Bangalore: Imagine a paying guest space or a hostel, and you are imagining shared toilets, cramped rooms and cold water baths. But when you are speaking of shared accommodation to crème de la crème of Bangalore's citizenry, the IT or BPO sector, you surely have moved to a different league. You are speaking of 24-hour food courts, laundry facility, air-conditioned rooms, power backup and coffee vendors. In fact, you no longer call it a hostel, but a "speciality residential community".
Woodstock Ambience has come up with India's first shared accommodation facility for IT-E employees, barely 2.5 km from Electronics City in Bangalore. Targeted at young and single employees in their 20s, the accommodation matches the aspiration levels of this segment. You can't, after all, have a starting salary that hoi polloi would take 10 years to reach, wear branded accessories from head to toe and then live in a hole in the wall, can you? This is the logic behind coming up with this project, said Umashankar Vishvanath, vice-president, Marketing and Customer Relations of the company, here.
This will help the shocking attrition rate of the segment too, said CEO of Woodstock K.S. Ravishankar.
Even those amazing starting salaries won't make up for the neck-breaking ride to and from Electronics City every day, about an hour-and-a-half each way. So, an accommodation close to work for young and single employees, who make up most of the workforce in this sector, is a crying need. Woodstock wants corporates to use this facility "as a tool against attrition" and therefore, is not renting out rooms on retail to individual employees.
The facility on the 2.5-acre plot, with a capacity to accommodate about 1,000 people, will be thrown open in about three months. The price tag for each room is, of course, in keeping with the hi-tech ambience, between Rs. 10,000 and Rs. 30,000 a month.