With the high demand and excellent scope for student housing market in India, Placio recently raised pre-series ‘A’ funding from Prestellar Ventures, a Singapore-based private equity fund for US$ 2 million. The funds will provide superior student living experience in India and South-East Asia as well as redefine student hostel hospitality sector by increasing the existing capacity 20 times this year.
According to JLL report, India currently has approximately 34 million students in the higher education space, which is more than double the size of the advanced and large student housing markets in the West. Given the lack of enough supply, unmet demand for student housing is very high in India.
The student housing market is well-established in many other parts of the world. It first became an organised asset class in the USA, followed by the UK, which is often considered a benchmark in the global student housing market. Australia is another leading emerging market for student housing in the Asia Pacific region. Student housing market has evolved into a full-fledged domain and thus it has started to gain acceptance and recognition among investors in the Indian market as well. Comments Ankush Arora, co-founder, Placio, “Today, student housing is much more than just a place for the teen to sleep and study. Research shows that students who live in housing where safety is ensured tend to be more successful in their academic studies, have increased self-confidence, and develop stronger life skills compared to students who don’t. Year after year, students tell us that living in organised housing have helped them become better learners and feel like part of an inclusive community. More than basic amenities are expected from organised student housing. This means friendly and helpful staff, exceptional dining services, a modern fitness centre, quiet study lounges, laundry and housekeeping are must. All this goes into providing a comfortable environment where students can make lifelong friendships, grow as a student, and lead an academically productive lifestyle.”
Being a parent of a college student can be difficult at times. Moments of frustration and helplessness may occur but it helps to remember that this is an integral part of the valuable process your teen will undertake while establishing independence. Parents should challenge themselves to be supportive while still allowing their teen to take steps in right direction towards adulthood. Here the term is “empowerment,” which means to provide teens with the skills and resources needed to make responsible decisions.
Safety of college students is a growing concern as college life may also come accompanied with risks. Students living away from home for the first time are introduced to new environments, new experiences, and new people, and also new challenges including theft, burglaries, extortion, sexual violence, vehicle-lifting, chain-snatching and others. Being on a college campus gives a false sense of security when surrounded by your peers. After all, they’re just honest students like you.
Transitioning to college takes the teen out of their comfort zone, where they know everyone and feel safe. Here, it’s important to acknowledge and remember that you don’t always know who you can trust, even when you’re in college.
College life can be a very exciting, yet challenging, experience as it involves exploration, affirmation, and independence that lie ahead. Ideally, a three way partnership is required to help keep college students safe. Parents need to talk to their teens about safety, students need to exercise awareness and behave responsibly, and organised student housing can step in to provide a rich living environment in support of academic achievement and personal growth.