We are happy to announce that we have strengthened OYO LIFE’s footprint in the country with 40,000+ live beds and 700+ live buildings across 9 cities – Delhi, Noida, Gurgaon, Pune, Bengaluru, Mumbai, Hyderabad, Chennai, and the latest edition being Kolkata. We have revolutionized the housing and long-term rental offerings with our first-of-its-kind, hassle-free, and technology-driven rental housing product.
We launched OYO LIFE last year in October with the aim to offer an end-to-end managed, comfortable, high-quality living experience to millennials and young professionals, eliminating their hassle of discovering, accessing and managing everyday housing. OYO LIFE currently witnesses about 85-90% occupancy (matured buildings) with 95% of the residents renewing their stay and choosing it as the preferred stay option and is adding 5000-8,000 beds a month. We started our operations in 4 cities – Gurugram, Noida, Bengaluru and Pune with 100+ live buildings, 500+ beds in October 2018. Within a year of our launch, we have effectively expanded our footprint to 5 more cities – Delhi, Mumbai, Hyderabad, Chennai and Kolkata – making us the fastest-growing long-term rental player in India. Tapping into the potential of the student housing sector we recently signed an agreement to provide 500+ beds for students of both IIT and Plaksha Tech Leaders Fellowship in Delhi and Gurgaon respectively to provide affordable accommodations.
Unlike aggregators in the industry, at OYO LIFE we lease an entire building, transform it, control its inventory and manage the end-to-end operations to offer a superior co-living experience, replete with break-out zones and community gaming and interaction areas. Starting at an affordable price of INR 5,999 per bed, all of our OYO LIFE buildings are equipped with essential amenities like Wi-Fi connectivity, television, refrigerator, furnishings, AC, regular housekeeping, power backup, CCTV surveillance, and 24/7 caretaking. By doing so, OYO LIFE addresses the supply-demand gap in the long-term rental housing space and eliminates the hassles of heavy deposits, lock-in period, lack of safety infrastructure, unpredictable living conditions, expenses on furnishings, maintenance and unreliable housekeeping.
OYO LIFE accommodation provides essential amenities like Wi-Fi connectivity, television, regular housekeeping, power backup, CCTV surveillance, and 24/7 caretaking. Residents also have access to OYO Support at all times for any escalation and issues, at no additional cost over the monthly rental charges. These living spaces are carefully curated keeping in mind the preferences of the young and ‘always on’ generation, with a focus on comfort and convenience, so that these young creative minds can pursue their passions.