Tribeca Developers has entered the rental housing segment through a partnership with Housr, a luxury serviced apartment operator.
It has launched “TriliveAndheri,” a pre-leased serviced apartment project located in Marol, Andheri (Mumbai).
The development will consist of 650 fully furnished studio apartments of 200 square feet with average prices of ₹70 lakh. According to Tribeca, the project is structured as a fully managed, pre-leased residential offering with a rental yield upwards of 6 per cent including a built-in annual rental escalation of 5 per cent.
The apartments will be managed by Housr, which will sign a 9-year lease agreement with each unit purchaser at the time of sale, providing buyers with assured rental income. The project is expected to generate a topline of ₹300 crore.
Trilive is a newly created arm of Tribeca Developers, formed specifically to focus on pre-leased rental housing. The company is targeting young professionals in urban centres who seek fully managed living spaces with integrated amenities.