Real estate firm BDI Group has forayed into the co-living segment with the launch of Vhive. The Gurugram-based company is planning to invest about Rs 50 crore in the next one year to reach 10,000 beds.
Sumit Berry, Managing Director at BDI Group, said, “We have entered into co-living business under a new venture Vhive. We have started two centres in Alwar and Bhiwadi, to begin with, comprising 200 beds.”
Vhive is charging Rs 6,000 to Rs 10,000 per bed, excluding electricity bill, in these two co-living centres at Bhiwadi and Alwar.
The company will launch its co-living facilities in Gurugram, Jaipur, Kota and Indore. It is eyeing to expand its footprint in Delhi-NCR as well as Tier-II cities in Punjab, Haryana, Uttar Pradesh, Uttarakhand, Rajasthan, and Madhya Pradesh.
“Our target is to reach 10,000 beds in the next one year. We are focusing on industrial towns and educational hubs to provide co-living because there is a huge demand-supply gap. While most co-living operators are focusing on metro cities, we want to target tier II and III cities,” Berry added.
The firm aims to offer hassle-free accommodation to students and working professionals at a competitive price.
