Student housing seen as big market in India |
Education is one of the pillars of modern civilization, and education system in India is hardly ever affected by the economies of the world. Universities in India annually register a throng of applications looking to fill vacancies left behind by graduating batches. However, the number of students studying at colleges and universities and the hostel facilities available for such students are not proportionate, and amounts for a meagre 20% of the total volume. This in the long run has given rise to private accommodations around the campus areas. But this trend is changing and changing fast as this marketplace is making waves in the Indian real estate sector by addressing the high potential market. The total addressable student housing market is comprised not only of the new age domestic students but international students as well. With government`s `Study in India` initiative announcement in the 2019 budget, and regulatory measures being put in place, the demand for global quality standards and reliable student housing is on an all ¬time high. With new universities establishing a stronghold in tier¬-2 cities, new market players in the student housing sector have taken to the `lease and renew` model. These developments are fast transforming the Indian real estate sector with the aim of meeting the growing demand for quality student housing.
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