settl: Coliving startup Settl to enter Chennai market; to add 1,000 beds by March

Coliving startup Settl on Thursday said it will foray into the Chennai market and launch 300 beds soon for working professionals. Bengaluru-based Settl is currently managing 3,500 beds across Bengaluru, Gurugram and Hyderabad. It has 1,200 beds in Gurugram, 1,700 beds in Bengaluru, and 600 beds in Hyderabad.

It offers rental accommodation between Rs 11,000 to Rs 24,000 per month per bed, depending on the location, city and available amenities.

“We are looking to expand our business as demand for quality rental accommodations which are fully managed, is rising. Chennai offers a huge potential for co-living centres. We have identified a few buildings and are in talks with landlords to onboard these properties,” Settl Co-Founder Abhishek Tripathi said in a statement.

To begin with, the company plans to launch 300 beds in Chennai and will scale up to 1,000 beds by the end of this fiscal.

Established in 2020, Settl enters into long-term lease agreements with builders and asset owners. It designs and develops the properties before sub-leasing the space to working professionals.

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