Budget hotel chain OYO’s housing vertical OYO LIFE has tied up with IIT Delhi and Plaksha University to provide affordable housing for students. This product will be designed in a price per bed basis and will range in the range of Rs 6,500-12,999 per month, Livemint has reported.
It is expected to provide an end-to-end managed housing experience for 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”, said OYO’s new real estate business CEO Rohit Kapoor.
OYO LIFE currently has over 500 buildings and 30,000 beds in India and is adding more capacity to the tune of 5,000 beds per month. It is currently present in cities like Delhi, NCR, Pune and Bengaluru. It will soon expand to Hyderabad, Chennai, Kolkata and Mumbai.
The rooms are equipped with facilities like TV, AC, WiFi, fridge and power backup. This product mainly aimed at young professionals and provides a fully furnished semi-luxury experience in most properties. There is no brokerage or lock-in period involved for these properties.
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