We are happy to let you all know that we are expanding our footprint in India by growing our presence in the student housing segment. We launched OYO life last year in October with the aim of offering residents fully managed independent residential units, inclusive of contracting, furnishing, cleaning, maintenance, and in-stay services. We have tied up with marquee institutes like IIT, Delhi and Plaksha University’s Fellowship program in Gurgaon and will be managing over 500 beds for the student community.
With the growing student intake especially in institutes in metropolitan cities and the consequent shortage of on-campus hostel facilities, we will tap this opportunity by providing fully managed, long term rental solutions to students. We have signed an agreement to provide 500+ beds for students of both IIT and Plaksha Tech Leaders Fellowship in Delhi and Gurgaon respectively to provide affordable accommodations starting from the price as low as Rs 6500 -12,999 per bed, per month (in some cases, depending on the location and size of the room. All our OYO LIFE buildings will be equipped with essential amenities like Wi-Fi connectivity, television etc.
Mr Rohit Kapoor, CEO, New Real Estate Businesses, OYO, said ” We are excited to partner with IIT Delhi and Plaksha’s Tech Leaders Fellowship to offer our first-of-its-kind, end-to-end fully managed housing experience for the students. As academic pursuits today require more flexibility and mobility, the demand for fully furnished, fully maintained, internet-ready accommodations and innovative services have increased manifold. OYO LIFE recognizes this need and provides a hassle-free fully managed service to students looking for a place to stay closer to their academic institutions. With OYO LIFE, we are also providing students with a range of affordable amenities such as surveillance and security, Wi-Fi, food, etc to make daily life more convenient. We are confident that our growing presence in the student housing segment will enable us to scale 100K beds by 2019-end”.
With OYO Life we believe that housing is an essential product to LIFE and inspires how you live your life. When one chooses OYO LIFE, instead of a traditional rental home, you choose a lifestyle which gives you the freedom to live your life in your own way – financial freedom with minimal deposits so that you can save and spend the way you like.
Since our launch Launched in Oct 2018, we now have 500+ buildings, 30000+live beds and are adding 5000+ new beds every month making it one of the largest businesses for branded fully-managed housing for millennials in India (as of Aug 2019). Currently, present in 4 cities in India – Delhi, NCR, Pune, Bangalore we are rapidly expanding our base to 4 more cities – Hyderabad, Chennai, Kolkata and Mumbai.
