Going back even a decade or so in time, students and young professionals preferred hostels, dormitories, and PG accommodation options. But the past years have changed a lot. The needs and necessities of the younger lot go far beyond basics. With technology and innovation, the need for creative spaces that can double up as a residence and office are on top of their lists. This need got a big boost from the COVID-19 pandemic, with colleges and offices going online. So, hundreds of thousands of students, young professionals, and entrepreneurs living in metro cities like Mumbai, Delhi, and Bangalore found the perfect solution – co-living spaces.
Co-living spaces, wildly popular in Western countries, are now making it big in India. These are essentially living facilities shared by two or more young professionals, entrepreneurs, or even students. The idea of community living is exemplified by co-living spaces that bring together like-minded people of the same generation and provide them with living and working spaces and a host of facilities that make a living here very interesting. The concept of co-living takes the rudimentary “room sharing” to a whole new level. Let us explore how these are different from PGs and hostels and how the residential landscape in urban centres is undergoing a transformation.
Unlike traditional PG (paying guest) facilities, co-living spaces are much more than a bed, breakfast, and cupboard. Instead, they offer a host of amenities and facilities, a lifestyle that the millennials have come to expect, to demand. From IoT-powered housing systems to hybrid working spaces, from gym and fitness centres to recreation and entertainment facilities, the younger generation is looking for a whole lifestyle built into co-living spaces.
Co-living spaces can also be built to showcase shared interests and pursuits. For example, millennials passionate about environmental conservation may opt to live in a co-living space that epitomises green building practices. Co-living spaces can be furnished and explicitly managed to suit the needs of budding entrepreneurs or tech professionals or even content creators. The environment is inspiring and invigorating, making a living, socialising, and networking all possible at once.
The popularity of co-living spaces has been steadily on the rise over the past few years. The COVID-19 pandemic and the subsequent lockdown have only served to make these more popular among the migrant employees of the service industry, particularly in large cities. Living in these offers distinct advantages to young professionals. Let us take a look at a few of these –
The typical real estate investment plan involves buying a residential property that will fetch you rental income. Alternatively, you can invest in a commercial office space or warehouse or even a showroom that can bring you income in the form of a lease or rent. Owning large residential buildings or multiple units in an upscale residential project can help you set up co-living spaces. The advantages for you as an owner include multiple tenants and multiple rents, high demand, and ease of management. Corporations are keen to tie up with co-working spaces to help new employees find housing in prominent localities of the city. This is something you may wish to explore as the owner of a co-working space.
So, you’ve found your dream home, arranged for the finances to purchase it, and are now ready to live your desired life carefree. But amidst all that, as a new or prospective home buyer, you must not let one critical part of the property purchase process go unnoticed: the sales agreement!
Picture yourself in the vibrant heart of Navi Mumbrai, where luxury meets opportunity and a sense of community thrives. Welcome to Sanpada, a locality that has swiftly risen to prominence in the world of real estate. With a coveted pin code of 400705, Sanpada offers a dynamic landscape of living options. Boasting over 350 properties for purchase and more than 100 for rent, it's no wonder residents rate this neighbourhood an impressive 4.5/5 for connectivity and a solid 4.3/5 for safety.
In today's rapidly changing world of commerce, where the ability to adjust and be versatile is pivotal for prosperity, the selection of suitable office premises can wield considerable influence. Amongst the numerous alternatives at hand, two particular terms frequently gain prominence: secured office areas and virtual office settings. Although each possesses its own strengths, they are distinctly purposed. To effectively comprehend the distinctions and arrive at a well-informed choice, it becomes imperative to delve into the dissimilarities between these two alternatives.