Bengaluru's 3 lakh college students require accommodation; 90% of them depend on private homes
The demand for on-campus residence is high across the country and only 20% of the requirement has been met so far.
FollowBengaluru: With Bengaluru having the highest concentration of universities, 6.6 lakh students study in colleges here. Reports state that close to 50% (3 lakh) of these students require accommodation, out of which 90% of them depend on private homes. This is due to the lack of campus housing provision.
Though Pune is known for the high number of colleges and universities, 1.9 lakh out of the 2.6 lakh students do not get to reside in the campus, reports said.
Large migrant student population in Hyderabad, Jaipur, Nagpur and Noida are looking for accommodation while pursuing their degree.
The demand for on-campus residence is high across the country and only 20% of the requirement has been met so far.
Reports claim that the private home owners continue to dominate the housing market when it comes to student accommodation in the country. Majority of the students live in private hostels or they rent apartments outside the campus. Currently the quality of these accommodations do not meet the want or expectations of the students. But seeing the requirement for accommodation and the necessity for high quality, investors are showing more interest in the market segment.
The government wants 30% of India’s 18 to 23-year-olds to be enrolled into higher education courses by 2020. This would increase the student population in the country to 40 million. With this, the requirement for accommodation will also rise.
The number of purpose-built student accommodation (PBSA) or private hostels are less when compared to the demand. Currently there are 1.6 million PBSA bed spaces in India. This is just 4% of the total students enrolled. The majority of these spaces are outside the campus, and do not provide quality accommodation with little modern value-add facilities including WiFi and laundry services.
The current demand for PBSA bed spaces is close to 8 million and it is expected to increase by 8% every year until 2025. At that point, the required PBSA bed spaces would be approximately 13 million.
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