HDFC Capital Advisors, the real estate private equity arm of the HDFC Group, has partnered with Curated Living Solutions (CLS) to set up India’s first large-scale, institutional rental housing platform with an initial corpus of Rs 1,000 crore.
The platform will develop and operate institutional-grade rental assets across segments such as co-living, student housing and worker accommodation, marking a significant step towards formalising India’s largely unorganised rental market.
The initial phase will target top urban markets including Bengaluru, Mumbai, Delhi-NCR, Hyderabad, Pune and Chennai, where workforce mobility, student inflows and rising housing costs are accelerating the shift towards rental living, company officials said.
“India’s urban rental housing market is at an inflection point, shaped by a young and mobile population, and rental housing is essential to enhance mobility, particularly for students, young professionals, and migrant workers,” said Vipul Roongta, managing director and chief executive of HDFC Capital Advisors.
CLS, promoted by Bengaluru-based real estate developer DivyaSree Group, offers away-from-home housing solutions and currently manages over 13,000 beds across the country, spanning co-living, student accommodation and worker housing.
“By combining HDFC Capital’s long-term capital with CLS’s operating expertise, the platform will focus on developing and owning high-quality rental housing assets with a clear emphasis on safety, functional design, and sustainability,” said Bhaskar Raju, promoter of Curated Living Solutions and DivyaSree Group.
The partnership is anchored in long-term demographic and urbanisation trends, including a young, mobile population, increasing migration for education and employment, and changing lifestyle preferences that prioritise flexibility over home ownership, officials said.
According to industry estimates, India has over 450 million urban residents, with nearly 30–35% living in rented homes. Within this, the organised rental and co-living segment remains a fraction of total demand.
Market experts note that institutional rental housing is emerging as a distinct asset class in India, offering stable, annuity-style returns while addressing affordability and quality gaps in urban housing.
With rising home prices, limited supply of affordable ownership housing and greater acceptance of rental living, professionally managed rental platforms are expected to see sustained demand and investor interest.
Colliers estimates that while India currently has only around 0.3 million organised co-living beds, the demand is close to 6.6 million beds. Student housing alone accounts for an estimated 8–9 million beds, most of which are unorganised, while migrant and workforce housing adds several million more units across industrial and service hubs.
India’s worker housing market remains one of the country’s largest yet most underserved real estate segments. With over 40 million migrant workers moving across cities for jobs in construction, manufacturing and services, demand for affordable, safe and professionally managed rental housing far outstrips supply.
“Our priority has been to deliver well-designed and efficiently managed rental housing solutions. Partnering with HDFC Capital allows us to scale the platform and expand our presence across key urban markets in India,” said Jai Challa, chief executive of Curated Living Solutions.
The platform will develop and operate institutional-grade rental assets across segments such as co-living, student housing and worker accommodation, marking a significant step towards formalising India’s largely unorganised rental market.
The initial phase will target top urban markets including Bengaluru, Mumbai, Delhi-NCR, Hyderabad, Pune and Chennai, where workforce mobility, student inflows and rising housing costs are accelerating the shift towards rental living, company officials said.
“India’s urban rental housing market is at an inflection point, shaped by a young and mobile population, and rental housing is essential to enhance mobility, particularly for students, young professionals, and migrant workers,” said Vipul Roongta, managing director and chief executive of HDFC Capital Advisors.
CLS, promoted by Bengaluru-based real estate developer DivyaSree Group, offers away-from-home housing solutions and currently manages over 13,000 beds across the country, spanning co-living, student accommodation and worker housing.
“By combining HDFC Capital’s long-term capital with CLS’s operating expertise, the platform will focus on developing and owning high-quality rental housing assets with a clear emphasis on safety, functional design, and sustainability,” said Bhaskar Raju, promoter of Curated Living Solutions and DivyaSree Group.
The partnership is anchored in long-term demographic and urbanisation trends, including a young, mobile population, increasing migration for education and employment, and changing lifestyle preferences that prioritise flexibility over home ownership, officials said.
According to industry estimates, India has over 450 million urban residents, with nearly 30–35% living in rented homes. Within this, the organised rental and co-living segment remains a fraction of total demand.
Market experts note that institutional rental housing is emerging as a distinct asset class in India, offering stable, annuity-style returns while addressing affordability and quality gaps in urban housing.
With rising home prices, limited supply of affordable ownership housing and greater acceptance of rental living, professionally managed rental platforms are expected to see sustained demand and investor interest.
Colliers estimates that while India currently has only around 0.3 million organised co-living beds, the demand is close to 6.6 million beds. Student housing alone accounts for an estimated 8–9 million beds, most of which are unorganised, while migrant and workforce housing adds several million more units across industrial and service hubs.
India’s worker housing market remains one of the country’s largest yet most underserved real estate segments. With over 40 million migrant workers moving across cities for jobs in construction, manufacturing and services, demand for affordable, safe and professionally managed rental housing far outstrips supply.
“Our priority has been to deliver well-designed and efficiently managed rental housing solutions. Partnering with HDFC Capital allows us to scale the platform and expand our presence across key urban markets in India,” said Jai Challa, chief executive of Curated Living Solutions.
