Square Yards Sells Real Estate Faster Than a Smartphone
NEW DELHI: Square Yards- real estate startup, today announced that they have sold 450+ units of inventory in Emprasa Smart City – an upcoming project dedicated to startups in Hoskote, Bangalore. The company executed a Global launch of the project from 27th to 29th November 22, 2015 simultaneously in 7 countries in 10 cities – London, Singapore, Dubai, Abu Dhabi, Doha, Hong-Kong, Oman, Bangalore, Mumbai & Delhi. This was the biggest realty launch ever done for an Indian developer organized by Bling Events – the event management arm of Square Yards – that has the reputation of bringing the best investment projects from India.
“We dreamt to take on a challenge, and surpassed even our expectations. This is the power of our global distribution network and passion of our team that made it possible. It marks a new era in Indian real estate now.” said a jubilant Tanuj Shori, CEO of Square Yards.
Suresh Rangarajan, founder of Emprasa Smart City, said – “This is something unbelievable. Kudos to the Square Yards team for making this happen.” Suresh has been a passionate & intense start-up professional. One of the early adopters to the internet world, he was part of the founding team of Citi-Times JV TimesofMoney.com. Under his enterprising leadership, remit2india went on to become World’s No.1 Online Money Transfer portal & one of the most successful internet businesses in India. Under his leadership, he steered Artha Group to become a leading real estate company in Bangalore.
This is how things unfolded:
The Product: Square Yards worked with the developer to structure a very unique product where in prospective investors were offered a unique chance to own a apartment with just 10% down payment, no EMI till possession and assured rentals up to 10% for 2 years after possession. The offer proved to be irresistible for the customers.
The Platform: Square Yards brought all the project inventory online through its proprietary e-commerce platform – Scapes™. This next generation platform made it very convenient for the customers to do real time inventory selection and book online through the payment gateway.
The Execution: Square Yards’ Global Intelligence Cell (GIC) enabled more than ~10000+ RSVPs and pre registrations before the launch. Square yards then organized a series of events in London, Singapore, Dubai, Abu Dhabi, Doha, Hong-Kong, Oman, Bangalore, Mumbai & Delhi where all pre-registered guests could come and discuss about the project and their preferences.
The Outcome: All records were shattered in 3 days – 450 transactions, 80 crores GMV – resulting in a total sellout of the available inventory. This event makes Square Yards a leader into the uber-competitive domain of online real estate.
Square yards has already taken a lead in the transactional real estate space. Started in late 2013 with just 3 employees, the real estate company took less than 2 years to become the largest player in primary residential sales. Today the company boasts of over 950 employees with 26 offices spread across 8 countries in the globe. The company recently crossed Rs 100 crores in annual revenues while being EBIDTA positive – the only company in online real estate space to do so. It has registered a whopping 220% y-y growth in revenues in first half of the year FY16 (and 87% increase compared to last six month of FY15). In next 12 months the company plans to hire another 500 employees in sales, technology & channel development.