India's 1st Rental Housing Development Platform Launched - Trilive

With its debut project in Andheri, Mumbai, Tribeca Developers announced the launch of Trilive, India's first platform specifically designed for the creation of rental housing. By meeting the housing needs of millions of Millennials in India's most desirable cities, Trilive hopes to transform urban living in collaboration with Housr, the country's leading luxury co-living operator. Trilive has acquired 650 apartments in Marol, Andheri, from the Starwing Group, a developer based in Mumbai, for its debut project.

It is estimated that there are over 10 million unmarried Millennials working in corporate settings in India's major cities. These young professionals choose to rent rather than buy and can usually afford 200 square feet of real estate, ideally a studio apartment.

However, there is essentially no supply of studios in India, which make up less than 0.5% of the country's enormous housing stock. These Millennials live in antiquated apartments or shared spaces with all the problems of the 1990s, despite the fact that they enjoy reasonably priced global lifestyles in every product category, including fashion, travel, cuisine, and entertainment.

Trilive intends to close this disparity by creating or purchasing studio housing complexes in several Indian cities. Mumbai's vibrant Andheri district, which draws young professionals, is the site of the company's debut project, Trilive Andheri. Trilive has partnered with Housr, which runs 75 properties in 5 cities and is supported by well-known investors like HDFC Capital and Serum Institute of India (Adar Poonawalla), to handle the experience smoothly.

With a 9-year lease from Housr, Trilive intends to sell the first 300 studios to investors at a targeted 6% rental yield, far outpacing the typical 2–4% rates of Indian residential real estate. Trilive is an accessible starting point for investors looking for high returns and consistent growth because of its attractive ticket size and affordable price of just Rs. 70 Lakh. Trilive's studios are situated in Marol, Andheri, close to 40,000+ businesses and three metro lines. They include modern designs, private balconies, and expansive views, while Housr offers a five-star experience that includes gyms, coworking spaces, tiny theaters, rooftop lounges, and more, all of which are controlled via the Housr app. Housr offers investors significant returns with minimal trouble by guaranteeing consistent rent, no vacancies, and no upkeep.

Kalpesh Mehta, Founder of Trilive and Tribeca Developers, said, "Tribeca was founded with a vision of giving the Indian consumer true global-quality trophy properties. Whether it’s Tribeca projects or our Trump-branded developments, each project becomes a landmark. With Trilive, we aim to serve the vast unmet need of working professionals in India – high-quality managed rental housing. I am pleased to announce our first project in partnership with the Starwing Group, a high-quality developer with deep roots in the Andheri market, and Housr, a company I co-founded 5 years ago."

Deepak Anand, Co-Founder & CEO of Housr, added, "Housr has been incredibly successful. After serving 15,000 residents, we know exactly what they want and can give them a high-quality managed living experience. With occupancy rates over 95% across 75 properties, we have more than adequately proven the demand for luxury-managed living. The biggest constraint to our growth is not demand but supply. There just isn’t enough quality supply of studio apartments to meet the demand. In a city like Mumbai, we couldn’t get a single quality building worthy of luxury-managed living for over 5 years. With this partnership with Trilive, we are looking at rapidly expanding by securing a steady supply of 7,000-8,000 beds across India in the next 2–3 years."

Rajeev Dube, Starwing Group, remarked, "I am thrilled to welcome Trilive and Housr into our i-Stay project in Andheri, Marol. This revolutionary concept serves two vast unmet demands, rental housing for young professionals and impressive residential returns for investors. Partnering with Tribeca and Housr brings a fresh, dynamic vision to Andheri’s skyline."