Zolostays, India’s largest co-living brand eyes expansion in Mumbai, plans with initial 500cr investment
Mumbai, 9th February 2022: Zolostays, India's largest co-living brand, has partnered with Labdhi Lifestyle Ltd, a premium residential group, to be among the very few to provide a high in demand concept of co-living accommodations at an affordable cost in Wadala that are conducive to the needs of today’s technologically-savvy professionals and students. With a valuation of 120 crore for the project Sea Breeze, Zolostays aims to focus at investors and end consumers with an apartment style that has been rapidly gaining demand.
Through ZEASSETZ, a subsidiary of Zolostays, a real estate assessment & distribution arm in high yield property investment options across the primary markets will spearhead the sales for Sea Breeze. With regards to ownership, the property is registered under the buyer’s name. This makes it a 100% asset-backed investment with no risk of capital erosion and remains secure at all times of one’s ownership as the capital value only appreciates over the time.
Speaking on the launch Mr. Nikhil Sikri, CEO, and Co-Founder, Zolostays said, “In India, the co-living concept is gaining widespread acceptance from investors and has brought some new models in the private rental sector. Though the concept is novel, it’s here to stay, as India’s millennial population currently accounts for 440 million. We are pleased to have partnered with like-minded partners Labdhi.”
With a promise to assure rentals to every investor associating for the project, the project has been receiving an overwhelming response currently.
Mr. Sikri further added, “Through Zeassetz we will provide accessibility for the masses helping them own affordable homes and diversify savings. With Zolo’s backing, the entire property management, maintenance, tenant hunting and collection of rentals will be taken care of. This will include initial investment support and exit.”
ZEASSETZ, has nearly 10 acres in and around Pune and Mumbai, including 90 acres of developable land in collaboration with the country’s most reputed developers. As a part of the brand’s 2022 strategy, it intends to have INR 450 cr / 10L sq feet of real eastate sales.
Speaking on the partnership Mr Vikas CEO Labdhi Lifestyle said, “With people trying to return to their normal life, post lockdown working professionals and students are looking forward to accommodation according to their preferences and needs. We have witnessed a steady increase in migrant professionals housing needs, as well as spending appetite for achieving better standards of living. With a like-minded partner like ZoloStays, we are confident to successfully deliver the project in the promised timeline to our patrons.”
Sea Breeze, with 400 units is a single tower with two wings. The property is situated at a central location of Mumbai, 200 meters at distance from the Eastern Freeway, and 1km from Wadala railway station. The 35 story building with 12 apartments on each floor, the flat value starts from 80lacs. The project is also equipped with a Gym, Mini Theater, Jacuzzi, Amphitheater, Multipurpose Hall, Steam, Sauna & Massage Room, Reading Room, Crèche, Laundromat, Fire and Safety.
Zolostays plans to set up INR 500 cr investment in partnership with global and national developers to expand its presence across the country. The focus will stay on delivering likeminded projects to millennials exactly the way they are looking for - hassle-free, commitment-free living spaces where everything is taken care of for them. Zeassetz is currently working on active projects in Pune, Chennai, Bangalore, Noida and Mumbai. It has successfully sold out properties and residential tower in Pune and plans to expand its presence in Noida, Delhi in the near future.
About Zeassetz
Zeassetz, India’s first and largest tech-enabled co-living property investment platform was launched in 2021 with an aim to offer hassle free and tech enabled property investing experience. The tech driven property management platform is closely tied to Zolo, the country’s ace player in co-living and has raised as much as $90 million in funding. Being well known for its high rental yield, Zeassetz holds 4.5 million square feet of land under their management and 1.2 lakhs of tenants with a strong top leadership from premier institutes like IIT, IIM, AIIMS and ISB."
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