The best source of information for on campus housing comes from UBC housing website. One of the main things to consider is the rent and the facilities provided. Few places like Green College and St. Johns provide food while others provide very basic facilities. Most of the studio and one-bedroom apartments come unfurnished but buying second hand furniture is usually not a problem. Note that there is usually a long waitlist for on-campus accommodation. It is better to apply as soon as possible. If you do not get a housing offer by 15th August, then searching accommodation off campus is recommended. However it is not uncommon for the waitlist numbers to change drastically in end of August.
Off Campus Accommodation
For off campus housing you can look into websites like Craigslist, Padmapper or amsrentsline. Searching for an off campus apartment while in India can be hard. It is highly recommended that you see the place personally or ask a friend to do so, before making any financial transactions. Many students prefer to stay at Hostels (Jericho hostel, HI in Downtown and Conference and Accomodation at UBC) when they arrive in Vancouver and hunt for long term accommodation. Do come 10 to 15 days earlier if you want to search for a off campus housing.
In general, it is true that the rent increases as you get closer to campus. Many students commute from Kitsilano, Dunbar, Kerrisdale, Granville, Downtown, Cambie, Main, Fraser etc. The average rent close to the campus is about $600 to $700 for an individual room in a decent apartment.