:
India: India’s coliving sector has demand for 6.6 million beds nationally, compared with existing supply of under 300,000 beds, according to a new report from hotel and branded residences advisory firm NOESIS.
The report, The Evolution of Co-Living: Market Dynamics and Investment Potential, says operators are currently serving under five per cent of the addressable market. NOESIS forecasts demand will rise to 9.1 million beds by 2031, with inventory reaching close to a million beds by 2030.
The market was valued at $US0.53 billion (₹4,000 crore) in 2025 and is projected to reach $US1.96 billion (₹20,000 crore) by 2031, a compound annual growth rate of 24.34 per cent.
On a city level, Bengaluru is the best supplied market, with demand of 50,000 beds compared with 18,000 to 22,000 supplied. Hyderabad is next best with demand of 25,000 beds and supply of 5,000 to 7,000 beds, followed by Pune with demand of 25,000 beds and supply of 7,000 to 9,000 beds. Mumbai has the highest single-city demand at 72,600 beds, which NOESIS describes as severely supply-constrained. Delhi NCR accounts for around 17 per cent of national demand.
NOESIS attributes demand to three drivers: office and Global Capability Centre expansion (83.3 million square feet of gross office leasing in 2025, with GCCs accounting for 31.4 million square feet of that); higher education, where campus housing meets only a third of a 12 million-bed requirement across 45 million students; and industrial employment, with more than 4,500 industrial parks nationally.
Nandivardhan Jain, founder and chief executive of NOESIS, said: “India keeps calling this a real estate opportunity. It is not. Coliving is an operating business that happens to occupy a building, and it behaves like one.”
Vijay Bhandari, chief operating officer, said the operational challenge is retention of margin, not occupancy: “Occupancy is not the hard part. Holding 92 per cent occupancy while keeping the expense ratio below 70 per cent is the hard part, and that is where most operators lose the asset.”
Highlights:
- India’s coliving sector has demand for 6.6 million beds nationally, compared with existing supply of under 300,000 beds
- NOESIS forecasts demand will rise to 9.1 million beds by 2031, with inventory reaching close to a million beds by 2030
- The market was valued at $US0.53 billion (₹4,000 crore) in 2025 and is projected to reach $US1.96 billion (₹20,000 crore) by 2031, a compound annual growth rate of 24.34 per cent.
- On a city level, Bengaluru is the best supplied market followed by Hyderabad and Pune
