How Service Apartment industry is taking shape in India

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Real estate has reached great height in India. However, there have been rising trends in the realty sector that attracts the investors. The territory of real estate market in India offers an array as per the preferences and budget. In reality, business Service Apartments are the perfect inclusion which is becoming the choice for those who are looking for a ‘home away from home’.

Service apartments are well-equipped properties that are fully furnished, are suitable for both short term as well as long term accommodation need of individuals, families, business travellers, etc. for a quality living. These holiday home lettings are elegantly built and have decent standard of facilities like house keeping services, round the clock security, home appliances, kitchen needs, laundry service, refrigerator, WiFi/ internet, toiletries, power backup system and much more. These apartments create the environment in a way that one gets a feel of being at home (with a hotel’s services).

These holiday apartments are desired option fulfills the need of a modern culture as well as foreign travellers as it does not let them compromise on their lifestyles while cutting down the chaos of shifting into a rented home (In Case of long stay/accommodation). These serviced apartments are even pocket-friendly and does not affect the budget ( the way a hotel room does ).

This new concept of serviced apartments, a.k.a holiday lettings has taken a pace in Indian real estate markets. All major cities like Delhi, Kolkata, Bangalore, Noida, Pune, Gurgaon, Chandigarh, Chennai, Hyderabad, Ahmedabad and Jaipur have seen a sudden burst in service apartment projects.

The charges for these rental vacation homes depends on the duration of stay. Although it is cost-effective for a longer stay, it is suggested to check the pricing carefully before booking to know what all services are included or excluded. These days one can also check/compare different service apartments that are available through online mediums and take the benefit of the available discounts/offers.

With the increasing demand for Short Term housing among traveller, hotel owners, major builders and people in this business vertical are finding a great potential in serviced apartments. Many real estate developers are hoping to invest in the development of serviced apartments and then leasing them out. There has been an upsurge in the investment flow for Serviced Apartments, and with the increasing trend of domestic leisure travellers it is expected that the inclination towards the service apartments will increase in comparison to hotels especially in the popular travel destinations like Goa as well as in Tier II and Tier III cities due to their comparative occupancy rates as compared to the hotels.

We can conclude that a Serviced Apartment is a brilliant investment option due to the high level of efficiency and profitability, eventually generating a good ROI. And it is anticipated that the industry has propelled the growth as compared to some major sector likes Manufacturing, IT and Tourism in India.

Olive Serviced Apartment is a prominent brand the hospitality industry. It is one of the top award-winning brands in the Indian Serviced Apartments industry catering to the enhanced growing demand for Serviced Apartments, Rental Vacation Homes & Holiday Homes in India. Incubated in 2010 by Blue Leaf Corporate Solutions P Ltd, a leading Mobility & Relocations Company with offices in Delhi, Gurgaon, Noida, Hyderabad & Jaipur, Olive has been rapidly expanded with an inventory exceeding 200 Beds & it has poised to record 100% YOY growth as Olive seek to expand further in other Indian cities this year including Bangalore, Chennai, Pune, Ahmedabad, Kolkata & Goa.