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