Boston Living inks pact with GMR Aerocity to develop co-living and serviced residences

Hyderabad, Aug 4 (UNI) Boston Living – an incubation venture of INCOR Group, operator of one of India’s largest single location co-living facility, signed definitive agreements with GMR Hyderabad AeroCity (of GMR Group) to develop co-living and serviced residences and provide high quality and safe rental solutions for young professionals in Southern Hyderabad.
The new project will be “The Landing by Boston Living” and as part of the agreement, GMR Hyderabad AeroCity will lease land to Boston Living to develop 0.5 million sq. ft, the company said in a release here on Wednesday.
A first of its kind, the co-living and service residences will roll out 1,500 beds over multiple phases with an investment of 250 crores.
The agreements were signed by Mr Aditya Surneni, Director/COO, Boston Living and Mr Aman Kapoor, CEO, Airport Land Development, GMR Group.
Mr Aditya Surneni, said this project is going to be a one-of-its-kind property, at par with international standards. We are expecting to complete the first phase of this project during the third quarter of FY 2022-23, and we are also happy to associate with AssetMonk, the fintech platform, as our asset managers for this highly coveted property.
Boston Living will address the short, medium and long term rental accommodation needs of GMR Hyderabad AeroCity and the southern Hyderabad micro-market.
Boston Living, an incubation venture of INCOR Group runs one of India’s largest single location co-living facility of 500 beds at Kondapur in the city.
Spread across 1,500 acres, GMR AeroCity Hyderabad is envisaged to be an integrated mixed-use development, which includes key ports and establishments — Business Park, Retail Village, Aerospace and Industrial Park, Logistics Park, Hospitality. GMR Business Park, the office district is spread across four Towers being developed in phases, with Tower 1 fully occupied and Tower 2 ready for occupancy. GMR AeroCity Hyderabad has been seamlessly designed as the future business corridor.