Assessing the impact of covid 19 on student rental housing

Abstract

India prides itself with the world’s youngest population comprising 18% of the 1.3 billion world population aged between 15 to 24 years of age. The Indian Government targeted to enrol 30% of the total population aged between 18 to 23 years in higher education by 2020. Therefore, the associated facilities such as the student housing sector also needs to be developed proportionately. The overall investment in the student housing sector is driven by the huge demand supply gap, high returns as well as low risks due to the lower churning rates that lead to a stable cash flow. However, the concept of student housing is still evolving in India as well as the Covid-19 disease has impacted each and every sphere of human life directly or indirectly. Student housing has also been impacted on various levels, leaving the stake holders to cope in one or the other way. This research aims to study the impact of Covid-19 on unorganized segment of the student housing i.e., the business to consumer (B2C) sector in Kanpur city of Uttar Pradesh. Kanpur has a high student population due to various institutes of national and regional importance including IIT, GSVM, HBTU, PSIT, Kanpur University, Rama University, etc. The study is initiated by exploring student housing in various cities across the country as well as on global level and the best practices followed. We then proceed to identify the various pockets of student housing in Kanpur followed by identifying the various stakeholders involved. We then attempt to understand the market segregation and post Covid scenario of student housing in 2 selected wards i.e., ward 30 (Kakadeo) and 61 (Nawabganj). The study talks about the demand and supply sides of the market and assess the impact Covid had on respective stakeholders on either side of the market. The study is concluded by suggesting provisions for the entry of organised players into an unorganised student housing market like Kanpur.