which the young tenants find hard to follow. Also they have to find maids, cooks, electricians, all on their own. 

Coliving spaces therefore become an ideal option because these companies have understood the needs of their tenants and modelled their properties accordingly. Moreover, each one of them has focused on the safety of the tenants. “Interpersonal communication with the hostel management is important as compared to interacting on the app,” believes Shrotriya. 

He continues, “There should be a property manager who understands the tenants’ problems and focusses on solving them. This adds a lot of value. Also, we are trying to add various other facilities as a differentiator, like career-oriented programme, getting two like-minded people together so that it helps them expand professionally and so on. If you are looking for a job or internship, the coliving community will help find it.”

Shrotriya adds that they have clubs like Bee Bookworm Club, which enables people to share their books, or LinkedIn CV making workshop. “The club also enables them to have an access to Bee Urban mentors, owners. In fact, we have helped a couple of them launch their own start-ups also,” he informs.

Flo’s official spokesperson says that they have focused on two major areas — close proximity to the residents’ office space and taking care of the hassles of a day-to-day life, along with other areas. “We have to give ease of location or distance to work,” she says and adds that the second-most important thing that they focus on is luxury and therefore the properties they have chosen are ultra-luxurious. “People always have a dream of staying in such properties. Here, even if tenants are sharing a room, each individual has their own space. Rented accommodation today is a compromise for the person but we are changing that. In addition to that, when shifting to a new flat, people have to take care of things like WiFi services, DTH services and so on but at coliving spaces, they do not have to worry because they are already provided that in the package. We also take care of the maintenance of the flats so that they do not have to run after the plumber or maid. They do not have to worry about the running the house. They just have to leave a message and we will take care of it.” 

To this Dutta adds that Stanza’s student housing model is ‘an end-to-end managed, hospitality-led offering that goes beyond just housing.’ “This means that when consumers move into our student housing set-up, they can be assured of a hassle-free daily living experience which includes a wide-range of amenities and services like food, WiFi, laundry, housekeeping etc. Further, consumers are assured of getting a transparent and market-competitive pricing option with no hidden overhead charges,” he says. 

THE COMMUNITY FEELING
While on one hand, we are expanding our horizons because of social media, travelling, work culture, on the other hand, more and more people have started to feel lonely. Many working professionals are clueless about what to do on their weekly offs. If they have plans, they may not get a friend or partner to accompany them. 

Understanding the growing need to socialise beyond their colleagues and college friends, these spaces organise musical nights, games nights, parties, and festivals at the hostel premises.  

Puri points out that it can safely be stated that the aversion to isolation and loneliness are driving the demand for coliving.

Shrotriya says that their focus is on giving a community feel where people can unwind at the end of the day. “They can play a game of chess or cards. They can have a musical session. They have a dedicated gaming zone. We organise events on a regular basis, both in a small and big way. We have a list of 24 festivals, which we celebrate every year. This helps them be connected with others in the housing,” he says, adding that they push many for meet ups to enhance their social networking skills. 

Flo’s official spokesperson adds that they do focus on community events because they want to bring people together and their aim is to provide a place to connect with each other. “People do not want to live alone. We try organising events every week depending on how many people are available. We also have introduction session of new tenants. We have inhouse movie nights, karaoke nights, we have also hosted stand-up comedians and poets to entertain the crowd. At the same time, we like to hold read-out sessions where they can read their own stuff and do not have the fear of being judged,” she says.
   
WHAT THE RESIDENTS FEEL
When students and working professionals are looking for accommodation, they have different requirements. For some, it’s the food that matters while for a few, close proximity to their place of work or educational institute is important. For some, security is the key word while some prefer to stay in a neat and clean environment. Since coliving spaces try to take care of all of these aspects, they are becoming an ideal choice for tenants.  

“You get to interact with different kinds of people, from different background and culture. You can get to know people from different parts of the country. It’s also pocket-friendly, considering the amenities provided,” says Ashish Khobragad, who lives five days a month in one of Bee Urban’s properties in Viman Nagar. 

Arghya Chakraborty, who co-owns Lets Be Canvas, has lived in a coliving space for six months. He says that the best part is that everyone is sharing all the amenities. “I don’t have to buy a bread basket; I can share with anyone who has bought it. Nothing really goes waste here. Every resource we get is shared,” he says. 

Chakraborty found his logo designer in the room next to his, while staying in this space. “When we were starting our company, we did not have anyone to design the logo but we found a logo designer in the next room and she was like, ‘Let me help you with this.’ Today, we are using the same logo. It’s always helpful to have resourceful people mixing together,” he says, adding, “In a college hostel, the students living together are from the same course or educational background. But here, we have an IT professional, designer, student, photographer all living together. When we interact, we exchange ideas and influx of work happens.”

Mahima Kapoor Srivastav, who is in the fourth year of Engineering has been in living in Stanza Living for the past six months. She says that security matters the most for parents. “Our parents’ utmost concern is whether we are safe or not. Here, the security is very strong. Also, if we have any issue, it’s resolved within 24 hours and we enjoy a lot of amenities at a minimal cost. The food is delivered everyday and the quality is good,” she says.

Puri however believes that it will take a little while for coliving spaces to gain the kind of momentum they enjoy in the Western countries. “Most of the large start-up players replicate the tried-and-tested model practised in the developed markets of the West, which often appeals to a large section of their Indian customer base. However, given the diversity of Indian ethos, we are bound to see some India-specific evolution in this model. For instance, the unspoken mantra that coliving is only for young people may not stand the test of time in India,” he concludes.