Airbnb has a presence in india in major cities.
not very popular though.
with indian fears of staying in homes of unknown people and problems associated with such stays regarding food ,location etc ,not many opt for it
my son on his holiday to europe stayed in three or four countries in accomodation booked thru airbnb . He found it very economical.He was on a shoestring budget.
location of some accomodation was a bit out of the way though very cheap.he says he enjoyed his stay in these places and would do it again.
I tried finding some places in chennai like that thru airbnb .Though available , my lack of courage in staying in unknown peoples homes deterred me from booking.