Student accommodation in India is usually a shared living space with dorms and multiple-occupancy rooms being the commonest forms of arrangements in most campus hostels.
The most preferred living arrangement would be shared space by most students and beginner professionals across the country because it is the most economical living solution.
Campus Hostels and PG accommodation are usually the ideal set up for students within the city as they are usually affordable by the students. With the number of migrant students increasing, there is a greater demand for student accommodation facilities. While colleges and universities have a ready stock of hostel accommodation, it is definitely proving to be inadequate. 60% of students studying in Bangalore are migrant students and male to female ration of 53:47(Cushman and Wakefield – Exploring the Student Housing Universe in India).
The main function of education institutes is on providing quality education and hence student accommodation facilities are neglected or are very basic in nature like a room with a bed, study table and chair and wardrobe. Washing room, toilets and dining facilities are common. PG accommodation is almost similar with the exception of sometimes two or more students in a room (based on size/sqft) and an attached toilet/bathroom.
A metropolis like Bangalore with a vast number of Engineering, management and medical institutions would be a prime city to reorganize student accommodation through the help of a Professionally Managed Student Accommodation Body. Professionally Managed Student Accommodation (PMSA) is a relatively new and unconventional asset class that is specifically targeted at the student community, particularly in the higher education sector. As universities and colleges have had their enrolments grown, specific cities have emerged as major education centers.
At a time, when demand for student accommodation facilities is rising along with a focus on providing better livability, the role of PMSA assumes great significance. The advent of PMSA is also crucial as this is a relatively new asset class albeit one with superior revenue potential and client retention and stick ability. These private players are bringing in better amenities, fulfilling the student accommodation deficit, utilizing technology to create a seamless community-driven living experience and also helping create a community-feel and experience for the users.
The pandemic has, perhaps for the first time, created wariness for shared living arrangements like sanitation, hygiene, social distancing etc. Other questions raised are what about trying to maintain high hygienic conditions without house help while juggling exorbitant rent, personal and living expenses. This is where Professionally Managed Student Accommodation comes into play.
