As a business model that largely caters to the millennial demographic we witnessed consumers demanding a space that would not only help them relax but also motivate them to work from home in the hybrid mode. The Co-Living segment works as a feedback model and will see new developments in the upcoming year in response to the contemporary user demands.
According to a recent research by JLL, India’s urban co-living market is set to become an INR 1-trillion opportunity, the research also indicates that the supply of beds by organized co-living players is expected to increase to about 5,41,000 across the top seven cities with Delhi NCR and Bengaluru accounting for more than 50% of this cumulative capacity.
We expect consolidation to pick up further in 2023. We also expect a higher demand in micro-markets in terms of student housing and we hope to continue our growth momentum and expect more resilient demand.
