Union Living, a leading co-living startup, announced the launch of 500 bed co-living properties in Mumbai and Pune. These build-to-suit properties include 'Southside' in Mahalakshmi with 200 beds, 'Terra' in Juhu with 150 beds, and 150 studio apartments in Koregaon Park, Pune. Co-founded by Rishab Soni and Parth Soni, Union Living aims to enhance the co-living experience for students and young professionals. With a focus on modern, secure, and customised accommodations, the company's expansion will increase operational beds to 1,500 by June 2024. Pioneering the build-to-suit concept, Union Living's properties prioritise functionality, efficiency, and tenant satisfaction, reflecting their commitment to redefining co-living standards.
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Union Living, a pioneering co-living startup, is set to revolutionise the living experience with its innovative build-to-suit (BTS) co-living housing properties in Mumbai and Pune. These properties will include 'Southside,' a 200-bed facility in Mahalakshmi, Mumbai, 'Terra,' a 150-bed facility in Juhu, Mumbai, and 150 studio apartments in Koregaon Park, Pune.
Dedicated to enhancing the co-living experience, Union Living aims to provide modern, secure, and customised accommodations tailored to the needs of students and young professionals. Co-funded by Rishab Soni and Parth Soni in 2020, the startup is expanding its portfolio with these new beds. By June 2024, the company's operational co-living beds will increase to 1,500 across nine properties in Mumbai and Pune.
Union Living caters to both students and working professionals, offering rental accommodations starting at INR 20,000 per bed, with rates going up to INR 45,000 per bed. Short-term stay facilities are also available.
The increasing demand for co-living spaces and build-to-suit properties is driven by factors such as urbanisation, rising student and working professional populations, and changing lifestyle preferences.
Parth Soni, co-founder of Union Living, said that this is a first-of-its-kind build-to-suit co-living accommodation in Mumbai. These places are designed in-house by their dedicated team of architects, in collaboration with a panel of students, so as to ensure their specific needs and preferences are seamlessly integrated into the design.
Rishabh Soni, co-founder of Union Living, highlighted the benefits of build-to-suit properties, emphasising superior space utilisation, custom-designed layouts, and enhanced functionality and efficiency. He noted that such properties can accommodate additional amenities and features, enhancing the overall user experience. With long-term lease agreements, build-to-suit projects provide stability and predictability for rental income, maximising space utilisation, design flexibility, and financial benefits for operators, investors, and property owners.
Union Living's BTS properties are scheduled to go live in May 2024 in Mahalakshmi, with plans to sign an additional 1,000 beds in the near future. These developments signify the company's commitment to expanding its footprint and enhancing the co-living experience across Mumbai.
In addition to the prime locations of their properties, such as Electronic City and Mahalaxmi, Union Living's accommodations are conveniently situated near educational institutions, shopping centres, supermarkets, and entertainment venues, providing residents with easy access to essential amenities and a vibrant lifestyle.
Union Living's innovative approach underscores its commitment to delivering exceptional living experiences. By combining quality construction, thoughtful design, and personalised services, Union Living aims to redefine the standards of co-living in Mumbai and beyond.
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