"The concept of service apartments is immensely popular in the West,
offered to professionals visiting the city for a short period,
stretching to a maximum of six months. This module works in IT parks
such as Hinjewadi, as there is a constant movement of professionals from
other cities for projects etc," said Amol Parkhi, partner, Sorrento
Service Apartments. He added that being located close to the IT
Park is an added advantage as corporates look for accommodation close to
their offices. Most of the serviced apartment owners enter into deals with corporate firms, as it benefits both. "We have deals with companies such as Wipro, Cognizant
and Accenture for a period of one to three years. This assures us of a
fixed rent and the companies have a confirmed service apartment," said
Arun Mandiyar, property manager of the Humming Bird Service Apartment in
Hinjewadi.
GROWTH POTENTIAL Sunil Kanal, owner, Nest
Service Apartments in Hinjewadi, said that serviced apartments have
witnessed growth in the area for the past three years and has a great
potential in the future. "When we launched in 2009, there were only two
players, but now there are at least 15 players." Explaining the
reason for the rise in demand of service apartments besides it being
cost-effective, he said, "Personalised services in a home-like private atmosphere
is a major reason for the rise in demand. We provide all basic services
required by an executive from air conditioning to Internet,
housekeeping services, a personal kitchenette and other comforts,
besides security."
The rentals
per month range from Rs 30,000 to Rs 50,000.
"The longer the period of
accommodation, lower is the rental cost per day. When deals are
negotiated with companies for a period of one year or more, then we come
to an agreement of fixed amount with them, which is still around 60
percent lower than a four-star hotel accommodation," said Shilendra
Kumar, operations manager, Mint Hotel, which in the three years of its
launch in Hinjewadi has had dealings with more than 80 IT companies
there and has seen around 90 percent occupancy on an average.
There are also many low-end service apartments with less number of
services, but they take care of all the basic needs of employees.
"We
furnish paying-guest style rooms, more suited for entry level employees,
who come for training or a project. They like reasonable rates with
basic services. We have a common mess, a common TV area and housekeeping
services. Meals are affordable, and hygiene is taken care of. Residents
enjoy home-made food, mostly prepared by the villagers living around
Hinjewadi," said Mahendra Ashtekar, owner, Kumar Guest House. "Many of
the villagers are loaning their properties for this segment of service
as they have realised that this is a big source of income for them. If
the roads around the IT Park become more developed, it will boost the
demand for these guest houses further," he added.To know details visit our site http://allindiayellowpage.com.