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The startup story – The Hostel Yard
October 3: The Hostel Yard started in 2017 and was founded by Niketan Singhania, an SRCC (Shri Ram College of Commerce) alumnus, who is an astute and ingenious businessman having competence in technical, marketing and on-ground real estate domain. The Hostel Yard (www.thehostelyard.com) is a tech-enabled platform that works on a community-living model for students […]
October 3: The Hostel Yard started in 2017 and was founded by Niketan Singhania, an SRCC (Shri Ram College of Commerce) alumnus, who is an astute and ingenious businessman having competence in technical, marketing and on-ground real estate domain. The Hostel Yard (www.thehostelyard.com) is a tech-enabled platform that works on a community-living model for students and working individuals with an intent to provide them with premium & affordable housing facilities. It breaches the contrasting gap between the comfort of home and the clustered condition of unhealthy accommodations provided to migrated people, especially students, who have just set their foot out of their homes to the crowded cities. Niketan Singhania’s inherent focus has always been to bridge the gap with brainstorming ideas that could serve the students & working individuals with cost efficiency to ease the daily hustle-bustle of life. Niketan’s ideas are embedded in his deep market analysis, which states- “India has over 50,000 colleges and more than 36 million students. Institutional hostels accommodate around 3.4 million students, whereas the requirement is for over 10 million beds.”
The Hostel yard operates by aggregating, tying up and leasing properties from the building owners and then revamping the entire old structure in accordance with The Hostel Yard’s set standards taking into consideration the student needs. Furthermore, the properties offer benefits like a homely feeling, quality assurance, transparency with pricing, hygienic and healthy food cooked by professional chefs, guard on the gate for security, biometric access for safety purposes, daily housekeeping service, laundry service, medical aid, high-speed Wi-Fi, well-furnished rooms with air conditioning & geyser, personal washrooms, gaming zones, gym facilities, free library subscription, terrace garden amongst other things. Moreover, It also celebrates festivals unbiasedly and conducts parties and games for the jollification of its tenants with a touch of home along with maintaining safety and covid protocols within the properties.
The innovative idea behind ‘the hostel yard’ spring into existence upon the realization by the founder that the choice for most off-campus housing currently was either restrictive through college hostels (which cater to 20-25 per cent of the capacity) or unstructured PG accommodation, neither of which served the needs of the student population. The Hostel Yard platform aims-“to create an entire ecosystem that addresses the needs of the student market.”
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