Project Report For Paying Guest
Project report for Paying Guest is as follows.
The Indian market, which is worth $200 billion globally, is likely to develop dramatically over the next decade. At first, look, providing student accommodation appears to be an unusual choice for a wealth-building strategy. After all, most students who enrol in professional courses pay a fortune for the course itself, with the tuition cost and capitation fee/donation usually depleting their parents’ finances.
Their living conditions during the four- or five-year term are rarely regarded as important. More often than not, college hostel accommodations are taken for granted. But that may be changing, and quickly. As the demand for higher education grows, institutions are sprouting up all across the country.
For a long time,’ student living,’ which is equivalent to a working professional renting an apartment in a large city, has been a substantial market. The demand is always strong, and the supply…well, you get the picture. However, in every market of this size, someone would see the need to organise it and maximise the potential sooner or later.
And, like with other unorganised industries today, startups are attempting to transform it. Higher education institutions have around 34 million students, and the unmet demand for student accommodation remains as high as 30 – 60 per cent
Market potential & Strategy
The Indian market, which is worth $200 billion globally, is likely to develop dramatically over the next decade. Based on statistics on student debts, capacity shortages, and parents’ increased willingness to pay, the student living industry is predicted to grow to 160-180 billion.
What was formerly a collection of run-down, semi-furnished, low-cost houses has been turned into trendy urban service flats for students. The goal is to close the gap between what people desire and what they receive. The sector is now less than five years old, with the majority of businesses starting operations in 2015-16.
In truth, most businesses are still slugging it out in their home bases, yet growth is unavoidable. India is now a small portion of that industry, but it is likely to increase dramatically over the coming decade. Similar facilities are being constructed and sponsored by high-net-worth individuals through alternative investment funds.
Student mobility among states is rising as students relocate to other regions in quest of higher education, putting pressure on the limited facilities provided on campuses or those offered outside as paid guest lodging. The rooms are not always suitable or well-maintained, which is increasing demand for better facilities. As the need for higher education grows, colleges have sprouted up all across the nation, frequently in clusters or hubs, in locations like Noida, Indore, Jaipur, Pune, Bengaluru, Chennai, Coimbatore, and Lucknow, as well as other key tiers 3, tier 4 cities in India.
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