Guesture Co-living
Rental shared accommodation.
Guesture is a 100 percent subsidiary of the Shanders Group, which has varied interests across manufacturing, agriculture, real estate development, defence and rental housing. Sriram started Guesture as the operating arm for Shanders' co-living venture.
Sriram, who was part of the Shanders Group established in 1918, felt investing in co-living could be the answer in a stagnating real estate market back in India.
He observed this phenomenon on his travels to the UK, Germany, and Switzerland in 2014.
Presently, the co-living industry in India is in its nascent stages. However, purpose-driven shared accommodation has been popular for quite some time in developed nations in Europe.
Co-living is fast becoming popular in India as urban youth and millennials increasingly opt for shared accommodation. OYO Life, NestAway, Zolo Stays, Stanza Living and other co-living ventures have already set up shared spaces across major Indian cities.
Bengaluru-based co-living company Guesture was born from Sriram's intention to bring hygienic, safe and good quality shared accommodation to the urban youth in India.
The project is anticipated to have rental housing facilities, infrastructure for academic organizations to set up campuses, innovation hubs, shared offices, co-working spaces, food courts, infrastructure for sports and events, and more.
With its expansion plans, Guesture is betting big on the growing market for co-living. Sriram believes the market size is huge and by 2020, 5.6 crore people will be urban, upper middle class citizens under the age of 35, making them prospective customers.



Comments
Post a Comment