Bunny Makhni: Pioneering Stability in Mumbai's Co-Living Market

Mumbai’s housing landscape is a microcosm of the urbanisation pressures faced by many metropolitan cities—high demand, limited supply, and rising rental costs. For students and working professionals, finding affordable and reliable accommodation often means making significant compromises. Bunny Makhni, Founder of THE HABITAT MUMBAI, has spent over a decade addressing this gap by introducing structure, discipline, and sustainability into the city’s co-living ecosystem.

Bunny’s entrepreneurial journey was marked by adversity. After experiencing financial loss in a previous venture in the bakery and confectionery industry, he was compelled to restart with limited resources. Entering real estate as a PG and rental consultant provided immediate income, but more importantly, it gave him a deep understanding of a largely unorganised market. He observed that while the demand for PG accommodation was constant, management standards and compliance were inconsistent.

A pivotal moment came when Bunny converted his own home into a PG, vacated the space, and rented it out to 20 residents within a short span. This experiment confirmed both the demand and scalability of his idea. Over time, he transitioned from being a broker to an operator, leasing entire flats and managing them independently. This shift marked the beginning of a system-driven approach to shared housing, which later evolved into THE HABITAT MUMBAI.

Built over more than 12 years, THE HABITAT MUMBAI has grown into a professionally managed co-living enterprise with over 1,000 beds and approximately 90% occupancy. The business has been entirely bootstrapped, with growth driven by operational cash flow and disciplined reinvestment. Bunny’s focus on financial prudence ensured stability even during market fluctuations.

THE HABITAT MUMBAI addresses a critical urban challenge—providing affordable accommodation without compromising safety and comfort. By leasing properties, furnishing them responsibly, and enforcing defined house rules, the organisation creates predictable living environments for residents. At the same time, it offers property owners consistent rental income while maintaining legal and operational discipline.

A distinguishing aspect of Bunny’s approach is controlled expansion. While occupancy optimisation is essential for affordability, overcrowding is avoided to preserve resident experience and long-term asset value. Bunny believes that sustainability in co-living depends on balancing revenue with habitability, rather than maximising short-term margins.

Entrepreneurial lessons came through hands-on challenges—managing people, handling documentation, and navigating regulatory requirements. These experiences reinforced Bunny’s belief that processes and compliance are non-negotiable in service-driven businesses. Systems, he realised, create predictability and trust, allowing organisations to scale responsibly.

Inspiration for Bunny comes from entrepreneurs who build resilient, cash-flow-positive enterprises without excessive dependency on external capital. This philosophy continues to guide THE HABITAT MUMBAI’s growth strategy, where patience and preparation take precedence over rapid expansion.

Looking ahead, Bunny plans to strengthen operations across Mumbai, Thane, and Navi Mumbai before expanding to other Maharashtra cities. The focus remains on strengthening internal systems, training teams, and enhancing resident experience.

Recognition from SiliconIndia Magazine, which listed THE HABITAT MUMBAI among the “10 Best Co-Living Space Startups – City Category (2023),” affirms the organisation’s progress. For Bunny Makhni, however, success is measured by consistency—steady occupancy, compliant operations, and trust earned over time.