Co-living operator Settl. to double its bed strength to 5,000 by FY24-end

Co-living operator in Bengaluru, Settle. It aims to double its capacity to 5,000 beds by the end of this fiscal year (FY24). Presently, the company has around 2,500 beds across Bengaluru, Hyderabad and Gurugram.

Settle. It already has 7 co-habitation properties with approximately 700 beds in Gurugram. The company said in a statement that it is also set to open four new properties with around 300 beds next month.

It is looking for more properties in Delhi-NCR and plans to launch an additional 1,500 beds in FY24. Besides Gurugram, the company currently has 1,200 beds in Bengaluru and 300 beds in Hyderabad.

“The growing demand for managed rental accommodation for shared living is a testament to the need for community living and convenience and in metro cities like Gurugram and Noida where millennials are the driving force behind the economy, shared living spaces are emerging as a preferred option,” said Bharat Bhaskar, Co-Founder, Settle: For those looking for a seamless living experience.

In Gurugram, the centers are located in different sectors of the city. These centers have options to choose from fully furnished managed accommodations in a common room, as well as one private room (room and kitchen).

“We are seeing an increase in demand for quality communal living spaces. Two of the four upcoming properties in Gurugram have already been fully booked and the other two are also receiving a strong response,” said Bharat.

Settl started. , which started in 2020 and is currently operating in Bengaluru, Hyderabad and Gurugram, expanding its presence in existing and new cities. She is in discussions with potential investors to raise more funds.

Settle. Entered into long term lease agreements with builders and asset owners. It designs and develops properties according to the need and demand of the occupants before renting out the space to working professionals.

The company said that approximately 80-90 percent of the occupants of its positions are working professionals between the ages of 25 and 35.