Need for Student Housing in India?
Entrepreneurs in leading real estate firms over the last 4-5 years have identified trends such as the need to bring about a change and the thrill in moving to bigger cities for education. Irrespective of how the incomes of the parents have increased and the demands of the modern students have grown, hostels have not really addressed these. Moreover, when it comes to accommodation facilities in universities, the rising number of students is overwhelming the hostel infrastructure, resulting in unhealthy and undercooked food, unhygienic washrooms, nosy landlords, unreliable power supply, and poor internet connections.
Student challenges in India
Despite the upsurge in the number of students going for higher education, students’ lives have not changed much. Students are the biggest assets for a country like India, and are now migrating towards metropolitan cities. With a low budget, these students look for facilities to relieve themselves of the burden of finding good quality food and secure places to live in. Student housing facilities were born out of the need to prepare a suitable place to facilitate higher education among Indian youth. Their plans are completely affordable and regard electricity, lodging, internet connection, healthy dining as basic needs, thus serving the students according to their needs.
To list a few challenges that students face with respect to their accommodation needs, the numbers suggest a 4-5% growth of students migrating to tier-1 and tier-2 cities such as Pune, Bangalore, Mumbai, etc, year on year basis. Amidst this ever-increasing rate, there is a shortage in addressing the growing demands of hostel needs in the institutions. The private rental facilities are mostly informal and require a high budget to sustain the daily needs of the students. Moreover, the amenities are not hassle-free and the students waste their valuable time struggling to get acquainted with these difficult environments. The size and cost difference provided by these unorganized sector hostel services in comparison with the organised sector also has a role to play.
Though the unorganized sector shall always try to fulfill its role in compensating for this widening gap between the demand and supply, formalization is the new trend and student housing companies such as Ashtvinayak housing are proving to be leading from the front. As this sector will emerge, it is the students that are going to benefit the most.
With the expanding number of beds, the facilities are also growing. The plans are designed to suit the needs of students from all spheres of Indian economy embracing the new and younger population to thrive and find better the solutions to other issues in the country.