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Abhishek Lodha, Pirojsha Godrej & Harsh Patodia invest in co-living startup Housr

Posted by Urban Avenues on May 1, 2019
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Housr has already locked in over 10,000 beds across key locations such as Delhi NCR, Mumbai and Kota.

BENGALURU: Three angel investors have invested an undisclosed amount in Housr, the yet-to-be-launched co-living startup that has already been valued at $30 million.

Abhishek Lodha, CEO of the Lodha Group; Pirojsha Godrej, executive chairman of the Godrej Group; and Harsh Patodia, chairman of the Unimark Group have invested in Housr, which is set for launch in about two months.

Housr has already locked in over 10,000 beds across key locations such as Delhi NCR, Mumbai and Kota. Over the next 12-18 months, the company plans to expand its India footprint to more than 50,000 beds by entering markets such as Chandigarh, Pune, Bengaluru and Hyderabad.

“We will be launching close to about five properties in the next four months. These five properties should in phase-one make about 3,500 beds operational,” said Deepak Anand, founder, Housr.

The Gurugram-based firm aims to become the largest co-living player in the next 12-18 months, with plans to launch over 20 properties across 8-10 key cities, with each property housing 500+ residents.

“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,” said Abhishek Lodha.

According to industry estimates, residential yield in India is about 2.5% currently. The co-living model gives around 6% yield to investors.

 

For more read, Click on Link: https://realty.economictimes.indiatimes.com/news/residential/abhishek-lodha-pirojsha-godrej-harsh-patodia-invest-in-co-living-startup-housr

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