Realtors look at co-living for rental incomes
Property builders are increasingly focusing on shared living spaces to boost rental income.
While SalarpuriaSattva group has picked up 50% stake in shared living operator CoLive, American company WeLive is expected to debut in the country this year with Embassy Group, and CP Developers has tied up with StayAbode Ventures to set up Asia’s largest coliving property in Bengaluru.
Coliving market in India is at a nascent stage, with only a few organised players. However, the trend is catching on in major cities as the housing market moves from the proprietorship model towards a service one.
Rents for a shared living accommodation range from Rs 6,000 to Rs 20,000 a month on sharing basis, while for individual living the range is Rs 18,000-25,000 a month.