Housr announces its entry in India’s fast growing co-living market

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NEW DELHI: Housr, the newest entrant in the co-living industry has announced its operations today. Founded by two real-estate veterans, Deepak Anand and Kalpesh Mehta, Housr is a super aggregator of properties, which creates experiences, fosters communities through state-of-the-art technology-enabled co-living spaces.

Housr has received investment from marquee real estate veterans like Abhishek Lodha, MD & CEO, Lodha Group; Pirojsha Godrej, Executive Chairman, Godrej Group & Harsh Patodia, President Elect of CREDAI & Chairman, Unimark Group, at USD 30mn pre-money valuation.

Operating in stealth mode for the past six months, Housr today announced that it has locked in 10,000+ beds across key locations such as Delhi NCR, Mumbai and Kota. Over the course of the next 18 months, the company plans to expand its India footprint with 50,000+ locked-in beds by entering markets such as Chandigarh, Pune, Bengaluru and Hyderabad.

Headquartered in Gurgaon, Housr’s vision is to transform the way millennials live through high quality co-living spaces which make their lives easier, more convenient, fulfilling and memorable. Targeting primarily young professionals and students, our goal is to become the largest co-living player in the next 18 months, with plans to launch 20+ properties across 8-10 key cities, with each property housing 500+ residents.

Deepak Anand, Founder & CEO, Housr said, “Housr sits at the cusp of three emerging trends – shared economy, technology and cultural urban migration. With a historic shift in the way people live, primarily led by technology, urbanization, we recognize the need for modern living spaces that are conducive to the needs of today’s technologically-savvy professionals. India is the fastest-growing economy with over 440 million millennials, the highest anywhere in the world. Housr’s strongest differentiator is its ‘mega communities model’. Each property will have 500+ residents living together. This allows for strong economies of scale and unparalleled services and community offerings that no other player in India is able to provide as of today.”

Abhishek Lodha, MD & CEO, Lodha Group and an investor in Housr who is a firm believer in the concept of co-living said, “Housr has all the ingredients required to disrupt this space through a super aggregated, and community first approach. As a developer and an investor, I look forward to supporting Housr to transform the co-living industry in India.”

Kalpesh Mehta, Co-Founder, Housr said, “We firmly believe that the modern shared accommodation is the future of living, driven by a thriving shared economy coupled with a largely young demographic. Collaborative consumption has become a global trend, and India is no exception. This lays a very strong foundation for Housr in the co-living market which will set a benchmark across Asia and globally through these carefully curated spaces and cutting-edge design ideas that imbibe the millennial mindset.”

India represents the largest potential market for co-living in the world with the highest number of millennials. This has given a sharp rise to the concept of a shared economy, owing to the shifting trends towards gaining access over ownership model. Understanding the needs of modern residents and technologically savvy professionals,

Housr will offer unique mega co-living spaces that will cultivate vibrant communities by bringing people, interests and lifestyles together.