PUNE: Pune: Aishwarya Kamble moved to Pune from Kolhapur last year to attend MPSC coaching classes.
"I was paying Rs 6,000 for a double-sharing paying guest accommodation in Shivajinagar. Now, they are planning to increase the rent. Rents in newer buildings are as high as Rs 10,500 for a room with triple occupancy. It's becoming very expensive for students like me," the 23-year-old said.
Student housing rentals in key education hubs like Pune, Mumbai, New Delhi, Bengaluru, and Hyderabad have shown an upward trajectory over the last two years. Real estate consultants peg the average rental increase over the last year for student housing in the range of 10-15%.
"If we look at the overall demand in the country before the pandemic, of the 36 million students pursuing higher education in the country (growing at a CAGR of over 9%), more than 75% of students lived outside their homes. The existing hostel facilities can accommodate only 18-20% of the migrant student population. Hence, there is a huge untapped potential for student accommodation in the country. As per data, student housing demand is for more than 10 million beds in the top cities," Santhosh Kumar, vice-chairman, ANAROCK Group, said.
Dhananjay Shete, who runs a PG facility on Senapati Bapat Road, said that their facility accommodates 14 girls who are staying on a double occupancy basis. "We charge Rs 7,000 per person and as of now we don't plan to revise it. Occupancy-wise we are usually full," Shete said.
Meena Kumari from Hyderabad, whose daughter is doing her undergraduate studies in Pune, said not many colleges have a large hostel infrastructure. It's on a first-come, first-serve basis.
"Students have to look for paying guest, hostels or co-living spaces in and around colleges. As parents of a 20-year-old, we worry if she will be safe in a random accommodation," she said.
Student housing is largely an unorganized sector in India, but it is slowly getting institutionalized with players offering co-living spaces in parts of the city. However, students feel these places are more expensive than hostels or private PG accommodations.
Namrata Mulik, a medical student in Pune, said that she had checked out a co-living accommodation in Karvenagar which cost Rs 13,000 to Rs 14,000 for a double occupancy room. "I am paying Rs 7,000 in a double occupancy PG where I'm currently staying," she added.
Even though co-living spaces offer free facilities such as Wi-Fi and recreational activities, students say that end up paying at least Rs 5,000- Rs 6,000 higher than a PG accommodation.
With students relying on their parents financially, the huge increase in the cost of living is putting pressure on families who are also paying hefty fees in colleges and for coaching classes.