India, May 8 -- The coliving segment is set to add one million beds by 2030 in India, up from around 0.3 million beds currently, according to a report by Colliers India.

The sector's resurgence is being fueled by urbanization and migration to cities, especially amongst students and young professionals who continue to seek flexible, relatively affordable, community-driven, and hassle-free housing options.

Currently, the coliving sector has an inventory of around 3 lakh beds, making up only about 5% of the total penetration. As the inventory is set to reach close to 1 million beds by 2030, penetration rates can significantly improve from 5% to over 10% by the end of the decade, the report said. Coliving penetration represents the ratio of...