Project report for PG accomodation
Project report for Paying guest service is as follows
Worth $200 bilion globally, the market in India is expected to grow significantly over the next decade,Providing student housing would seem at first glance to be an odd choice as a wealth-building option.After all, most students entering professional courses pay a bomb for the course itself — with the tuition fee and the capitation fee/donation frequently draining out the resources of their parents.Their stay arrangements during the four-/five-year course is seldom seen as warranting much attention. More often, a hostel accommodation at the college is taken for granted. But that may be changing and fast.As the demand for higher education increases, colleges have been mushrooming across the country.
‘Student living’, quite similar to a working professional renting an apartment in a big city, has been a sizable market for a while. The demand is always high and the supply...well. But for any market of this sort, sooner or later there will be people who recognise the need to organise it and optimise the opportunities.And as is with most unorganised sectors today, there are startups trying to change it. There are approximately 34 million students in higher education institutions and the unmet demand for student housing remains as high as 30% – 60?ross the top states
Product / Services & process
To provide well maintained, hygienic and affordable paying guest facility to students and working professionals.
Market potential & Strategy
Worth $200 bilion globally, the market in India is expected to grow significantly over the next decade.The student living market is expected to rise to ?160-180 billion, based on data on student loans, capacity shortage and parents’ growing willingness to spend. What was once a series of shoddy, semi-furnished, cheap homes, has now transformed to swanky urban service apartments for students. The idea is to bridge the gap between what people want and what they get. The industry is less than five years old right now with most companies having begun operations around 2015-16. In fact, most companies are still battling it out in their home bases, but expansion is inevitable.India is still a fraction of that market now but is expected to grow significantly in the next decade. Similar facilities are being built and financed by high networth investors through alternate investment funds.There is increasing student mobility across States as they migrate to different places in search of better education and the numbers are placing a strain on the limited facilities that are available on campuses or those available outside as paying guest accommodation. The rooms are not always adequate or well-maintained — and this is leading to higher demand for improved facilities.As the demand for higher education increases, colleges have been mushrooming across the country, often in a cluster or a hub, across places such as Noida, Indore, Jaipur, Pune, Bengaluru, Chennai, Coimbatore and Lucknow and other major tier 3, tier 4 cities in India.