The Safehouse PG, a Gurgaon-based real-tech business, assists students and singles in finding affordable housing with nutritious food.
A Quick Look
Startup: The Safehouse PG
Founder: Narender Gahlyan
Year it was founded: 2015
Where it is located: Gurgaon
The problem it solves: Helps students and singles find housing that includes food.
Funding: 5 million
If you are a student or an employee who works somewhere other than where your family lives, this Gurgaon based company will provide you with your basic needs of food and accommodation. Most bachelors and students struggle to find a practical and inexpensive place to be. In addition to serving delicious meals.
The increasing urbanization has also led to an increase in coexistence sector in India, similar to the concept of co-working. Safehouse PG has carved out a niche for itself in the coexistence market.
The founders and team
Narender Gahlyan launched the company in 2015 after obtaining a master’s degree in Hospitality Management at Kurukshetra University. Then, from 2009 to 2011, he worked as a manager at Domino’s in Gurgaon. The company currently has 70 employees spread across Gurgaon. They started working on the same lines as the OYO rooms, but soon expanded to 500 beds. They have reduced inventory to zero to switch to an “integrated” business model, where the company handles additional customer experiences such as meals, DTH, cleaning, WiFi, community activities, etc.
How it works and what makes it unique
Narender explains the working of The Safehouse PG.
We rent small buildings like G+5 and G+4 where premium amenities like gym, sports area, etc. are available. These buildings consist of 20-50 rooms.
For twins, recent graduates generally opt for the standard segment, which costs Rs 6000 to 8000 per month on average. On the specific side, it averages Rs 12,000 per person. Our accommodation is in Gurgaon. As of today, there are 500 beds,” Narinder reveals.
The lease term with builders is usually three to nine years, while the contract with clients is 11 months. As part of the rental agreement, a one-month security deposit is required. Dining, cleaning, DTH, WiFi, concierge, repairs and maintenance are among the six services offered. The company’s food is a mixture of South and North Indian cuisines with some regional variety.
“Our prices are about 25% cheaper than industry standards with very good customer satisfaction,” Narinder adds differentiation.
Revenue, competition and market
Customers pay for services and rents on the site, which generates money, according to Narinder. Over the past three years, the company claims to have helped 2,000 people in Gurgaon find quality and affordable housing.
In India, the guest industry is very unregulated and there is a huge shortage of economic living space. With dirty rooms and little interest in food, The Safehouse PG recognized an opportunity to organize the market.
In India, the PG and hostel market is expected to be worth $40 billion, growing at a rate of 16-18 percent annually. There are some competitors, such as Zolo, CoHo, Stanza, and others. On the other hand, Safehouse PG claims to be the largest PG provider in Gurgaon, with more than 500 beds.
By December 2022, the company expects to expand to nearly 2,000 beds.
“We also plan to venture into Kuta,” Narinder says. Student cities are places where the number of students exceeds the number of professionals. Also, we want to go further for young professionals in existing cities. The more options we look for in a city in our industry, the better.
Our specialists at Safehouse PG spare no effort to help you find and move into your new property without any hassle. From dedicated relationship managers to secure online payments, every aspect of your relocation will be a hassle-free journey with us, that’s guaranteed.
About Safehouse PG
The company originated from the idea of making home searching easy for individuals (including singles and single women) and families for whom finding perfect housing in a good location was nothing less than a nightmare.
From finding the property to completing the necessary paperwork and the actual alteration, The Safehouse PG strives to alleviate the hassles of finding the right property. We have PG’s All over Gurgaon, including Cyber City Phase 1.
Backed by nearly 8 years of extensive experience in the growing Indian real estate sector.
Safehouse PG has high technology to make the home search possible for both boys and girls and families who are looking for rooms, independent apartments or fully furnished apartments for study, work or a normal life.