In a recent conference held by Realty & More Magazine, “Affordable Housing: a game-changer” was one of the major topics of the discussion where Mr. Gaurav Gupta, President CREDAI Ghaziabad & Director SG Estates expressed his views on student housing, which is an upcoming trend.
Realty & More is a real estate magazine that incorporates topics on real estate, infrastructure, ancillaries, and home solutions. The conference was held wherein the real estate promoters etc. participated, and the panel discussion was the part of the meeting. Basis, the developers, builders, had discussions on the various topics related to the trends on-going in the real estate sector. The conference was based on ‘R&M Podium- Commercial Real Estate, Affordable Housing, and Luxury Housing, the changing dynamics. Thus, panel discussions were based on these topics.
If we look at the scenario of Affordable Housing, Affordable housing has picked up a pace in several years. Real estate reforms, such as RERA, have shown positive growth. The Pradhan Mantri Awas Yojana (PMAY) has been a real change in the field of affordable housing in the real estate sector. Hon. FM Nirmala Sitharaman recently announced in the cabinet session to create a Rs 25,000-crore fund to help complete the 1,600 stalled housing projects, which will solve the long-pending problem of the homebuyers. This will boost the real estate sector. In the future, it is said that there will be alternative residential assets.
According to the India Real Estate Market Outlook 2019, Boost in sales is backed by sustained positive sentiment.
- Enhanced consumer confidence led by the active implementation of key infrastructure projects and clarity on rationalization of GST rates and implementation of RERA has brought back large and established developers into the Delhi NCR market.
- Revival in sales set in 2018, gained further momentum during the first half of 2019.
- Developers focused on the upper-mid and premium segments, mainly in Gurugram and Noida.
Mr. Gaurav Gupta presented a speech on Affordable Housing, stating how it is trending in Delhi/NCR. He said, “The trend of Affordable Housing in Delhi/NCR is growing, and the developers are focusing on a better quality of affordable homes which have a proper electricity supply, adequate sewage systems in the apartments, and the government has increased the incentives to implement these changes. The use of the appropriate land area has to be looked after as land is the primary raw material. Also, if we see the current outline of affordable homes, organized student living is trending in Delhi/NCR. It is said that by 2023, the student housing sector will attract millions of investments. The segment of student housing/ co-living is increasing throughout the country and could see development in the coming years. The concept of a single bed for every six students is implemented in the hostel; thus, pertaining to this, the student housing sniffs opportunity of growth in the coming years.”
Currently, in India, we have only unorganized hostels/ options available for students with very fewer facilities.
However in developed countries, Student Housing is well organised and students have access to well organised facilities which ensures good quality food, extra-curricular activities which ensures a holistic living.
Student Housing is a widely unexplored segment which is bound to grow in recent future.