Satya Niketan building disaster & challenges in Student Accommodations in India

The recent heart-rending tragedy that struck a residential building in Satya Niketan, New Delhi, re-ignited a debate on affordable and safe accommodation for students. I feel, it is a real  challenge for bachelors/ spinsters looking for decent accommodations in India today. Having stayed in condominiums for the past two decades across geographies, I noticed a deep distrust and hesitancy in owners to rent out apartments to students or bachelors. In fact, some even advertise that their properties are only for families. ('Agents & bachelors, please excuse'). Leading to this clientele seeking sub-standard accommodations. 

I was in Indore to help my son ( a bachelor) who works with a leading Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services, and I came across YOLASPACES who provide Hostels, PGs and furnished flats in Indore. They take entire  properties on lease and rent them out to all, students-bachelors included. We rented out a premium new property (almost a flagship property for them) which came fully-furnished. All apartments in the 4-storey building are single-bedroom (drawing room & Kitchen with balcony) and occupied. Two have been reserved for Airbnb. Basic amenities include: Washing machine, geyser, AC, double bed, sofas, TV, RO water filter, semi-furnished kitchen with a brand new lift for the building.

Apart from being a profitable business model, I was pleasantly surprised to see students moving out of poorly maintained hostels and willing to live independently while focussing on studies. I came across students below or around 20 years of age. A single-bedroom fully furnished apartment costing Rs 15K + 500/- maintenance is not cheap for students. But if 2 or 3 share, it is affordable. I understand, the students in the doomed Satya Niketan building  were paying Rs 15K per bed!! With poor infrastructure and amenities. 

I am seeing a boom in West Hyderabad in Real Estate. For students, I again see poorly maintained hostel accommodations (the ones I read about frequently), with security and Hygiene issues. Large gated-communities are a no-go due to pricing or owner hesitancy. I have not come across, 'single-bedrooms-only apartments' which are well-equipped and fully-furnished. For students and bachelors who can afford, this can be a huge benefit. Let me know if you have come across this housing-concept in Hyderabad or any other cities in India which addresses needs of students, bachelors or small families. 

The Satya Niketan building which collapsed was opposite the area where I stayed for long in New Delhi. I know the pathetic state of student accommodations there. I do hope students and bachelors start getting affordable options in other cities like YOLASPACES is providing in Indore. I feel, there is a business model here for builders and property management companies alike. Indore Apartment video link: https://shorturl.at/P2p3F