Discover Settl. – An Upcoming Leader of Co-Living Startups in Metro Cities

Settl., a co-living startup, is making waves in the Indian real estate market with its recent announcement to double its capacity from 2,000 to 5,000 beds. With growing demands from working professionals for quality rented accommodations in key cities, Settl. is expanding its reach to provide hassle-free services.

Founded in July 2020 by Abhishek Tripathi, Bharath Bhaskar and Ashok Reddy, this Bengaluru startup was launched to ensure safe, clean, well-furnished and ready-to-move-in properties for people who have relocated for work. In an interview, Settl. ‘s co-founder, Abhishek Tripathi, revealed that the main idea behind this startup was to make people away from home, have a sense of ‘comfort zone’ in the bustling metro cities. Though launched amid the pandemic, the startup has currently over 2000 beds in three major cities: Gurugram, Hyderabad and Bengaluru.

Meeting Growing Demands: Settl. 

Co-living spaces have gained immense popularity, with millennials driving the economies in metro cities.

Settl. operates to weed out the daily struggles of rental homes and brokers so that the young millennials have more time to do things they are more interested in. With its “Settl. Connect app”; the startup offers to know your neighbours and connect for property-related queries and updates. Essential services like 24×7 power backups, high-speed wifi, nominal deposit and flexible tenure gives the brand an upper hand over all other companies offering co-living options. With this, it has an all-inclusive and caring community environment where people form connections over fun activities like movie nights and yoga sessions. Settl. refers to its residents as ‘Settlrs’ and curates events from time to time to have a close-knit family atmosphere. The monthly rental rates for beds range from Rs 11,000 to Rs 24,000, depending on the location, city, and available amenities.

Driving the Co-Living Movement

Co-Founder of Settl., Bharath Bhaskar acknowledges the rising demand for managed rented co-living accommodations. He believes that the success of co-living spaces stems from the need for community living and convenience, mainly where millennials play a vital role in the economy.

Capitalizing on the pain points, the company reported a two-fold increase in revenue from Rs 6.75 crore to Rs 16.75 crore this year.

The company aims to cater to this need by providing co-living spaces that create a sense of belonging and nurture meaningful connections among residents.

Expansion and Future Plans

The real estate startup currently functions eight properties in Gurugram, offering approximately 700 beds. By August, Settl. plans to open four additional properties in Gurugram, adding around 300 more beds to its portfolio. Furthermore, the company aims to launch an extra 1,500 beds in the National Capital Region (NCR) during FY2024.

Settl. ‘s success has paved the way for further expansion. The company is actively seeking new properties in Noida, Chennai and Pune. The company is currently involved in advanced negotiations with multiple property owners in its presence in three cities and three new markets. The discussions are reaching their final stages, and the agreements are expected to be officially signed by September.

The company’s strategy involves entering into long-term lease agreements with builders and asset owners, enabling them to design and develop properties to meet residents’ needs and demands.

By providing hassle-free accommodations with modern amenities and a vibrant community, Settl. is all set to shape the future of co-living in India and redefine how people experience shared living spaces.

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