Set to come up in the heart of the city’s financial district, the Rs 1,500 crore project has been designed by acclaimed international architecture firm Chapman Taylor and is expected to be ready by 2026 with a monthly rental of Rs 26,000 to Rs 36,000 per bed in a twin sharing room.
The project has been approved by Telangana State Real Estate Regulatory Authority.
“We are partnering with global hospitality major Oakwood to manage the project. The firm has already signed a letter of intent and the final management contract is expected to be signed soon,” said Bhavishya Gupta, founder and managing director of Sensation Infracon Private Limited that is developing the project. According to him, H1 will be the world’s tallest co-living space at 160 metres.
“We are largely targeting young professionals and students who migrate to Hyderabad for work or education. We hope to provide them with a safe place to stay, socialise and network. It’ll be maintained as a drug-free zone and security of women residents will be our priority,” Gupta said adding, “We will not tolerate any discrimination and anybody looking for lodging, irrespective of sex, religion or sexual orientation, will be welcomed.”
Of the 47 floors, 41 floors will house residents – with five floors dedicated exclusively to women – while the rest will comprise food and beverage outlets, club, gaming zone, parking, and other recreational fixtures.
Speaking about the project, Sapna Kumar, director of Chapman Taylor in India, said it was a first-of-its-kind branded co-living space project. “It is very aspirational and something India hasn’t seen before. It is on the lines of premier community projects in the UK,” she said. The project has been given gold certification by the Indian Green Building Council.
Industry analysts feel the project can further bolster the growth of co-living in India – a concept fast picking up pace across metro cities. “Pre-Covid-19, we had seen the demand for such managed spaces rising substantially. While the pandemic put things on the slow lane, it is certain to bounce back once offices start opening up again. If the project delivers on its promises, it is sure to be a huge hit,” said a realty consultant from Hyderabad.