The Livlit, the newest entrant in Mumbai's burgeoning co-living space, is on a rapid expansion with the acquisition of new properties in Prabhadevi and Kharghar and plans for further development in key micro markets across the city.
With three thriving properties already established in Fort, Ballard Estate, and Upper Juhu, The Livlit, a co-living start-up, currently offers more than 400 beds, catering to the accommodation needs of students and working professionals. Anyone looking for a space to stay in a modern environment, can book a bed through the company's website just at the click of a button. The Livlit's all-inclusive pricing model covers essential amenities such as electricity, WiFi, laundry, breakfast, housekeeping, and maintenance, ensuring residents enjoy a comfortable and convenient stay for a minimum of one-month.
Mayank Bajaj, Founder, The Livlit, said that the brand is re-defining the concept of co-living by offering a state-of-the art experience that marries comfort and convenience. “We are creating a paradigm shift in the way co-living was seen all these years. The Livlit offers an unmatched experience through its professionally managed spaces with facilities like swimming pool, gym, library, clubhouse, unlimited laundry and electricity. All these conveniences under the comfort of one roof, will ensure that occupants, both male and female, get an experience that is a rarity in the industry.”
The newest additions to The Livlit's portfolio are two strategically located properties in Prabhadevi and Kharghar, Navi Mumbai. The property in Kharghar spans across seven floors and 12,000 square feet while the one in Prabhadevi is over 25,000 square feet. Both the properties in Prabhadevi and Kharghar will feature all modern facilities including gym, cafeteria, outdoor theatre, and clubhouse. Both properties will have around 100 beds each. The majority of rooms will be single and twin sharing, meeting the preferences of The Livlit's diverse community.
Commenting on the expansion strategy, Udhav Mansinghka, Co-Founder, The Livlit, said, "We're thrilled to expand our footprint in Mumbai's co-living market with the addition of our new properties in Prabhadevi and Kharghar. This marks another milestone in our journey to redefine urban living by offering premium accommodations with top-notch amenities and a focus on resident satisfaction. In addition to the new properties, The Livlit is actively exploring opportunities in other micro markets across Mumbai.”
Since its inception in 2021, the start-up has experienced remarkable progress, starting with a modest 22-bed property and achieving a current annual turnover of INR 4.00 crores. With the upcoming expansion, The Livlit projects a turnover upwards of INR 10 crores by March 2025.
