Tribe launches a students’ hostel in Pune, which is co-living and well-furnished. Students aged 18 to 22 will be allowed to stay in the hostel, which will have 210 rooms. In addition, the company will now have real estate property in Pune. It recently entered the co-living segment and raised $1.5 million in private equity and structured debt.
“We have raised multiple rounds of funding for our operation and are looking to raise about $10 million for further expansion,” said Shantam Mehra, co-founder of the company.
In the upcoming years, Tribe plans to set up hostels and provide more than 20,000 beds for the student community in 20 more Indian towns with educational institutions, including Delhi, Bengaluru, Dehradun, Chennai, and Vellore.
India now has almost 34 million students enrolled in higher education. Still, there are only a few alternatives for lodging: basic campus accommodation, private hostels, and residential projects in Pune as a paying guest model. The need of the hour is for high-quality housing specifically designed to meet the needs of students.
The details were provided by Tribe’s CEO and co-founder Yogesh Mehra at a press conference held in Pune today. Co-founder Shantam Mehra, head of marketing Aman Mehra, and director of finance Niraj Bora were in attendance as dignitaries.
Tribe Student Accommodation, the only premium student housing brand in India, provides various services and amenities expected to revolutionize the student housing market as an asset class. However, a setting optimal for students’ complete growth is just the beginning.
Tribe student hostel goes beyond air-conditioned rooms with a suite bathroom to augment the student living experience, bringing it to a level with the world’s best. The best property in Pune includes laundry facilities, cleaning, a fully-equipped gym, job fairs, and counseling. In addition, each Tribe location has a 24-hour café with excellent cuisine, IT-standard Wi-Fi, entertainment spaces, and study facilities. The first lodging option will introduce in Pune this month.
According to Yogesh Mehra, co-founder of the business and a real estate veteran with more than 20 years of expertise, this asset class aims to enable holistic living for all students. Mr. Mehra, who has established himself as a pioneer in introducing future trends in this industry, thinks that if India focused on enhancing the total experience of career-aspiring students, it might become an education center in South East Asia. The tribe wants to make this possibility a reality.
Tribe student hostel offers top-notch, secure, hygienic, and well-designed student housing to improve the quality of a student’s life and offer maximum convenience and peace of mind to students and their parents. Tribe student hostel is created after extensive research and analysis of the exact pain points of the student living experience given existing lodging options.
Tribe improves the experience of living in a dorm for students into a community that flourishes together. It was created for the discerning. It provides a “home” for children to lessen any remaining classroom stress while promoting independence and personal accountability.
“In addition to research, we started securing funding for our 194-bed trial project in Viman Nagar, Pune. After making presentations to several institutional and individual investors, we obtained an initial investment in June 2018 at a 20CR value. After that, we secured a second round at a 35CR valuation, which helped us reach our debut with 825 beds, according to co-founder Shantam Mehra.
The firm established Tribe’s first location in Pune and will soon expand to several other university towns and cities, including Indore, Bengaluru, Delhi NCR, Mumbai, and Chennai. Tribe launches a students’ hostel in Pune, which is co-living and well-furnished.
Every venue built under this brand will be of a consistently high standard, with the same top-notch amenities that are benchmarked internationally and aim to improve the quality of student life in India. Moreover, each site’s daily operations will be overseen by qualified personnel to guarantee that standards are upheld everywhere.
All campuses have access control and CCTV systems connected with RFID wristbands to track every student. So that students may focus on their studies, concierge services take the burden out on little details. Female security personnel and cleaning workers are employed, and female students are housed on different levels with total access control. Additionally, there are always emergency and medical services accessible.
The university academic year’s 6-month and 12-month stay packages start at Rs. 1,17,000 and Rs. 2,10,000, respectively. During the summer break, partnerships with hostels and IT firms will enhance occupancy by implementing a daily fee model.
Tribe student hostel is meant to be a cashless and keyless campus, with all payments and access available solely via an RFID band. It is an excellent example of utilizing technology. You may top up this band online, and both parents and students can do so by using a unique website and app. Another plus is an online student portal with dashboards for meal consumption, attendance, feedback loops, inquiry lists, and other data.
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