Tribeca Developers has entered the rental housing segment through a partnership with Housr, a luxury serviced apartment operator.

It has launched “TriliveAndheri,” a pre-leased serviced apartment project located in Marol, Andheri (Mumbai).

The development will consist of 900 fully furnished studio apartments starting at 165 square feet with prices beginning at ₹65 lakh. According to Tribeca, the project is structured as a fully managed, pre-leased residential offering with a rental yield upwards of 6 per cent including a built-in annual rental escalation of 5 per cent.

The apartments will be managed by Housr, which will sign a 9-year lease agreement with each unit purchaser at the time of sale, providing buyers with assured rental income. The project is expected to generate a topline of ₹300 crore.

Trilive is a newly created arm of Tribeca Developers, formed specifically to focus on pre-leased rental housing. The company is targeting young professionals in urban centres who seek fully managed living spaces with integrated amenities.

Kalpesh Mehta, Founder of Tribeca Developers, said, “The demand for studio apartments among young professionals in India is immense, yet supply is scarce. With Trilive, we are aiming to address this demand while also offering investors an asset class that combines the predictability of fixed-income returns with the potential for real estate appreciation.”

The Trilive Andheri project is positioned to offer long-term rental security for buyers by eliminating common concerns such as property vacancy, tenant search, and maintenance, according to Mehta.

The development is tailored to meet the needs of working professionals by providing a self-contained living experience, with a range of amenities designed to reduce the need for residents to leave the premises.

Tribeca Developers, known for its association with Trump-branded projects, is currently developing over 6 million square feet of residential real estate across India with a total sales value of ₹6,000 crore. The company is backed by financial institutions including ICICI Bank, HDFC Capital, Tata Capital, and KKR.

Published on April 7, 2025

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