The outbreak of Covid-19 seems to have impacted all of the sectors gravely including the real estate. While the commercial and residential market are both facing a slump in sales and might continue witnessing so in the coming months as well, student housing start-ups are making most of the situation and turning tides for themselves.
With almost all of the cities in India locked down, many students and young professionals are being asked to vacate their hostels or PG (Paying Guest) in metro cities such as Bengaluru, Hyderabad and Pune. In light of these concerns, New Delhi-based shared living start-up Stanza Living is offering accommodation along with discounts and flexibility. Since timely sanitation of the rooms is crucial especially at times like today, the start-up ensures that all the rooms are duly cleaned.
“I’m in a relaxed frame of mind in this current situation, when PGs and hostels are asking people to vacate and finding good quality accommodation is a challenge. They have been sanitizing each room every single day and providing each resident with all required precautions,” said the 21 year old Ravi kumar Sunkhesvarapu, and IT employee from Ongole in Andhra Pradesh who moved into the residence offered by Stanza Living.
The start-up also plans to establish quarantine facilities. Ever since it was founded, it has expanded its presence in around 10 cities and with the temporary lockdown, it is all set to give a hand to the local authorities and government and allocate its available residential spaces for quarantine purposes if need be. “We intend to support the people who have been left stranded or are facing accommodation challenges because of reasons not under their control. We are offering some of our new Stanza Living residences across over 10 cities to any such person who needs a place to stay, with immediate effect,” said Anindya Dutta, MD and co-founder of Stanza Living.
In addition to Stanza Living, Bengaluru-based start-up Nestaway Technologies has also welcomed the PG residents. It has also proposed to offer $1 million in waived fees and service charges for new tenants moving into its residence during the crisis.