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Co-living Startup -The Livlit Adds New Properties at Prabhadevi and Kharghar

Mumbai, May 21, 2024: The Livlit, a start-up in co-living space, announced acquisition of new properties in Prabhadevi and Kharghar in Navi Mumbai, and plans for further development in key micro markets across the city.

With three thriving properties already established in Fort, Ballard Estate, and Upper Juhu, The Livlit, a co-living start-up, currently offersmore than 400 beds, catering to the accommodation needs of students and working professionals. 

Mayank Bajaj, Founder, The Livlit, said that the brand is re-defining the concept of co-living by offering a state-of-the art experience that marries comfort and convenience. “We are creating a paradigm shift in the way co-living was seen all these years. The Livlit offers an unmatched experience through its professionally managed spaces with facilitieslike swimming pool, gym, library, clubhouse, unlimited laundry and electricity. All these conveniences under the comfort of one roof, will ensure that occupants, both male and female, get an experience that is a rarity in the industry.”

The property in Kharghar spans across seven floors and 12,000 square feet while the one in Prabhadevi is over 25,000 square feet. 

Commenting on the expansion strategy, Udhav Mansinghka, Co-Founder, The Livlit, said,“We’re thrilled to expand our footprint in Mumbai’s co-living market with the addition of our new properties in Prabhadevi and Kharghar. This marks another milestone in our journey to redefine urban living by offering premium accommodations with top-notch amenities and a focus on resident satisfaction. In addition to the new properties, The Livlit is actively exploring opportunities in other micro markets across Mumbai.”

At its inception in 2021, the start-up had a 22-bed property and a current annual turnover of Rs 4.00 crores. With the upcoming expansion, The Livlit projects a turnover upwards of Rs 10 crores by March 2025.