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Business Standard

What is co-living and how major players in India are rapidly scaling up

Demand is surging in metro cities, driven by Gen Z and millennial renters who value flexibility, safety, and access to premium amenities New Delhi India's urban rental housing is undergoing a shift, with co-living emerging as a popular alternative to traditional PG accommodations. Furnished, flexible, and community-driven, co-living is rapidly gaining appeal among the young population. What exactly is co-living? Co-living refers to renting a private room or studio in a fully furnished, shared property while accessing common areas like kitchens, lounges, or coworking zones. Unlike PGs, co-living spaces offer All-inclusive services, Wi-Fi, housekeeping, security, laundry, and curated social events Gaming zones, fitness areas, and dedicated recreational spaces Who is choosing co-living, and why? Popular among students, young professionals, and digital nomads aged 18–35. Tenants who prefer centrally located housing that is affordable and move-in ready, without the hassle of furnishing or long-term commitments. Demand is surging in metro cities, driven by Gen Z and millennial renters who value flexibility, safety, and access to premium amenities. Flexible lease durations and low upfront costs add to the appeal. What are the major players doing now? Leading operators are Stanza Living, Zolo Stays, Colive, HelloWorld, Nestaway, Settl, Coho, Covie, Yello Living, and Olive Living. These firms are expanding in Mumbai, Pune, Hyderabad, and Bengaluru. Colive, based in Bengaluru, currently operates 15,000 beds and plans to scale up to over 7,000 by year-end. Nestaway and HelloWorld, offering student housing and co-living, run 1,000 beds collectively and plan to double capacity within two years. Most co-living providers report 85–90 per cent occupancy, with monthly rents ranging from ₹10,000 to ₹35,000, depending on whether accommodation is private or shared.