Business & Investment

How a communal living space is created in the aftermath of a pandemic

Communal living spaces are more than just housing solutions, their attractiveness to tenants is based on changing people’s lifestyle choices. During the pandemic, the world shifted even more firmly to communal apartments, and this trend will not disappear soon.

Symbiosis This is a relatively new phenomenon in the Indian real estate business, but it is rapidly gaining popularity in Tier I cities in India. The symbiotic model protects the privacy of the lessor and at the same time provides an opportunity for social interaction. People are attracted to symbiosis because they can connect with others in a sociable and meaningful way.

As more and more urban areas around the world enforce movement restrictions and blockades, one of the benefits of communal living spaces has become apparent.

Compared to the loneliness of living alone in a small apartment, the community element of communal living has become the best-selling element. This is especially true for millennials, who make up a significant portion of the symbiotic market.

Speaking of the benefits that communal living must offer as an asset class, Mr. Kahraman Yigit, Olive by Embassy’s co-founder and CEO said:, “The flexibility that Coliving for institutional investors must offer as an asset class has never been seen before. The general idea of ​​associating frugality with features of financial incapacity is widespread. However, this concept is evolving with the advent of numerous new age players on the market. Now that employees are back in the office, communal living also offers the flexibility of temporary accommodation. Serves as a great entry point for a large number of end users looking for a new location, looking for an upgrade from their previous accommodation, or wanting to experience this new era of asset classes. The fact that employees return to their hometowns and find new places after terminating their existing rental contracts must give most end users the benefits that communal living must offer as an asset class. This will help provide it with a new life lease.

Collecting spaces nationwide and adding a new perspective for hybrid work models, Mr. Suresh Rangarajan, Colive CEO and Founder Claims, ”Hybrid work sets a new standard for employees to work in the office for 1-3 days a week and work at home for the rest of the time. But the important thing to note is that it is available in the city for physical face-to-face meetings. This will automatically give a new life lease to Coliving across the country. Employees are keen to secure quality housing in urban markets that lead to increased productivity. This creates a new concept for hybrid work living spaces that combine coworking spaces and coworking spaces. A private room that combines a highly productive workspace with a sleeping area with all the amenities of high speed Wi-Fi, dining, housekeeping and safety. Welcome to the new hybrid world!

“We’re already seeing big changes in people who want to get involved with the bigger world around them. Going to work, training, playing, eating, etc. are coming back. Some of the things. People want a little more balance around them, and flexibility is at the heart of helping them get it. Another form of shared economy business model, co-living, is exactly Providing it. Helping residents benefit the community, save costs and stay agile. “, Robin Chabra, CEO of Dextrus, says We’ll talk about how the pandemic forced us to cut costs and save money, and how colliding is now a popular option among residents.

With regard to collaborative work spaces that are gaining momentum, especially those near the workplace Abhishek Kumar, co-founder of COVIE Ventures Private Limited, said:, “As more offices are opened, the need for communal living spaces is increasing. Individuals and businesses are returning in large numbers, especially in the business corridors. Desperate attempts to avoid exposure to the virus. So people are now looking for accommodation with hygiene and convenience in mind. Locations close to workspaces are expensive and lead to the popularity of shared living spaces, or well-known communal living. Communal living in India is expected to gain strength and momentum as office occupancy normalizes. We believe the industry will recover even more strongly in the coming months. . ”

“In recent months, pre-booking and queries have skyrocketed as cities such as Noida, Bangalore, Pune, Chennai and Coimbatore have returned to normal after long breaks. Some organizations are still full of offices. Bookings are still sluggish as they are reluctant to open to. We expect the occupancy level to return to pre-offer levels by January 2022. ” Dr. Nikhil Sikri, CEO and co-founder of Zolo While stating the status of advance reservations and occupancy levels in the Indian capital.

Addressing the impact of hybrid work models on workplace uncertainty and the realization of millennial choices, Sparsh Khandelwal, founder of Stylework, said:, “You’ve probably heard about coworking, but there’s a new concept along the way. It’s a communal life that is, in a sense, coworking equivalent to finding a home. Coworking and coworking. Both living are concepts based on the sharing economy model. The sharing economy model is a very flexible economic model in which assets and services are provided and shared among individuals in various fields. After the pandemic, a hybrid work model. With the introduction of, the uncertainty of the workspace has increased, and the millennial generation is shifting from the traditional rental space to coworking because of its ease of use. “

Communal living is a young sibling of student accommodation and residential life. The long-term viability of these established asset categories is expected to attract greater investment in assets from all forms of housing to workspaces, including communal living spaces.

In addition, because communal living facilities are professionally managed, professional services such as social distance rules and regular disinfection of common areas are provided by communal living operators, making the environment safer in certain situations. Become.

Tenant entry and exit and activities are also regulated by communal living spaces, reducing pandemic-related concerns. As a result, a well-designed communal living space will continue to thrive, regardless of pandemic.

Read again: Online Property Search in September 2021 has exceeded its historic peak: Report

How a communal living space is created in the aftermath of a pandemic How a communal living space is created in the aftermath of a pandemic

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