Coliving operator Settl. to add 2,000 beds

New Delhi, August 31, 2022: Coliving operator Settl. will add about 2,000 beds by June next year across Delhi-NCR, Bengaluru and Hyderabad to cater to rising demand of managed accommodation by working professionals.

“We are witnessing a surge in demand for managed rented homes from working professionals. Most of these employees are working on a hybrid model and they need quality space for living and work purposes,” Settl. Co-founder Abhishek Tripathi said.

Started in 2020, the company currently has 2,000 beds across 40 properties in the three cities. A press release issued by the company says that, it aims to touch 4,000 beds by June next year. Settl.plans to add at least 1,000 beds in the National Capital Region (NCR) alone.

“We are currently present in 3 cities and we want to expand to 3 new cities including Delhi and Noida by June 2023,” Tripathi said.

“We sell beds in a price range of Rs 11,000 per month to Rs 18,000 per month, depending on city to city, location and available facilities. About 80-90% of our occupants are working professionals between the age group of 25-35 years,” he added.