The New Wave of Co-living Startups

Nandini Mukherjee, Managing EditorThe concept of a shared economy is creating a larger impact on our lives than what was initially imagined. It is bringing about radical changes in the way we work and live. In the real estate sector, especially, sharing has become the buzzword. The idea is manifesting itself in various ways, with co-working and co-living being its two primary examples. The residential sector is witnessing the concept of space optimization to reduce costs and achieve greater productivity and the co-living concept is now an emerging asset class within the ambit of alternative real estate, offering a sustainable solution to the urban space crunch. It
combines private living spaces with shared communal facilities. The idea is to create an environment that not only provides privacy, but also promotes social contact. There is an emphasis on social exchange; flexibility and affordability that makes it stand apart.

India is becoming the trailblazer of co-living with several new players looking to grab a share of this looming opportunity. A growing millennial workforce, fast evolving consumer trends and an untapped demand potential in the market are real draw cards for start ups and developers looking to enter the market. Co-living startups also have enormous potential. With rising rentals and a perpetual shortage of good accommodation, it is expected to emerge as a strong alternative for the young population.

In our current edition we have featured a list of "10 Best Co Living Startups". The list consists of startups that offer everyone from the working professional to the digital nomad a new way to live an exciting and freedom-filled, yet budget friendly, life focused on community and creativity. Nearly 600 million people in India are under 25. With rapid urbanization and a larger number of people moving to metros and bigger cities for jobs and economic prosperity, the future of co-living startups seems quite bright!
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