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CASE STUDIES
can be achieved if it is aided by be separately earmarked in a CONCLUSION
housing policies and strategic residential zone in the master This research has thrown light
business policies. To address plan is thought of as an effective on the merits and demerits of the
the rental housing crisis in solution to solve the bachelor’s co-living spaces as a new format
metro cities of India, these new rental housing crisis. An online of rental housing from the
formats have already exhibited portal for rental housing which demand and supply mechanism
their efficiency but to make it would act as a one-stop solution. perspective. This study
beneficial for each stakeholder This intervention which has demonstrates that despite small
i.e. property owner, rental been briefly articulated in the market presence these formats
agency, and tenants, the right new draft (2015) is probably the are quite effective in outreach,
policy environment is needed most important policy measure risk management, and yield,
as it gives a basic premise for to help people who have just especially in the context of the
these stakeholders to explore migrated to a new city to give a cities under study. Further, the
their choices. It also strengthens clear picture of the current rental working model of these formats
government’s role as an enabler housing scenario of the city. In can also be studied in the context
which facilitates the market to the portal, rental stock of the city of other metro cities witnessing
work most efficiently. should be registered irrespective high rental demand. It is shown
Keeping these aspects into of their vacancy status to create that though the Co-living rental
consideration few policy a wholesome database. Also, startups have started their
recommendations have been every detail of the property like journey with great ideas to solve
given, which along with size, rent, amenities, vacancy the rental housing crisis for the
empowering and regulating status, deposit clause, etc. millennials, huge demand in
rental agencies, can be should be declared. Rental the market has created more
implemented to solve overall agencies and rental agents also chaos. In absence of rental
bachelors’ housing problems. need to register with the portal. housing policy support, this
Rental vouchers to rental To create and manage the segment remains unregulated
agencies, unlocking vacant database and the portal a similar by the government. For further
properties for the market, authority like RERA needs to research, these formats and their
registration, and promotion of be created as one of the main effectiveness can be studied
rental agencies can be identified criticisms of RERA is that there is across all major metro cities
as suitable measures to empower no provision for rental housing in India like Bengaluru, Pune,
and regulate rental agencies. in RERA (Makaan, 2018). To sort Hyderabad, Mumbai, which
Further, these policies have the differences/ dispute between in turn will result into a better
already been acknowledged as stakeholders there should be understanding of the bigger
suitable policy measures in the a mechanism on the portal for picture of their working model
National Urban Rental Housing the systematic registration of and its success and failure at the
Policy draft (2015) which shows the issue, redressal of the issue, national level. Further research
the effectiveness of the same in and penalty for the faulty party. can focus on how urban planning
this present scenario. Employer Thus, a portal like RERA can be framework and regulations
driven housing and reservation created for rental housing stock can facilitate rental housing
for rental housing in large registration, where grievances of in general and such business
housing projects in high demand the tenants can be addressed by models in particular, to offer an
rental zone which needs to the competent authorities. efficient and effective solution
October 2020 Volume 21 No. 2-SHELTER 87
