Co Living Spaces Report PDF

A Study on Market Potential of Growing Co-Living Spaces
CHAPTER 1
EXECUTIVE SUMMARY
Department of Management Studies, RIT Bangalore Page 1

Executive summary
This project is undertaken as the part of curriculum to understand the new concept
in the rental housing i.e. Co- Living Spaces which is in nascent stages and is very
much liked by millennials. The report identifies the factors which one considers
when they are looking to stay on rent in metro cities.
The research is undertaken to understand the awareness among millennials about

Co-Living and to understand the kind of amenities required by them
The research shows that people aware of Co-Living concept are very much
interested in staying in Co-Living Spaces as it combines private living spaces with
shared communal facilities and create a community-centred environment that not
only provides privacy in living arrangements but also promotes social contact
through community events.
The study identifies that working professionals and students moving to cities for
work and study respectively look for comfortable stay without any hassles so that
they can concentrate on their work and study. Youngsters moving to new city find
themselves lonely but staying in Co-Living helps in socializing and interactions
among the individuals and they starts enjoying their stay.
The study highlights that people are interested in buying a room in Co -Living
Spaces like any real estate property as prices will appreciate and they will get the
first step in ladder of housing at young age.
Based on the study’s findings, marketing mix for Co-living Spaces is developed
and it shows that there is a huge market potential for Co-Living Spaces as the

industry has just started to evolve and population migrating to metro cities is
young.
The biggest driving forces behind the rising popularity of Co-living Spaces are the
young renters moving to new cities for job prospects who are looking to meet and
connect with new people.
The renting philosophy for co-living spaces is derived from millennial behavior
where such renters share less utilized areas such as living spaces, kitchen,
balconies, etc. in order to make an economical rental decision and be part of a
working community. Their willingness to sacrifice these spaces in their individual
units, if these options are available in the apartment buildings they stay in, help
operators to arrive at different all inclusive membership packages while
accommodating more individuals on a single floor plate
Co-living is based on the 4Cs principle, which is a major unique selling point for
the target population – Convenience, Community, Cost and Collaboration. It is
these 4Cs that create a home away from home for the young renters and drive
higher occupancy.
Report is based on the survey conducted to the audience which took place in
Bengaluru. Descriptive sampling method is used to analyse the data. The data
collected for the study was conducted through a structured questionnaire.

CHAPTER 2
INTRODUCTION

Introduction
You are a single person with a job that leaves little free time. You are looking for
that accommodation that gives you all facilities, yet relieves you of the bother of
maintenance. More importantly you do not want to pay for spaces that you hardly
inhabit, yet cannot do completely without. You scout around for single rooms,
studio apartments that fail to meet your expectations.
The emerging concept of Co-Living spaces which is fast catching up, offering all
that a single person aspires for. Further, the ambience and facilities on offer far
exceed what even a single bedroom space may provide. Permitting community
living along with the provision of a host of facilities and attractions, the co-living
spaces propose to bring together individuals with similar lifestyles and
inclinations.
The concept emerges from the fact that single working person spends barely three
hours a day in the kitchen and living area while the time spent in the bedroom is
around 9 hours a day. The rental cost of the bedroom works to be 40 per cent of
the total house cost, it is prudent to share the spaces which are barely used and can
be used by multiple people so as to share the rentals, utilities and maintenance
bills.
Definition of Co-Living Spaces
“Co-Living Spaces refers to housing models where individuals have a private

housing space, but also have access to a range of communal facilities such as
shared living areas, dining spaces, gyms, gardens and cinema rooms. One of the
key distinguishing aspects of co-living is its heavy emphasis on facilitating social

interaction and supporting the development of active communities in which

individuals engage with their neighbours on a regular basis.”
The idea of co-living is to create a community-centred environment that not only

provides privacy in living arrangements but also promotes social contact through
community events .Co-Living seeks to build a community centred around ‘real
socialising’ in a world where social media platforms, such as Facebook and
Instagram, are the virtual alternatives for socialising for millennials.
The biggest driving forces behind the rising popularity of co-living spaces are the
young renters moving to new cities for job prospects who are looking to meet and
connect with new people.
Principle of co-living spaces
All the Co-Living spaces are based on principle of 4C’s
Convenience
Easy to rent and move in as there are no middlemen like brokers and one does not
need to deal with difficult landlords , Co-Living properties are coming up near
educational and employment hubs with easy access to public transport and social
infrastructure, a big comfort factor for a fulfilling lifestyle.
Cost
Co-living operators are efficiently using the underutilised space. Economies of

scale for things like utilities, Wi-Fi, cleaning and furniture are also creating cost

efficiencies for all parties involved. While, a co-living space may cost more than a
room in a shared apartment at first glance, once all the additional costs like move-
in and move-out, agent fees, utilities, maintenance and furniture depreciation are
factored in, the pricing is relatively similar – with the added benefit on having
flexible lease term.
Community
Group activities organised by co-living operators ensure you do not feel lonely in
a new city, Communal kitchens, modern amenities to make people feel like a
family. Flexible use of real estate based on ‘sharing economy’ takes away the
monotony of everyday life.
Collaboration
Community-driven events and common areas, such as living spaces and kitchens,
redefine the way people live and derive inspiration and creativity Lifestyle-
focussed environment helps meet new people, learn something new every day,
innovate and collaborate for work related aspects too

Characteristics of Co-Living Spaces
Technology -driven easy living
Technology is a prerequisite for today’s youth to manage their lifestyle. Co-living

operators develop mobile apps which create an online platform, giving the
residents access and flexibility and smoothens communication between the tenant
and operator. The residents can provide feedback or complaints and ask for
services like housekeeping through these apps.. Apart from the mobile app, co-
living operators are trying to make the most of technology with surveillance, facial
recognition software or biometric or keyless access for the absolute security of
their residents and staff.
Privacy amidst communality
Co-living space providers supply wider infrastructure of civic participation,

community enterprise and the sharing economy. A lot of community-focused
social events are organised to improve the social engagement between residents.
Many co-living operators organize community-led events such as yoga classes,
barbecue nights, laughter classes, story-telling events and pizza nights for the
modern-day city dwellers.

Hassle free accommodation
Co-living spaces are ideal people who are looking for complete flexibility and
homes that are fully furnished, serviced and managed. These usually operate on a
plug-and-play model that saves tenants the hassle of dealing with everyday
household chores and also from the burden of paying frequent utility bills. The
monthly rent usually includes a host of facilities and utilities like – TV,
housekeeping, Wi-Fi, cable, common kitchen and laundry spaces, maintenance
and all the furnishings. With no lease contracts, the residents have the flexibility to
stay for as long as they need and as their work demands.
Co-living’s economics for millennials
With a very vast globalised workforce, today’s millennials are travelling and
relocating very frequently, due to which they are looking to cut back on costs. The
rentals charged by these co-living spaces are usually inclusive of all added
facilities and yet affordable for the average young professional. The lock-in
periods for co-living spaces usually vary from two to six months and the
refundable security deposit for such short-term lease options are only two to three
months of rent.

Typical Co-Living Space Diagram
(Secondary Source)

CHAPTER 3
INDUSTRY PROFILE

Industry profile
Co-living spaces, like car-pooling and co-working, is the result of demand for
more evolved rental housing solutions coming from millennials, students and
young working professionals whose choices differ vastly from those of previous
generations.
Presently, this new accommodation option is most popular with young and
unmarried millennials aged anywhere between 20-30 years. Professionals who
don’t live with their families in the city of work are also considering this option.
Basically, “Co-Living Space is a rental housing concept wherein fully furnished

homes are rented to groups of people who wish to cohabit without the restrictions
typical to the more traditional paying guest/hostel-type accommodations for urban
singles. Co-living spaces allow their residents to mingle and interact while
simultaneously providing privacy at various levels especially from landlords.”
These are fully managed spaces much like serviced apartments but with several
extras and customization possibilities included. For instance, tenants can choose
private or shared bedrooms. Common kitchens and areas for dining, general
interaction and recreation are also integral to co-living units.
Co-Living spaces are about a lot more than mere lodging and boarding. They offer
convenience and an engaging lifestyle for tenants who find the restrictive paying
guest (PG) or hostel onerous and overly limiting, yet have considerable difficulty
with finding accommodation that provides a less encumbered experience.

While paying guest and hostels are purely about lodging and sometimes boarding,
Co-Living provides an entirely new lifestyle. This far more sophisticated way of
living offers a streamlined, hassle-free and invigorating living experience with
opportunities to cohabit and interact with others without overbearing scrutiny and
'house rules'. Co-living provides such individuals with a way to circumvent the
isolation and loneliness that is often integral to a hectic, driven urban experience.
The renting philosophy for co-living spaces is derived from millennial behavior
where such renters share less utilized areas such as living spaces, kitchen,
balconies, etc. in order to make an economical rental decision and be part of a
working community. Their willingness to sacrifice these spaces in their individual
units, if these options are available in the apartment buildings they stay in, help
operators to arrive at different all inclusive membership packages while
accommodating more individuals on a single floor plate.
The icing on the cake is the design appeal of these apartment buildings which
encourage socialisation. To cater to this sort of renting philosophy, many
buildings in prime locations such as city centres, near employment hubs like IT
parks, special economic zones or universities are being redesigned, repositioned
and rebranded keeping millennials in mind. This trend is giving impetus to an
organised rental market in cities such as Bengaluru, NCR and Pune in the same
way as co-working spaces did for shared office spaces

Statistics showing huge potential for co-living spaces industry in

India
 According to prop tiger ,Co -living spaces industry in India is estimated at

$93billion over next 10 years as against the current &200 million
 According to red seer report ,Co-living In India is expected to touch 2billion
by 2022
 47% of workforce in India is young
 Workforce trends – The Indian workforce is expected to increase to 600
million by 2022 from the current estimated 473 million. Though 10 million
youth join the workforce every year
 According to UGC data (2016) over 30.8 million students were pursuing
higher education in as many as 935 universities and 50,000 affiliated
colleges all across the country. Out of these, nearly 12.3 million students
were migrants. As per a survey by PropTiger.com, total occupancy recorded
in hostels within college campuses across India was only 3.4 million
students, leading to a demand-supply mismatch of 8.9 million students.
 Similarly, data analysis reveals that in total, India had 37.4 million migrant
professionals earning Rs 0-10 lakh in 2018 who have completed their higher
education between FY12 to FY16. A majority of these students and young
working professionals depend upon unorganised rental options.
 The Co-Living sector has a total untapped demand of approximately 46.3
million beds, out of which 8.9 million is from student housing. It is this
demand and gap deficit that has provided a huge window to organised
players providing Co-Living Spaces making it a thriving market.

 Migration trends – As per the Economic Survey of India 2017, the interstate
migration rate doubled between 2001 and 2011, compared to the previous
decade growing at 4.5% annually. Annual interstate migration in the
country averaged at nearly 5–6 million migrants per year. Between 2011 to
2016, interstate migration in India touched 9 million annually. This is a
significant numeric indication of the additional population pressure in urban
centres.
 Going by the recent trends, co-living may offer a higher rental yield of as
much as 8-11%, as compared to the current average yield of 1-3% in
residential properties. It is definitely paving the way for a new asset class in
real estate investing. Interestingly, co-living spaces can also bring down the
average cost of living for consumers by as much as 10-15% on the back of
optimal real estate utilization and the economies of scale.
Types of co-living models in India
Lease and operation
This is one of the most prevalent Co-Living models in India, wherein a third party
acts as an operator of the Co-Living service provided to the renters. In this model,
the operator does not have any real estate ownership and takes the properties on
lease from property owners before subleasing them to renters. There is a revenue
sharing arrangement with the property owners, which varies depending upon the
state of the property, upgradation requirement, etc. From market interactions with
co-living operators, we have learnt that if the property owners invest in redesign
and furnishing the co-living space, the revenue sharing arrangement is 50:50.
However, if the co-living operator makes a capital investment in the co-living

space upfront to redesign the space and add furnishings after leasing the property
from the property owner, the ratio changes to closer to 70:30 in their favour.
Full ownership and management of operations
This is a co-living model in which property owners convert, reposition and

manage their existing properties as co-living spaces. In this model, no third-party
operators are involved for operations and owners pocket all the profits which are
ploughed back into the management of property and expansion of operations.
Since the property owners are using their existing properties to convert into co-
living spaces there is no capital expenditure at the outset. From market
interactions with several stakeholders, we have learnt that owners of old buildings,
which were initially set up as guest houses, hotels, beauty salons, tuition centres,
etc. are being converted into co-living spaces for better space utilisation and to
generate income from these assets.

CHAPTER 4
COMPANY PROFILE

COMPANY PROFILE
SOBHA LIMITED
SOBHA Limited is an Indian real estate company founded by Mr. P.N.C. Menon
in the year 1995 with a clear vision to transform the way people perceive quality.
Today, SOBHA, a Rs. 32 billion company, is the most trusted brand and only
backward integrated real estate player in the country.
Since inception, the Company has always strived for benchmark quality, customer
centric approach, robust engineering, in-house research, uncompromising business
ethics, timeless values and transparency in all spheres of business conduct, which
have contributed in making it a preferred real estate brand in India. In 2006,
SOBHA went public through its initial public offering, an event that created
history when the issue got oversubscribed a record 126 times.
Headquartered in Bangalore, SOBHA is primarily focused on residential and

contractual projects. The Company’s residential projects include presidential
apartments, villas, row houses, luxury and super luxury apartments, plotted
development and aspirational homes replete with world-class amenities. In all its
residential projects, the company lays a strong emphasis on environmental
management, water harvesting and high safety standards. On the contracts side,
the Company has constructed a wide variety of structures for corporates including
corporate offices, convention centres, software development blocks, multiplex
theatres, hostel facilities, guest houses, food courts, restaurants, research centres
and club houses. Some of SOBHA’s prestigious corporate clients include Infosys,
Taj Group, Dell, HP, Timken, Biocon, Institute of Public Enterprises (IPE),
Bosch, Hotel Leela Ventures and others.

One of the well-respected brands in the real estate sector, SOBHA has many
distinctions to its credit, mainly its impeccable execution and on-time delivery
track record. As of December 31, 2018, SOBHA has delivered real estate projects
and contractual projects covering about 100.31 million square feet of area. Since
inception, they have completed 135 real estate projects and 301 contractual
projects. The Company currently has ongoing real estate projects aggregating to
39.09 million square feet of developable area and 27.23 million square feet of
saleable area, and ongoing contractual projects aggregating to 8.89 million square
feet under various stages of construction. The Company has a real estate presence
in 9 cities, viz. Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Thrissur,
Calicut, Cochin and Mysore. Overall, SOBHA has footprint in 26 cities and 13
states across India.
The backward integration model is one of the key competitive strengths of

SOBHA. This ensures that the Company has control not only over the supply but
more importantly over the quality of the materials it uses in construction activities.
SOBHA has all the competencies and in-house resources to deliver a project from
conceptualization to completion. Backward integration includes an interiors
division, a metal works and glazing factory and a concrete products factory.
SOBHA has also diversified into retail business with spring mattresses under the
brand name ‘SOBHA Restoplus’. More than 27 variants of mattresses are
produced by the mattress division using cutting-edge machinery of international
quality.
SOBHA is renowned for its world-class products. The Company conforms to the
ISO 9001, ISO 14001 and OHSAS 18001 certifications for its quality, safety and
environment management systems.

SOBHA employs over 3600 people directly. It places a lot of emphasis on human
resource development of which skill enhancement and advancement are given
paramount importance. At SOBHA, training is an on-going process for all
employees which ensures that they are abreast of the latest and newest
developments in their domain of expertise.
As a responsible corporate citizen, SOBHA’s CSR activities encompass the areas

of education, providing healthcare facilities and helping the aged, single mothers,
children and others in need of financial and other assistance. The CSR activities
are primarily undertaken through a public charitable trust, the Sri Kurumba
Educational and Charitable Trust.
Some of the key social projects undertaken by the Trust are (a) SOBHA
Hermitage, a unique senior citizens’ and widows’ home with world-class
amenities, (b) SOBHA Health Care, a primary health centre with best-in-class
facilities for medical treatment, (c) SOBHA Academy, an exclusive educational
institution for the underprivileged children, (d) SOBHA Icon, another educational
initiative to improve the standards of Government school students in higher
classes, (e) SOBHA rural women empowerment, (f) social rehabilitation scheme
for the people of the three backward panchayats
SOBHA as an organisation is highly focused on delivering international quality

products in a timely manner with utmost perfection.
Mission- No shortcuts to quality
Vision- Transform the way people perceive quality
Tag line- Passion at work

CHAPTER 5
MARKETING MIX

4 P OF SOBHA LIMITED
PRODUCT
SOBHA’s residential projects include presidential apartments, villas, row houses,

luxury and super luxury apartments, plotted developments and aspirational homes.
PLACE
SOBHA is present in 9 cities namely Bangalore, Mysore, Pune, Chennai,

Gurgaon, Coimbatore, Thrissur, Calicut, Cochin. Overall Sobha has footprint in
26 cities and 13 states across India.
PRICE
 Aspirational homes may range from 45-75 lakhs ,

 Luxury apartments may range from 1-2 crores ,
 super luxury apartments may range from 2-4 crores,
 row houses will be around 4 crores,
 Villas may cost up to 7-8 crores.
PROMOTION
 The main promotion is via social media which includes advertising and
promotion through Facebook, Instagram, Linkedin and twitter etc.
 Sobha website and sobhaYoutube channel
 Promotion through renowned network of channel partners
 OOH and transit advertising
 Banners and hoardings
 Loyalty program to Targeting employees and existing Sobha house owners
to get referrals

CHAPTER 6
MCKINSEY 7S MODEL

7 S OF SOBHA DEVELOPERS
SYSTEM
Sobha Limited has a system of both precast technology and Mivan technology.
Precast is a latest construction which brings efficiency and saves time

predominantly and production is also easy as 20000sq ft of these elements can be
produced in the factory every day. The difference is that in normal technology the
entire construction takes place at the site but while in precast, all the elements that
go into constructing a building happens at the factory so these elements are
transported into the site and then they are assembled. Quality of construction is
consistently maintained and it also minimizes labour dependence as everything is
automated and mechanized.
The mivan technology where aluminium panels are used to construct walls and
slabs in a very short time. It provides with increased seismic resistance, increased
durability and reduced leakages. This technology is widely used in Europe and
Middle East since it requires less labour thereby, reducing costs and hazardous
risks.

STRATEGY
Strategy is a plan which will be developed by SOBHA developers to achieve

competitive advantage and successfully compete in the market. To achieve this
competitive advantage the company should have strong objectives, mission and
vision. Sobha has always strived for benchmark quality, customer centric
approach, uncompromising business ethics, timeless values and transparency.
Sobha’s philosophy of passion at work serves as a compass in our mission at
creating world class quality products and workmanship. This philosophy guides to
be transparent in all the dealings and adhere to delivery on time
STAFF
At SOBHA, employees are integral to the overall growth of the company. With
approximately 3600 people are employed directly, the company places a lot of
emphasis on in-house training both for their personal growth as well as for
achieving organisational growth. Equal opportunities to all the employees are
given, without regards to their race, caste, creed, religion, marital status, sex, age
and origin. All employees are treated with dignity and provided a work
environment free from any kind of discrimination or harassment whether physical,
verbal and psychological. Sobhaites are empowered to take the best decisions by
fostering an environment of cross functional learning. Staffs are provided both on-
site and off-site training to improve their skills and meet the set quality standards
effectively.

STRUCTURE

SKILLS
The training which is provided by the SOBHA developers to the employees

include on the job training and off the job training. On job training include 30 days
of induction program to all the new employees, visiting each on-going projects of
SOBHA, visiting SOBHA’s precast factory, individual, team and organisational
learning. Off job training of SOBHA developers include those conducting
seminars, group discussion, HRD department conducting workshop, discussion
with the employees about their experience on the floor.
SHARED VALUES
SOBHA Limited values rely on five different pillars. They are- integrity,
reliability, passion, quality, transparency.
Integrity- SOBHA is committed to the highest ethical standards, honesty, trust and
respect. This is earned through the performances and previously set examples.
Reliability- customers who buy SOBHA keeps trust in it as it delivers what they
need and they are performing consistently well.
Passion- SOBHA highlights passion at work in totality. Because of Its passion and
track record of being the most reliable and trustworthy builder SOBHA was
awarded as the best real estate company in 2014. SOBHA has firmly created urban
living spaces where people can live, work and play smart.
Quality- SOBHA believes in designing and executing efficient residential and

commercial complexes of international quality to offer ‘value for money’. While

rendering the customer service, SOBHA strive to make environmental, health and
safety (EHS) as integral part of the business.
Transparency- transparency means to give clear information to everyone related to

the project. Some the steps to improve transparency is by following certain
instructions like- discovery, design, review of cost, pre-construction, construction,
project close.
STYLE
Management is a power source that makes decision under the guide lines issued
by the chairman or corporate office. Vice presidents of each division constitute the
management committee headed by directors and chairman. The committee
formulates the strategic plan and policies to make business decisions and also
review the making of company’s annual plan.

CHAPTER 7
SWOT ANALYSIS

SWOT Analysis
STRENGTHS WEAKNESSESS
 Best brand known for consistent quality  Quality talent retention

 In house expertise with Backward  Perception of south Indian player and
integration not national developer
 Timely delivery of projects
 A truly corporate entity in Indian real
estate
THREATS OPPORTUNITIES
 Translating brand equity into

 Challenging environment in newer
scalability and expansion.
market
 To emerge as global affordable
 Over promise with affordable housing
housing brand
could dent its premium brand equity
 To replicate Bangalore success story
 Fierce competition ahead in affordable
to other cities specially north
housing
 Expand to new markets in post
 Less focus of brand buzz in a brand
reforms era
conscious environment
 To explore more in emerging markets
 Emergence of co living spaces among
 to enter into coliving spaces
millennials in metro cities

CHAPTER 8
REVIEW OF LITERATURE

Review of Literature
 Co-Living: A Solution to the Housing Crisis?

By Scott Corfe, February 2019
People in UK are ready to own co living spaces as asset for home ownership. They
are ready to compromise on space but not on the amenities provided .Studies
shows that the potential benefit of Co-living is to reduce the pervasive problem of
loneliness as Co-living spaces can prompt the formation of new friendships,
conversations and entertainment to the benefit of wellbeing. Though co living
provides communal benefits there are challenges to affordability as the services
charges in Co-living spaces are very high .Developers in UK are tying up with
financial institution to come up with flexible schemes in favor of people. The
rollout of co-living requires a supportive financial environment
 Co -living: Rent a Lifestyle

By Knight Frank India Research, 2018
Millennial population in India is welcoming the new concept of shared housing

called co living spaces. The unorganised home rental market in India is offering
great scope for disruption in the form of co-living. The bait of a built-in social life
will push the co-living culture and a hub model for co-living and co-working
spaces is on the cards to make an entry in India’s dynamic real estate sector as it
evolves into an organised market. Cities such as Pune, Bengaluru, NCR,
Hyderabad and Chennai are well-positioned to venture in as evident from the
gross enrolment ratios of students and job opportunities created as a result of
expansion by occupiers across IT, BFSI, FMCG, telecom and media and other
sectors. The lure of metropolitan cities, whether it is for higher education, job
opportunities or the cosmopolitan culture will remain paramount for millennials
who will either chose co-living as an economic necessity given higher rentals in
desired locations or as a matter of personal preference.
 Sustainable co-housing in an urban context

By Kirsten Hofmann Thomsen, 2018
The researcher identifies that Co- living spaces are creating a sustainable
environment. Co-living facilities reduce space per capita, energy use, and waste
production. Achieved through the sharing of resources, this reduces ecological
cost and environmental damage in response to individualism, social stratification,
and wasteful consumer habits. It also provides access to shared products such as
washing machines, cooking utensils, and entertainment facilities. This, alongside
the division of rent and services, reduces the cost of living for residents. Further,
empirical studies report that contemporary co-living developments produce active
and diverse communities that enhance social interaction and provide collective
support. In this way, they combat the loneliness, isolation and disconnection that
exist within modern society. Contemporary co-living, then, is more capable of
meeting social and cultural

 Co-living: From residential to serviced apartments and hotels

By edmund tie & company research, 2018
According to edmund in his research study Co-living: From residential to serviced

apartments and hotels, he talks about growing concept of co living spaces in
Singapore as government has introduced lower carbon footprint and car free living
due to which more people are drawn to live nearby workplace .due to delayed
marriage in in Singapore people don’t want to buy house instead want to
experience the benefits of communal living. people are looking for co living as
apartment rental rates are high
 The Logistics of Harmonious Co-living: Exploring contemporary co-

living through design interventions.
By George Green, 2017
The findings of this process confirmed the hypothesis that co-living is a unique
environment, and that this presents a set of needs not currently being met. It
identified and mapped the complex, dynamic relationships between co-living
actors and found the role, trust, responsibility, and control play in creating the
feeling of home. Further, it showed the importance of flexible functionality and
intuitive engagement in helping residents relate quickly to new environments and
feel confident in playing a part in shaping their own space and joining community
activities such as lack of durability, limited function, and counterintuitive
interaction. With improved understanding and better living environments more
people will be encouraged to inhabit co-living spaces and experience its full
spectrum of ecological, economic and social benefits

CHAPTER 9
RESEARCH METHODOLOGY

Title of the project
Problem statement
Population growth, increasing ecological awareness, and a new generation

intolerant of poor service, are challenging traditional housing rental market. Urban
housing rentals like PG, Service apartments are facing the problems of poor
amenities, high rentals. A failure to meet this need is forcing people to live in low
quality accommodation, compromising on location, amenities, and expenditure.
This is fostering unsustainable, isolated lifestyles. Though we live in closer
proximity than ever, feelings of home, community, and ownership are being
increasingly lost.
The residential rental landscape in urban India is inefficient, unorganized, and

absurdly priced with many single and married millennial tenants facing
discrimination. On the other hand, we see owners struggling to find & manage
tenants.
Problems faced by Tenants

 Face discrimination, owners do not trust them
 Do not get access to good quality properties
 Compromise on locations, privacy, quality, security and rental/ deposit
terms.
 Loneliness as the rental are not providing any scope of socializing among
residents

Problems faced by Owners
 Do not get good quality vetted tenants.

 Do not get continued rentals and pay brokerage.
 Lack bandwidth to find and manage tenants and property
Scope and Need of the study

 This study will highlight the benefits of converting a house into a Co-
Living space
 The study help in determining the amenities to be included in houses to
before renting
 The study identifies the customers inclination towards buying a room in
Co- Living spaces
 The study is needed to find out the present living conditions of the working
professionals
 There is a huge scope in student housing and old age housing which works
on the same principles as Co -Living Spaces works
Objectives
 To study youths perception towards co living spaces
 To find out the type of amenities to be included in co living spaces
 To find out the factors which attract millennial to consider co living spaces
 To develop a marketing mix for co living spaces

Description of the Research

This research is descriptive in nature research.
Data Collection Sources

The present study is mainly based on primary data. The study has been collected
through the structural questionnaire method.
Statistical Tools Used

The statistical tools used for the study are-
 Tables
 Charts
 ANOVA
Sampling Design
Sampling unit- Working professionals and college students

Sample size- 100
Sampling method- Non probabilistic convenient sampling method
Limitations of the Study
 No proper research study was available on the Co-Living Spaces as it’s a

new concept in rental housing
 Data collected was limited to 100 respondents and from only one city
Bangalore

CHAPTER 10
DATA ANALYSIS AND
INTERPRETATION

Table 1 Showing Age Group
Age Group No of Respondents Percentage
18-25 28 28
25-30 56 56
30-40 14 14
Above 40 2 2
Total 100 100
Graph 1 Showing Age Group
Age Group
60
50
40
30
20
10
0
18-25 25-30 30-40 Above 40
Interpretation
From the graph and table, it can be inferred that the respondents are in the age
group of 18-25 and 25-30. We can conclude that most of the respondents are
youth and are called as millennials.

Table 2 Showing Gender
Gender No of Respondents Percentage

Male 68 68
Female 32 32
Total 100 100
Graph 2 Showing Gender
Gender
32%
Male
Female
68%
Interpretation
From the graph and table, it can be inferred that male were around 68% and
female were around 32%.

Table 3 Showing Marital Status
Marital status No of respondents Percentage

Single 78 78
Married 7 7
Divorced 6 6
Live in Relationship 9 9
Total 100 100
Graph 3 Showing Marital Status
Marital Status
90
78
80
70
60
50
40
30
20
7 6 9
10
0
Single Married Divorced Live in Relationship
Interpretation
From the graph and table, it can be inferred that most of the respondents are single
consisting of 78%.

Table 4 Showing Professional Status
Professional No of Percentage
Status respondents
Working 58
Professional 58
Own Business /
Freelancer 7 7
Student 18 18
Out of Job or 17
Looking for job 17
Total 100 100
Graph 4 Showing Professional Status
Professional Status
70
58
60
50
40
30
18 17
20
10 7
0
Working Professional Own Business / Freelancer Student Out of Job or Looking for job
Interpretation
From the graph and table, it can be inferred that most of the respondents are
working professionals 58% and remaining are either students or graduate
searching for jobs.

Table 5 showing present place of stay
No of
Place of Stay Respondent Percentage
PG 40 40
Hostel 13 13
Staying on rent in an apartment 30 30
Own house 7 7
Relatives / friend’s house 10 10
Total 100 100
Graph 5 showing present place of stay
Present Place of Stay
50
40
40
30
30
20 13
10
10 7
0
PG Hostel Staying on rent in Own house Relatives / friend’s
an apartment house
Interpretation
From the graph and table, it can be seen that 70% (40% stay in PG and 30% in
rented apartment) of the respondents are staying in PG or Rented Apartments. We
can infer that most of them are single and working professional and most of them
are immigrants from other places.

Table 6 Showing Current Housing Situation
current housing No of Percentage

situation Respondents
Very satisfied 8 8
Somewhat Satisfied 16 16
Neutral 6 6
Somewhat 55
Dissatisfied 55
Very Dissatisfied 15 15
Total 100 100
Graph 6 Showing Current Housing Situation
Current Housing Satisfaction Level
Very dissatisfied 15
Somewhat dissatisfied 55
neutral 6
somewhat satisfied 16
Very satisfied 8
0 10 20 30 40 50 60
Interpretation
From the graph and table, it can be observed that 55% of the respondents are
somewhat dissatisfied with their present place of stay. We can infer that their
living expectations are not met with their present housing condition and they are
looking for better housing conditions.

Table 7 Showing Advertising Medium
No of Percentage
Advertising Medium Respondents
Social media 50 50
Company website 6 6
Word of mouth / friends opinion 38 38
TV / radio/newspaper 6 6
Total 100 100
Graph 7 Showing Advertising Medium
Advertising Medium Used For Searching House On Rent
TV / radio/newspaper 6
Word of mouth / friends opinion 38
Company website 6
Social media 50
0 10 20 30 40 50 60
Interpretation
From the graph and table, it can be observed that 50% of the respondents use
social media to search house for rent and the next 38% respondents use word of
mouth or friends opinion when they are looking to stay on rent.
We can infer
 That to market the housing products to youths companies should have a

presence on social media be it Facebook , Instagram , Twitter ,and Youtube
 Since 38% millennials go by word of mouth or friends opinions companies
should provide best product and excellent customer service i.e. they should
run loyalty programs and referrals to their existing customer base.

Table 8 Showing factors While Searching for Stay on Rent
Particulars Strongly agree neutral disagree Strongly Total

agree disagree
Access to High 31 38 19 12 0 100
Quality Amenities
All Inclusive Rent 30 47 17 6 0 100
Ability To Meet 56 32 11 1 0 100
New People And
Socialize
No disturbance 14 27 41 17 1 100
From House owner
Near to 40 52 6 2 0 100
Workplace/College
Affordable Rent 33 57 8 1 1 100
And Security
Deposit
Graph 8 Showing factors While Searching for Stay on Rent
Important Factors While Searching For Stay On Rent
60
50
40
30
20
10
0
Access to High All Inclusive Rent Abilty To Meet New No disturbance Near to Affordable Rent And
Quality Amenities People And Socialize From House owner Workplace/College Security Deposit
Strongly agree agree neutral disagree Strongly disagree

Interpretation
From the graph and table, it can be observe that
 69% (31% strongly agree and 38% agree) respondents are looking for high
quality amenities
 77% (30% strongly agree and 47% agree) respondents are looking for a
place which provides all inclusive rent i.e. House rent, electricity bill, water
bill, maintenance etc. We can infer that they are looking for hassle free
living as they want to concentrate on their work
 56 % of the respondents strongly agree and 32% agree that they looking for
a place where they can meet new people and socialize .This shows that at
their present place of stay , they are not getting the opportunity to mingle
with others which a co- living product strongly encourages
 41% (14%strongly agree and 27% agree) respondents want to stay
peacefully and don’t want the house owner to disturb them.
 92% (40% strongly agree and 52% agree) respondent want to stay near to
their workplace or college .we can infer that they don’t want to spend their
time in travelling for commute from their residence
 90% (33% strongly agree and 57% agree) respondents are looking
Affordable Rent and Security Deposit. We can infer presently house rent
and security deposits are very high in comparison to the amenities provided .

Table 9 Showing Amenities and Services
particulars Very Important Moderately Less Not At All Total

Important Important Important Important
Housekeeping 11 23 30 29 7 100
and Laundry
facilities
CCTV Cameras 17 29 40 14 0 100
Kitchen/Dining 16 51 30 2 1 100
Area
WIFI 12 11 34 39 4 100
Vehicle Parking 55 7 18 15 5 100
Swimming Pool 10 35 35 17 3 100
And Gym
Interaction And 34 50 10 5 1 100
Hangout zone
Garden 12 36 47 4 1 100
Graph 9 Showing Amenities and Services
importantance of amenities/services while staying on rent
60
50
40
30
20
10
0
Housekeeping CCTV Cameras Kitchen/Dining WIFI Vehicle ParkingSwimming Pool Interaction Garden
and Laundry Area And Gym And Hangout
facilities zone
Very Important Important Moderately Important Less Important Not At All Important

Weighted average calculation
Scale Very Important Moderately Less Not At All

Important Important Important Important
Weight age 5 4 3 2 1
given
Ranking of amenities
Amenities Weighted Average Ranking

Housekeeping and Laundry 60.4 7
facilities
CCTV Cameras 69.8 5
Kitchen/Dining Area 75.8 3
WIFI 57.6 8
Vehicle Parking 78.4 2
Swimming Pool And Gym 66.4 6
Interaction And Hangout zone 82.2 1
Garden 70.8 4
Interpretation
From the graph and table, it can be observe that
 For 59 % (30% moderately important and 29%less important) respondents,

Housekeeping and Laundry facilities are of moderate importance. We can
infer that respondent can do their household work themselves
 For 46 % (17% Very important strongly and 29% important ) respondents,
CCTV and security guard are important when are looking to stay on rent
.For 40% respondents security is moderately important
 For 67 % (16% Very important and 51% important) respondents, kitchen
and dining area is must to have when they want to stay on rent
 For 73 % (34% moderately important and 39% less important) respondents,
Wi-Fi is of less importance when they want to stay on rent. We can infer
that Wi-Fi is not mandatory service as the internet packages are very

affordable. It’s a misconception among house owners that Wi-Fi will

attract tenants
 For 62 % (55% Very important and 7% important) respondents, vehicle
parking facility is of paramount importance while searching for staying on
rent.
 For 70 % (35% important and 35% moderately important) respondents,
swimming pool and gym are important while searching for staying on rent.
We can infer that youngsters are health conscious want all amenities in the
society
 For 84 % (34% Very important and 50% important) respondents, interaction
and hangout zones are very important while searching for staying on rent.
We can infer that they want to socialize and interact with new people as
they are away from home in a new city.
 For 51 % (47% moderately important and 4% less important) respondents,
garden is of moderate importance when they are staying on rent.
We can infer that
 Interaction And Hangout zone , Vehicle Parking , Kitchen/Dining Area are

very important amenities
 Swimming Pool And Gym, Garden and CCTV Cameras are important
amenities
 Housekeeping and Laundry facilities and Wi-Fi are of less importance

Table 10 Showing Acceptable Monthly Rent
No of
Rent(Rupees) Respondents Percentage
6000-8000 29 29
8000-12000 57 57
12000-20000 13 13
Above 20000 1 1
Total 100 100
Graph 10 Showing Acceptable Monthly Rent
Acceptable Monthly Rent
60
50
40
30
20
10
29 57 13 1
0
6000-8000 8000-12000 12000-20000 above 20000
Interpretation
From the graph and table, it can be observed that 57% of the respondent can spend
8000 to 12000.
We can infer that if the rented place provides good amenities nearby work
location, millennial are ready to spend 8000-12000 monthly on rent

Table 11 Showing Extent of Room Sharing
Extent of Sharing No of Percentage

Room Respondent
Yes 26 26
May Be 22 22
No 52 52
Total 100 100
Graph 11 Showing Extent of Room Sharing
Extent of Sharing Room With Strangers
60
52
50
40
30 26
22
20
10
0
yes May be Not at all
Interpretation
From the graph and table, it can be observed that 74% of the respondents (52%
say No and 22% says may be) are hesitant to share their room with unknown
people.
We can infer that people want to stay privately so that no one can disturb them and
they can stay at their own convenience.

Table 12 Showing Room Dimension to Stay on Rent
No of
Room Dimension Respondents Percentage
10 feet x 10 feet =100 sqft 5 5
12 feet x 10 feet=120 sqft 31 31
Total 100 100
Graph 12 Showing Room Dimension to Stay on Rent
Minimum Room Dimension for Comfortable Stay on Rent
15 feet x 10 feet=150 sqft 10
10 feet x 10 feet =100 sqft 5
0 10 20 30 40 50 60
Interpretation
From the graph and table, it can be observed that respondents are looking for a
room space of 140 sqft to stay comfortably.
We can infer that 140sqft of room is spacious and comfortable for millennials.

Table 13 Showing Awareness Level about Co-Living Spaces
Awareness About Co-living No of Percentage

Spaces Respondents
Yes 83 83
No 17 17
Graph 13 Showing Awareness Level about Co-Living Spaces
Awareness About Co-living Spaces
No
17%
Yes
83%
Interpretation
From the graph and table, it can be observed that 83% of the respondents are
aware of emerging concept of co living spaces in metro cities.

Table 14 Showing Interest to Stay in Co Living Spaces
No of
Co-living for Stay Respondents Percentage
Yes 69 78.41
No 19 21.6
Total 88 100
Graph 14 Showing Interest to Stay in Co Living Spaces
Co-Living to stay on rent
No
22%
Yes
78%
Interpretation
From the graph and table, it can be observed that 78.41% respondents are planning
to stay in co living space.
We can infer that co living spaces are providing good services to the youngsters
and meeting their expectations and people have positive views about the co living
concept.

Table 15 Showing View about Kitchen in Co- Living
View About Kitchen in No of Percentage

Co- Living Respondents
Attached kitchen in every room 24 27.6
Common kitchen and dining for 72.4
all the residents 63
Total 87 100
Graph 15 Showing View about Kitchen in Co- Living
View About Kitchen in Co- Living Spaces
28%
Attached kitchen in every
room
Common kitchen and
dining for all the residents
72%
Interpretation
From the graph and table, it can be observed 72.4% of the respondents are looking
for common kitchen and dining
We can infer that they don’t want to cook themselves as they want to concentrate
on their work.

Table 16 Showing Interest to Buy Co Living Space
Will you Purchase Co-Living No of Percentage

Spaces Respondents
Yes 36 41.9
No 15 17.4
May Be 15 17.4
Not right Now 20 23.3
Total 86 100
Graph 16 Showing Interest to Buy Co Living Space
Decision Regarding Purchase of Co-Living Spaces

40
36
35
30
25
20
20
15 15
15
10
5
0
Yes No May Be Not right Now
Interpretation
From the graph and table, it can be observed around 41.9% of respondents are
interested in buying a co-living space .23.3% respondent said they are not
interested in buying right now but will consider in future as it is a new concept.
We can infer that youngsters are looking to buy a co living space as an asset
whose value will appreciate in future.

Table 17 Showing Price Range to Purchase Co-Living Spaces
Particulars No of Percentage
respondents
4 lakhs -5 lakhs 19 22.35
5 lakhs- 6 lakhs 42 49.41
6 lakhs -7 lakhs 22 25.88
7 lakhs- 8 lakhs 2 2.35
Total 85 100
Graph 17 Showing Price Range to Purchase Co-Living Spaces
Price range to purchase a room in Co -Living Space for an area

of about 120 square feet
7 lakhs- 8 lakhs 2.35%
6 lakhs -7 lakhs 25.88%
5 lakhs- 6 lakhs 49.41%
4 lakhs -5 lakhs 22.35%
0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00%
Interpretation
From the graph and table, it can be observed 49.41% of the respondent can afford
5 lakhs to 6 lakhs to buy a room in co living space.

Table 18 Showing Reasons Not To Consider Co-Living for Stay
Particulars No of respondents Percentage
Hearing it for the 1st time 8 33.33
It’s a new concept, will think about it in future 8 33.33
I don’t like sharing 2 8.33
Rent is high 3 12.50
Room space is less for my requirement 2 8.33
Any other reason 1 4.17
Total 24 100
Graph 18 Showing Reasons Not To Consider Co-Living for Stay
Reason not To Consider Co- Living Spaces To Stay On Rent
33.33% 33.33% 8.33% 12.50% 8.33% 4.17%
Hearing it for It’s a new I don’t like Rent is high Room space is Any other
the 1st time concept, will sharing less for my reason
think about it in requirement
future

Interpretation
From the graph and table, it can be observed that co-living as a new concept is
preventing people from considering it as an option for rent i.e. out of 100
respondents 24 people were hesitant to stay in co- living as they heard it for the 1st
time and few felt it’s a very new concept to consider.

CHAPTER 11
HYPOTHESIS TESTING

Hypothesis Testing
Notations
SS = Sum of the square
df = degrees of freedom
MS = Mean square
F = F Ration
Sig = calculated value
α = level of significance (0.05)

Hypothesis: 1
HO: There is no significant relationship between the age group of the
respondent and current housing situation
H1: There is significant relationship between the age group of the respondent
and current housing situation
ANOVA
How satisfied are you with your current housing situation
Sum of df Mean F Sig.
Squares Square
Between 1.928 3 .643 .464 .708

Groups
Within 132.982 96 1.385
Groups
Total 134.910 99
The p value obtained from one way anova test is .708, the p value is greater than
the significance level α=0.05, since the value is more than 0.05, the hypothesis is
accepted, so There no is significant relationship between the age group and
current housing situation.

Hypothesis: 2
HO: There is no significant relationship between the age group of the
respondent and present place of stay
H1: There is significant relationship between the age group of the respondent
and present place of stay
ANOVA
Where are you presently staying

Squares Square
Between 4.208 3 1.403 .782 .507

Groups
Within 172.232 96 1.794
Groups
Total 176.440 99
accepted,so There is no significant relationship between the age group and
present place of stay

Hypothesis: 3
HO: There is no significant relationship between the professional status of the
respondent and buying of Co-living spaces
H1: There is a significant relationship between the professional status of the

respondent and buying of Co-living spaces
ANOVA
Would you like to buy the room in co-living spaces as an asset
Squares Square
Between 1.360 3 .453 .296 .828
Groups
Within 125.442 82 1.530
Groups
Total 126.802 85
accepted, so There is no significant relationship between the professional
status and buying of Co-living spaces

CHAPTER 12
SUMMARY OF FINDINGS

Key Findings
 Most of the respondents are working professionals and remaining is either

students or graduate searching for jobs.(Table 4)
 70% of the respondents were staying in PG or rented apartments and most
of them were immigrants from other places and most of them were single
and working professionals.(Table 5)
 It can be observed that 55% of the respondents are somewhat dissatisfied
with their present place of stay. It was found that their living expectations
are not met with their present housing condition and they are looking for a
better housing conditions.(Table 6)
 The study showed that 50% of the respondents use social media to search
house for rent and the next 38% respondents use word of mouth or friends
opinion when they are looking to stay on rent. (Table 7)
When asked about the factors they consider while choosing to stay on rent it was
found that (refer Table 8)
o 69% respondents are looking for high quality amenities

o 77% respondents are looking for a place which provides all inclusive
rent i.e. House rent, electricity bill, water bill, maintenance etc. We can
infer that they are looking for hassle free living as they want to
concentrate on their work
o 56 % of the respondents strongly agree and 32% agree that they looking
for a place where they can meet new people and socialize .This shows
that at their present place of stay , they are not getting the opportunity to
mingle with others which a co- living product strongly encourages

o 41% respondents want to stay peacefully and don’t want the house
owner to disturb them.
o 92% respondent want to stay near to their workplace or college .we can
infer that they don’t want to spend their time in travelling for commute
from their residence
o 90% respondents are looking Affordable Rent and Security Deposit. We
can infer presently house rent and security deposits are very high in
comparison to the amenities provided.
When asked about the amenities and services they want in a place where they stay
it was found (refer table 9)
o For 59 % respondents, Housekeeping and Laundry facilities are of moderate

importance. We can infer that respondent can do their household work
themselves
o For 46 % respondents, CCTV and security guard are important when are
looking to stay on rent .For 40% respondents security is moderately
important
o For 67 % respondents, kitchen and dining area is must to have when they
want to stay on rent
o For 73 % respondents, Wi-Fi is of less importance when they want to stay
on rent. We can infer that Wi-Fi is not mandatory service as the internet
packages are very affordable. It’s a misconception among house owners
that Wi-Fi will attract tenants
o For 62 % respondents, vehicle parking facility is of paramount importance
while searching for staying on rent.

o For 70 % respondents, swimming pool and gym are important while

searching for staying on rent. We can infer that youngsters are health
conscious want all amenities in the society
o For 84 % respondents, interaction and hangout zones are very important
while searching for staying on rent. We can infer that they want to socialize
and interact with new people as they are away from home in a new city.
o For 51 % respondents, garden is of moderate importance when they are
staying on rent.
 The study found that 57% of the respondent does not mind spending 8000
to 12000 rupees to stay on rent (Table 10)
 74% of the respondents are hesitant to share their room with unknown
people and hence they would prefer staying in a private room(Table 11)
 The study found that respondents are looking for a room space of 140 sqft
to stay comfortably (Table 12)
 It was found that 83% of the respondents are aware of emerging concept of
co living spaces in metro cities (Table 13).
 It was be learned that 78.41% respondents are planning to stay in co living
spaces(Table 14)
 The study found that 72.4% of the respondents are looking for common
kitchen and dining (Table15)
 41.9% of respondents are interested in buying a co-living space .23.3%
respondent said they are not interested in buying right now but will consider
in future as it is a new concept(Table 16)
 The study found that 49.41% of the respondent can afford 5lakhs to 6lakhs
to buy a room in co living space(Table 17)

CHAPTER 13
SUGESSTIONS

Suggestions
From the research we can develop a marketing mix for the Co- Living
PRODUCT
Private Rooms of dimension 140 square feet for comfortable stay and the
following amenities in common areas
 Vehicle Parking
 Housekeeping and Laundry facilities
 CCTV Cameras
 Kitchen/Dining Area
 Swimming Pool And Gym
 Interaction And Hangout zone
PLACE
Urban areas nearby to corporate offices, educational institutions, shopping centres
PRICE
 Rental prices range from 8000-12000 rupees

 To purchase a room in co living space it should be priced in the range of 5
lakhs to 6 lakhs
PROMOTION
 To market the housing products to youths companies should have a

presence on social media be it Facebook , Instagram , Twitter ,and Youtube

 Since millennials go by word of mouth or friends opinions companies

should provide best product and excellent customer service i.e. they should
run loyalty programs and referrals to their existing customer base.
 Co-Living operators should give transferable memberships as millennial
moves from one city to another
 Should collaborate with companies as companies and lease them
accommodation for their outstation employees
 For developers struggling to sell their unsold inventory can give their
apartment to co living operators and can earn good rental yields
 Unorganized players in the paying guest accommodation segment can learn

from their mistakes and venture into the co-living space in partnership with
established operators
 While the concept is rapidly being institutionalized by organized players,

this does not mean that there is no scope for individual players. By
converting a normal apartment of sufficient size into a co-living space, a
property owner can capitalize on this vibrant and growing trend in rental
housing.

CHAPTER 14
CONCLUSION

Conclusion
 It can be concluded that Co- Living Spaces are growing rapidly in metro
cities as job and educational opportunities are huge.
 People who are considering Co- living Space for their stay are people in the
age group of 20-35 years and these are mostly working professionals and
college students.
 Those who are looking to stay on rent can consider co- living as an option
for their stay as it provides added benefits apart for stay like access to high
quality amenities and platform to interact and socialize with others
 It is cost effective solution to those who are looking for hassle free living in
a city
 Co-Living may offer a higher rental yield of as much as 8-11%, as
compared to the current average yield of 1-3% in residential properties. It is
definitely paving the way for a new asset class in real estate investing.
Interestingly, co-living spaces can also bring down the average cost of
living for consumers by as much as 10-15% on the back of optimal real
estate utilization and the economies of scale
 Most of the people use social media to search house when they want to stay
on rent and hence Co-living operators are having presence on Facebook ,
LinkedIn ,instagram and they keep engaging their target audience in
contests.

CHAPTER 15
LEARNING EXPERIENCE

Learning Experience
Working at Sobha limited, Bangalore was a great experience. It has given me an

exposure into real estate industry, various types of rules and regulation of these
construction company as at present real estate has become organised and as well
the sales and marketing process followed by them. In this course of the study, I
have learnt in detail about:
 The company’s terms, conditions and policies for an employee to sustain

 The company’s products in detail
 Addressing individual’s common ethical problems, code of ethics and
standard of practice.
 RERA act (Real estate regulation and development act)
 Conducted the site visits for all the on-going projects of Sobha limited
 Jordan Belfort sales techniques
 Trained as guest relationship executives (interaction with the customers
and taking them to visit the sites
 Walkthrough process ( explaining the customer about the flat miniatures
and model flats)
The complete 10 weeks tenure of internship has been a practice session of learning
and which I am sure is going to help me in future also. The important point that I
learnt during my internship is to work hard, to talk to co-workers in professional
manner, to take on the work as much as I can, to speak up things and to follow the
superiors at work.

CHAPTER 16
BIBLIOGRAPHY AND ANNEXURE

Bibliography
Research papers
 Co-Living: A Solution to the Housing Crisis? By Scott Corfe ISBN: 978-

1-910683-576
 Co -living: Rent a Lifestyle by Knight Frank India Research
 The Logistics of Harmonious Co-living: Exploring contemporary co-living
through design interventions Master By George Green
 Implementing Innovation in Real Estate Development: Co-Living as an
Innovative Product by David S. Drobnis Bachelor of Architecture, 2004
 Co-Living and the Common Good by Atif Shafiqu ,March 2018
Website
 www.forbes.com
 www.housing.com
 www.99acres.com
 www.proptiger.com
 http://realtyplusmag.com
 www.thehindubusinessline.com
 www.jll.co.in
 www.moneycontrol.com
 www.indiatoday.in
 https://economictimes.indiatimes.com
 yourstory.com

Annexure
Questionnaire
Name:
__________________________________________________________________
1. What’s your age group?

a) 18-25 b) 25-30 c) 30-40 d) above 40
2. What’s your gender?
a) Male b) female
3. Marital status?
a) Single b) married c) divorced d) unmarried / living together
4. What’s your professional status?
a) Working professional b) own business / freelancer c) student
d) out of job or looking for job
5. Where are you presently staying?
a) PG
b) Hostel
c) Staying on rent in an apartment
d) Own house
e) Relatives / friend’s house
6. How satisfied are you with your current housing situation

a) Very satisfied b) somewhat satisfied c)neutral d) Somewhat dissatisfied
e) Very dissatisfied

7. From the below listed option, which medium you prefer while
searching for staying on rent?
a) Social media
b) Company website
c) Word of mouth
d) TV / radio/newspaper
8. Which of the following statements do you agree towards while searing

for stay on rent?
Particulars Strongly Agree Neutral Disagree Strongly

Agree Disagree
Access to high quality
amenities
All inclusive rent
Ability to meet new people
and socialize
No disturbance from house
owner
Near to workplace /college
Affordable rent and

security deposit
Less housework
/maintenance

9. How important are the following amenities/services when you want to

stay on rent?
Amenities Very Important Moderately Less Not at all

/services important important important important
Housekeeping
and Laundry
facilities
CCTV camera
and security
guards
Kitchen/dining
area
Superfast Wi-Fi
Mini theatre
Swimming pool ,
Gym
And indoor
games
Community
center and
hangout zone
Garden

10.If all the above amenities selected by you are provided ,how much can
you afford for staying on rent
a) 6000-8000 b)8000-12000 c)12000-20000 d)above
20000
11.To what extent you are comfortable in sharing your room with
strangers
a) High b) Medium c) low d) not at all
12.What is the minimum room area requirement to stay comfortably on

rent?
A) 10 feet x 10 feet =100 sqft
B) 12 feet x 10 feet=120 sqft
C) 14 feet x 10 feet=140 sqft
D) 15 feet x 10 feet=150 sqft
13.Are you aware of co living space

a) Yes
b) No
If yes then
14.What’s your view about kitchen and dining in co living spaces?

a) Attached kitchen in every room
b) Common kitchen and dining for all the residents
15.Would you like to buy the room in co living spaces as an asset for your
future?
a) Yes b) no c) not right now d) maybe
16.What is the price you can afford to purchase a room in co living space
for an area of about 120 square feet?
a) 4lakh – 5lakh
b) 5 lakh- 6lakh
c) 6lakh -7 lakh
d) 7-lakh- 8 lakh

17.What is stopping you considering co- living spaces to stay on rent?

a) Hearing it for the 1st time
b) It’s a new concept, will think about it in future
c) I don’t like sharing
d) Rent is high
e) Room space is less for my requirement
f) Any other reason
Please specify
_______________________________________________________

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A Study on Market Potential of Growing Co-Living Spaces

Department of Management Studies, RIT Bangalore Page 1

The research is undertaken to understand the awareness among millennials about

Department of Management Studies, RIT Bangalore Page 2

Department of Management Studies, RIT Bangalore Page 3

Department of Management Studies, RIT Bangalore Page 4

Definition of Co-Living Spaces

“Co-Living Spaces refers to housing models where individuals have a private

Department of Management Studies, RIT Bangalore Page 5

interaction and supporting the development of active communities in which

The idea of co-living is to create a community-centred environment that not only

Principle of co-living spaces

All the Co-Living spaces are based on principle of 4C’s

Co-living operators are efficiently using the underutilised space. Economies of

Department of Management Studies, RIT Bangalore Page 6

Department of Management Studies, RIT Bangalore Page 7

Characteristics of Co-Living Spaces

Technology -driven easy living

Technology is a prerequisite for today’s youth to manage their lifestyle. Co-living

Privacy amidst communality

Co-living space providers supply wider infrastructure of civic participation,

Department of Management Studies, RIT Bangalore Page 8

Hassle free accommodation

Co-living’s economics for millennials

Department of Management Studies, RIT Bangalore Page 9

Typical Co-Living Space Diagram

Department of Management Studies, RIT Bangalore Page 10

Department of Management Studies, RIT Bangalore Page 11

Basically, “Co-Living Space is a rental housing concept wherein fully furnished

Department of Management Studies, RIT Bangalore Page 12

Department of Management Studies, RIT Bangalore Page 13

Statistics showing huge potential for co-living spaces industry in

 According to prop tiger ,Co -living spaces industry in India is estimated at

Department of Management Studies, RIT Bangalore Page 14

Types of co-living models in India

Lease and operation

However, if the co-living operator makes a capital investment in the co-living

Full ownership and management of operations

This is a co-living model in which property owners convert, reposition and

Department of Management Studies, RIT Bangalore Page 16

Department of Management Studies, RIT Bangalore Page 17

Headquartered in Bangalore, SOBHA is primarily focused on residential and

Department of Management Studies, RIT Bangalore Page 18

The backward integration model is one of the key competitive strengths of

Department of Management Studies, RIT Bangalore Page 19

As a responsible corporate citizen, SOBHA’s CSR activities encompass the areas

SOBHA as an organisation is highly focused on delivering international quality

Mission- No shortcuts to quality

Vision- Transform the way people perceive quality

Tag line- Passion at work

Department of Management Studies, RIT Bangalore Page 20

Department of Management Studies, RIT Bangalore Page 21

SOBHA’s residential projects include presidential apartments, villas, row houses,

SOBHA is present in 9 cities namely Bangalore, Mysore, Pune, Chennai,

 Aspirational homes may range from 45-75 lakhs ,

Department of Management Studies, RIT Bangalore Page 22

Department of Management Studies, RIT Bangalore Page 23

Precast is a latest construction which brings efficiency and saves time

Department of Management Studies, RIT Bangalore Page 24

Strategy is a plan which will be developed by SOBHA developers to achieve

Department of Management Studies, RIT Bangalore Page 25

Department of Management Studies, RIT Bangalore Page 26

The training which is provided by the SOBHA developers to the employees