The Bengaluru-based student housing start-up Myroomie.in announced its foray into the Chennai market by rolling out 1,000 beds spread across multiple facilities around leading universities in the city.
The properties in Chennai are located in Kelambakkam, Potheri and Semmancheri aimed at attracting the student communities from the Hindustan University, SRM University, Sathyabama University and Chettinad Institute located in these vicinities.
Founded by IIM-Bengaluru alumnus Dennis Basil in 2018, Myroomie.in, which is operated by Monami Hospitality Private Limited, offers plug-and-play housing to college students. The company leases apartment complexes from real estate developers and converts them into student housing hubs with modern amenities such as well-appointed rooms, sports facilities, gym, modern kitchen, professional housekeeping, 24×7 security, among others.
Currently, Myroomie.in operates 2,000 beds in Bengaluru in addition to the 1,000 new beds in Chennai.
“The fact that all our properties in Bengaluru operate at around 95 per cent occupancy levels is an overwhelming endorsement by the student community. Chennai is a major educational hub, but only a fraction of students find campus accommodation. Myroomie would like to offer top notch accommodation to Chennai student fraternity,” Dennis Basil, Founder and CEO of Myroomie.in, said in a press release.
The company said it has plans to grow to 10,000 beds in various cities across South India by 2023 and is targeting one lakh beds by 2026.
In Chennai, Myroomie.in has tied up with Jain Constructions for its properties and is in advanced talks with another developer to source more, the company added.
June 13, 2022