Bhubaneswar: As admission season gathers momentum and thousands of students prepare to move to the state capital for higher education, the city’s real estate sector is exploring a relatively new opportunity — professionally managed student housing and co-living spaces.Long known as an education hub with some major private educational institutions besides IIT Bhubaneswar, NISER and several govt colleges, the city attracts students from across Odisha and other states every year. This growing student population is prompting developers to look beyond conventional residential projects and tap into the emerging demand for organised accommodation.Industry experts say the concept is still at a beginner’s stage in Bhubaneswar, but changing expectations among students are creating favourable conditions for growth. Unlike earlier generations, who were largely concerned with affordable rent, students today increasingly seek safety, reliable internet connectivity, housekeeping support, nutritious food, power backup and community spaces.“Students, especially Gen-Zs, are no longer looking for a room to stay in. They want a convenient and secure living environment that supports their academic and social life,” said Elroy Fernandes, spokesperson for a leading real estate firm that is developing co-living spaces. He said the demand for professionally managed student housing is steadily expanding beyond metros as Tier-II education hubs attract students from diverse places.However, the path to popularising co-living in Bhubaneswar is not without hurdles. Developers point out that the city’s rental ecosystem continues to be dominated by traditional paying guest accommodation, private hostels and informal rental arrangements. Many students and parents regard these options as more familiar and, in some cases, less expensive than organised housing facilities.“The biggest challenge is changing long-held perceptions. Many parents still prefer traditional hostels because they are familiar with the model. There is limited awareness about the benefits of professionally managed accommodation, including transparent pricing, safety standards and quality infrastructure,” Fernandes said.Real estate experts also noted that Bhubaneswar’s experience with co-working spaces offers a cautionary lesson. Several co-working ventures struggled to achieve sustained occupancy in the city due to limited demand from start-ups and freelancers. Industry observers believe co-living operators must avoid a similar pattern by keeping prices competitive and aligning services with local market realities.According to property consultants, affordability remains a critical factor. Unlike metros, where students may be willing to pay a premium for managed accommodation, Bhubaneswar’s market is price-sensitive. Developers therefore need to balance modern amenities with reasonable rents.“Any co-living project in Bhubaneswar has to understand the spending capacity of students and their families. Premium facilities are important, but affordability will determine long-term success,” said Prakash Pattnayak, a city-based real estate consultant.Parents, meanwhile, see potential benefits, particularly in terms of safety and supervision. Sarmistha Das, whose daughter is set to join a city college this year, said parents are primarily concerned about safety. “If a professionally managed residence offers proper security, emergency support and transparent rules, many families will consider it despite higher costs,” she said.
