Settl., a managed accommodation provider, has started operations in Hyderabad with its first managed property in the IT hub of Madhapur near HITEC City, and plans to open five properties in the city by May 2021.
Founded in July 2020 by young entrepreneurs Abhishek Tripathi, Bharath Bhaskar and Ashok Reddy, Bengaluru-based Settl. aims to foster communities through technology-enabled co-living spaces and transform the way millennials live through quality co-living spaces.
With the launch in Hyderabad and the upcoming four new properties in the city, Settl. aims to target the city’s huge influx of local and immigrant population as it becomes one of the major tech hubs in the country.
Over the next 12-15 months, the company, which operates on a large-scale hub, aims to have 2,500 beds in Bengaluru and Hyderabad.
Co-Founder Tripathi said in a statement: “The co-living industry holds great potential in the new normal as professionals are looking for quality shared spaces paired with hospitable service staff, flexibility to convert living space into work stations, and with technology in the palm of their hand.
“We are witnessing a strong demand emerging for the sharing economy. The country’s mass vaccination drive will play a pivotal role in more professionals returning to co-living spaces.”
The company offers fully furnished rooms, 24×7 power backups, high-speed internet, nominal deposits and all-inclusive rents.