He has been in the real estate business for almost 25 years and always he has been connected to the luxury segment of housing. When his younger son, Shantam, suggested they do student accommodation, he was very clear that they should get into the premium segment and not in the lower segment. This was also carefully planned because of his past experience in the industry from which he was sure he could create that quality of student experience that the Indian consumer had not seen, or experienced, before. Creating a luxury product is very difficult – especially creating a baseline product in the same business model i.e. disrupting an age-old industry. This is because one has to be of a very different mindset and be 100% committed to the concept in all aspects of the business to create that 360-degree premium experience.
Once they had finalized the concept, they were very sure that Tribe would be custom-built stand-alone structures and not part apartment buildings or makes properties taken on rent and converted into hostels. In his opinion, that’s really not a proper “Hostel” experience for a student as compared to well designed and custom-built student housing. Sharing spaces in residential apartments and other such avenues usually categorize the product under the “PG” model and is far from the experience of proper luxury student housing. It took months of hard work and research to create their first property. This was to create a benchmark that changes the entire perception of “Hostel”living and exposes the Indian student market to a completely different experience of living the best years of their student life, similar to what they would aspire to live in internationally.
To add to the design and architecture they focused heavily on the services and made sure that it all compliments the vision they had created for the luxury student accommodation space. It’s no secret that the next most important thing, after living amenities, is food. This in addition to services like housekeeping, fitness center, laundry, wifi, events, and, above all, the community feeling. The Community experience cannot be left for the students to create. It has to be an organized effort from the management and one has to plan it meticulously or else it can go wrong easily.
All in all, they are extremely proud of the fact that Tribe has created a wholesome premium student living experience and exposed the Indian consumer (student) and their parents to something that they would only see in movies or hear from their international friends or relatives. Their aim is to hit 3000 beds by 2022 and move internationally. They will also be expanding into the Co-Living sector very soon with a completely different model and experience in the luxury segment.
IFSC CODE : KKBK0000203
MICR No.: 110485046
Account No.: 08441011002829
Bank Name: Punjab National Bank
Branch: Vasundhra Enclave Delhi -110096
IFSC CODE : PUNB0084410
MICR No.: 110024579
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