Student Housing

OYO Life Forays into Student Housing; Ties Up with IIT Delhi

News

Leading rental housing solutions firm, OYO life has recently announced its expansion plans to the student housing segment. The company has tied up with Indian Institute of Technology (IIT), Delhi and Plaksha University in Gurugram to provide more than 500 beds for the student accommodation.

OYO Life has signed an agreement with IIT Delhi and Plaksha Tech Leaders Fellowship in Delhi and Gurugram. The rental varies from Rs 6500 to Rs 12,999 per bed, per month, depending on the location and size of the room. All the rooms will be equipped with modern and essential amenities such as Wi-Fi, TV, refrigerator, AC, regular housekeeping, power backup, CCTV surveillance, and 24/7 caretaking.

After signing the agreement, Rohit Kapoor, CEO (new real estate businesses) OYO, said, “With an increasing number of students population in India, the demand for rental homes is witnessing a fast pace. Because of this, we decided to expand our legs into this segment. We believe that our offerings like fully furnished, fully maintained, internet-ready accommodations and innovative services will help students to get a home-like experience.”

He further informed that the company is confident that the growing presence of student housing will enable them to scale 100K beds by the end of 2019.

OYO forayed its legs into the rental housing segment with OYO Life in 2018. The company has more than 500+ buildings, 30,000+live beds at present and has a presence in Delhi-NCR region, Pune and Bangalore. The group is now planning to expand in 4 more cities namely-Hyderabad, Chennai, Kolkata, and Mumbai.

Besides this, the company is aiming to add 5,000+ new beds every month for the millennials who are looking for fully managed homes on long-term rentals, at affordable rates.