Co-liv company Settl. to double bed capacity to 5,000.

Settl., a co-living operator, has announced plans to double its bed strength to 5,000 by March next. Currently, the company operates 2,500 beds across Bengaluru, Hyderabad, and Gurugram.

Starting with Gurugram, the company will open four centres within the next month, which will have a total capacity of around 300 beds. Settl. has seven operational co-living properties with approximately 700 beds in Gurugram. Overall, it plans to launch an additional 1,500 beds in the NCR region during FY24.

“In metro cities like Gurugram and Noida, where millennials are the driving force behind the economy, co-living spaces are emerging as the preferred choice for those seeking a seamless living experience,” said Settl. Co-Founder Bharath Bhaskar.

In Gurugram, the centres are located across the city.These centres have options such as fully- furnished, managed shared room accommodations as well as 1 RK (Room & Kitchen) private room.

“We are witnessing increasing demand for high-quality co-living spaces. Two out of the four upcoming properties in Gurugram have already been fully booked, and the other two are also receiving a strong response,” he added.

The company, which was started in 2020, plans to expand its business further, and is in discussions with potential investors to raise further funds.

HBL