Curated Living Solutions & BNMV Trust partner joins to build student living project in Juhu

The curated living solutions Pvt Ltd has teamed up with Shree Banbai Nenshi Trust (BNMV) for a 10-year lease on a student living project in Juhu area of Mumbai.

In a media statement JLL The purpose-built girls' hostel by BNMV Trust contains a total number of 325 beds and it is spread across a built-up area of 1 lakh sq ft. The facility is located in the Juhu - Ville Parle area.

JLL, a prominent real estate consultancy, played a key role in facilitating a new collaboration between CLSPL and BNMV Trust to develop a student housing facility on Gulmohar Road in Juhu. This facility is strategically located to cater to the needs of students from nearby educational institutions, such as NMIMS and Mithibai College. 

The new project will be a dedicated girls' hostel, featuring 325 beds. CLSPL, with its specialized experience in designing, developing, and operating student accommodations, will manage the facility. This new hostel aims to address several issues faced by female students, including the scarcity of affordable, safe, and comfortable housing options close to their educational institutions. Currently, the market is largely dominated by informal paying guest (PG) accommodations, which often lack the structure and amenities required by students.

The student housing market is expected to expand due to a current deficit of over 7 million beds. With student enrollments projected to exceed 70 million in higher education and migrant students making up more than 40% of the population, there will be a significant need for formal housing options beyond existing institutional capacities. Additionally, student housing rentals have been rising steadily in the post-pandemic period, with an annual growth rate of 10-15%, according to JLL.

Karan Singh Sodi, Senior Managing Director, Mumbai MMR & Gujarat, and Head - Alternatives, India, JLL, said, The deal is a strategic step for building profitable off-campus student housing projects. Student living solutions such as the Ivy League House are the need of the hour in today's rapidly changing education ecosystem. The pool of students who come from other cities to study in Mumbai, they look for sustainable and affordable living solutions.”