India Rental Housing Market [2018-2028] Analysis by Share, Trends, demands, Forecast

Summary

Report Description

The India rental housing market is expected to grow at an impressive rate during the forecast period. The growing influx of migrants from non-metro cities to metro cities for occupational and educational purposes is driving the India rental housing market. This has significantly increased the demand for affordable rental spaces near workplaces or educational institutions. This has also given rise to the concept of co-living. Furthermore, rising land, house, and flat prices, particularly in Tier 1 cities, are expected to drive market growth through2028. Furthermore, those who have the resources and can afford houses or land may not get appropriate investment opportunities and thus prefer to live in rented housing, fueling the market growth.

The India rental housing market is segmented based on type, property type, size of unit, location, company, and region. Based on type, the market can be split into standalone spaces and society based. Among these, the society based segment is expected to dominate the market on account of their affordability, accessibility to everyday necessities, security, proper parking facilities, availability of other amenities like gymnasium, swimming pool, among others. Based on location, the market can be split into metro and non-metro. Here, the metro segment is expected to dominate the market owing to the increasing working and student population in these cities who prefer to live in a co-living space or rented apartments. All migrant populations have access to rental housing, which is a practical and affordable choice for those who may not want to commit to a long-term financial commitment in a city. The rising demand for housing in nations that are urbanizing, like India, is best met by this readily accessible option. Renting a home is a better option for tenants of all income levels because it provides greater mobility and flexibility to the migrant population, particularly in cities with high capital values.

Major players operating in the India rental housing market include Nestaway Technologies Private Limited, Zolo Stays, ZiffyHomes, OYO Life, CoHo, Stanza Living Company, Grexter, Housr Technologies Pvt Ltd, Stayabode Ventures Private Limited, SimplyGuest and others. The companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.

Increase in government policy initiatives for real estate and construction sector
In the last two decades, India has experienced rapid urbanization. Over 29% of India's population lived in cities in 2001, rising to around 35% a few years later. By 2030, it is expected that more than 40% of India's population will live in cities. Rapid urbanization increases demand for more residential units, both rental and ownership. It is also seen a distinct shift in preference among the younger generation, from ownership to renting, as many people do not want to be locked into long-term mortgages. Work-related mobility has hastened the transition from ownership to rental even more. In terms of volume, the housing segment in India accounts for a sizable portion of the real estate and construction sector. Recognizing the growing importance of this segment, the government has announced several policy initiatives and reforms to give it a much-needed boost. The Pradhan Mantri Awas Yojana (PMAY) scheme, the Real Estate Regulator Act, and the impetus to the Affordable Housing Segment are the key reforms that have increased estate and construction sector. Despite a slowing market in recent years, demand for housing in India continues to rise.

Emergence of the concept of co-living
The co-living market has sparked considerable interest among investors. With many graduates, postgraduates, and working professionals in urban areas, India is an ideal launchpad for the exciting trends that are emerging in this market segment. Operators have begun to prefer built-to-suit models that provide customers with a holistic community experience. However, the nascent market is expected to ride out the pandemic with trepidation, emerging stronger on the other side. Consolidations and mergers and acquisitions by more organized players are likely in a post-pandemic world, resulting in market expansion.

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Market Segmentation

India Rental Housing market is segmented based on type, size of unit, property type, location, region and competitive landscape. Based on Type, the market can be segmented into Standalone Spaces, Society Based. By Size of Unit, the market is segmented into Up to 400 square feet, 400-800 square feet, above 800 square feet. Based on Property Type, the market is further split into Fully Furnished, Semi-Furnished, Unfurnished. By Location, the market can be segmented into Metro, Non-Metro.

Market Players

Major market players in the India Rental Housing Market are Nestaway Technologies Private Limited, Zolo Stays, ZiffyHomes, OYO Life, CoHo, Stanza Living Company, Grexter, Housr Technologies Pvt Ltd, Stayabode Ventures Private Limited, SimplyGuest and others.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	Type Property Type Size of Unit Location Region
Country Scope	North India, South India, East India, West India
Key companies profiled	Nestaway Technologies Private Limited, Zolo Stays, ZiffyHomes, OYO Life, CoHo, Stanza Living Company, Grexter, Housr Technologies Pvt Ltd, Stayabode Ventures Private Limited, SimplyGuest and others
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, the India Rental Housing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

· Rental Housing Market, By Type:

o Standalone Spaces

o Society Based

· Rental Housing Market, By Size of Unit:

o Up to 400 square feet

o 400-800 square feet

o Above 800 square feet

· Rental Housing Market, By Property Type:

o Fully Furnished

o Semi-Furnished

o Unfurnished

· Rental Housing Market, By Location:

o Metro

o Non-Metro

· Rental Housing Market, By Region:

o North India

o South India

o East India

o West India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Rental Housing Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

India Rental Housing Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customer

4.1. Brand awareness

4.2. Factors considered while selecting supplier

4.3. Key satisfaction level

4.4. Major challenges faced

5. India Rental Housing Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type (Standalone Spaces and Society Based)

5.2.2. By Size of Unit (Up to 400 square feet, 400-800 square feet, above 800 square feet)

5.2.3. By Property Type (Fully Furnished, Semi-Furnished, Unfurnished)

5.2.4. By Location (Metro and Non Metro)

5.2.5. By Region

5.2.6. By Company (2022)

5.3. Market Map

5.3.1 By Type

5.3.2 By Size of Unit

5.3.3 By Property Type

5.3.4 By Location

5.3.5 By Region

6. North India Rental Housing Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type

6.2.2. By Size of Unit

6.2.3. By Property Type

6.2.4. By Location

7. South India Rental Housing Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type

7.2.2. By Size of Unit

7.2.3. By Property Type

7.2.4. By Location

8. West India Rental Housing Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type

8.2.2. By Size of Unit

8.2.3. By Property Type

8.2.4. By Location

9. East India Rental Housing Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type

9.2.2. By Size of Unit

9.2.3. By Property Type

9.2.4. By Location

10. Market Dynamics

10.1. Drivers

10.1.1. Increase in migrants from non-metro cities to metro cities

10.1.2. Increase in the demand for affordable rental spaces in the proximity of the working spaces or educational institutions

10.1.3. Rising cost of home ownership

10.2. Challenges

10.2.1. Landlord and tenant dispute

10.2.2. Rental Agreement

11. Market Trends & Developments

11.1. Emergence of the concept of co-living

11.2. Increase in developments by key industry players

11.3. Rapid Urbanization

11.4. Growth of estate and construction sector

11.5. Increase in government initiatives and schemes

12. Competitive Landscape

12.1. Nestaway Technologies Private Limited

12.1.1. Business Overview

12.1.2. Product Offerings

12.1.3. Recent Developments

12.1.4. Financials (As Reported)

12.1.5. Key Personnel

12.2. Zolo Stays

12.2.1. Business Overview

12.2.2. Product Offerings

12.2.3. Recent Developments

12.2.4. Financials (As Reported)

12.2.5. Key Personnel

12.3. ZiffyHomes

12.3.1. Business Overview

12.3.2. Product Offerings

12.3.3. Recent Developments

12.3.4. Financials (As Reported)

12.3.5. Key Personnel

12.4. SimplyGuest

12.4.1. Business Overview

12.4.2. Product Offerings

12.4.3. Recent Developments

12.4.4. Financials (As Reported)

12.4.5. Key Personnel

12.5. OYO Life

12.5.1. Business Overview

12.5.2. Product Offerings

12.5.3. Recent Developments

12.5.4. Financials (As Reported)

12.5.5. Key Personnel

12.6. CoHo

12.6.1. Business Overview

12.6.2. Product Offerings

12.6.3. Recent Developments

12.6.4. Financials (As Reported)

12.6.5. Key Personnel

12.7. Stanza Living Company

12.7.1. Business Overview

12.7.2. Product Offerings

12.7.3. Recent Developments

12.7.4. Financials (As Reported)

12.7.5. Key Personnel

12.8. Grexter

12.8.1. Business Overview

12.8.2. Product Offerings

12.8.3. Recent Developments

12.8.4. Financials (As Reported)

12.8.5. Key Personnel

12.9. Housr Technologies Pvt Ltd

12.9.1. Business Overview

12.9.2. Product Offerings

12.9.3. Recent Developments

12.9.4. Financials (As Reported)

12.9.5. Key Personnel

12.10. Stayabode Ventures Private Limited

12.10.1. Business Overview

12.10.2. Product Offerings

12.10.3. Recent Developments

12.10.4. Financials (As Reported)

12.10.5. Key Personnel

13. Strategic Recommendations

13.1.1. Focus on partnerships and collaborations

13.1.2. Focus on expansion through strategies and development

13.1.3. Focus on innovations

14. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What are the major drivers for the India Rental Housing Market?

Increase in the demand for affordable rental spaces is expected to boost the India rental housing market.

Who are the top players operating in the India Rental Housing Market?

Nestaway Technologies Private Limited, Zolo Stays, ZiffyHomes, OYO Life, CoHo, Stanza Living Company, Grexter, Housr Technologies Pvt Ltd, Stayabode Ventures Private Limited, SimplyGuest and others are some of the leading players operating in the India Rental Housing Market.

What is rental housing in India?

Rental housing is a property occupied by someone other than the owner, for which the tenant pays the owner a mutually agreed-upon rent on a regular basis.

Which region is expected to account for the largest share of the India Rental Housing market?

South India region is expected to hold the largest share in the India Rental Housing Market due to growing and well-designed residential properties.

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Srishti Verma

Business Consultant

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Press Release

India Rental Housing Market to register an exceptional CAGR through 2028

May, 2023

Expanding gig economy and burgeoning millennial population are significant factors driving the growth of the India rental housing market during the forecast period of 2024-2028.

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