Square Yards and how it'll unify the real estate market in India

February 4, 2019
Share this Post: 

Indian real estate marketplace, Square Yards, has reported that the company grew 75% in 2018, and has far surpassed the previous year's gross transaction value, which facilitated over ₹1,100 crore (approximately US$153 million) in real estate transactions.

The company also announced recently that its India Primary, NRI and Mortgages business also registered a GTV of around ₹5,000 crores (approximately US$697 million) in the same time frame.

However, back in 2014, the company was only 3 members strong, an underdog that began in Hong Kong. Now, the company employs over 2,200 employees and operates in over 10 countries worldwide. With a presence in 13 international cities, such as Abu Dhabi, Sharjah, Muscat, Melbourne, Singapore, Sydney and Toronto, the company has begun the expansion plans that afforded the growth of last year.

The company then acquired multi-country real estate licenses and entered into collaborative arrangements with leading International developers. Through these agreements, Square Yards were able to secure exclusive and territorial selling rights, permission to conduct events and road-shows and facilitate e-commerce transactions.

Analytics India Magazine got in touch with Vivek Aggarwal, the co-founder of Square Yards, To know more about the company’s journey from a nimble startup to an unstoppable force fueled by data analytics and proprietary technology.

Background

The firm’s primary business models were real estate and mortgage terminations. Later, Square Capital sprung up to handle mortgage-related financial services as well. Here, Square functions as a distributor, with their primary goal being to tie up with principals. This includes real estate developers and FSIs such as banks. They achieve a worldwide distribution of their products by utilizing PropTech, with their primary source of income being closing deals with principals. This allows them to provide their services without charging the customers, thus increasing their reach.

Agarwal provides insights on the real estate market, stating, “Traditionally, real estate and mortgages are slow to adopt the technology. They are not really using technology at scale. From the very beginning, we were clear that we would bring technology and analytics and scale our business based on these fundamentals. We were able to very successfully do this over the last few years, and our entire business now runs on tech.” This, according to Agarwal, is one of the key differentiators that allows them to bring innovation to the market. The other is execution, he says. This sets Square apart from the incumbents and other startups in the market, as they have executed the business based on strong business fundamentals and sticking to the unit economics.

Agarwal details that real estate was the primary focus of the company was starting with real estate, with mortgages coming later. He said, “The idea was to understand the value chain. So as to better control the product selection, reduce our own tax for disbursement, and pinpoint some pain points.”

Read more here

Join us in Bangkok the 19th to the 21st of March for the Property Portal Watch Conference.

Property Portal Watch Bangkok Conference. Mar 19-21, 2019

February 4, 2019

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Propertyguru Board Room
PropertyGuru Appoints REA Group CEO Owen Wilson to Board of Directors as a Non-Independent Director

Southeast Asian property portal operator PropertyGuru has announced the appointment to its board of REA Group CEO Owen Wilson. Wilson...

Read More
La Haus Queretaro
La Haus Growing Fast and Looking to Add Financing Products

Colombian PropTech startup La Haus has expanded to another Mexican city and is looking to increase the financial solutions it...

Read More
Rae Group Mortgages
REA Group to Consolidate Mortgage Brokerage Offering Under One Brand

Australian portal operator REA Group has announced that its mortgage brokerage business will operate under one brand. In 2017 REA...

Read More
Zillow No Sale
Zillow Pauses Homebuying Citing "Operational Capacity" Issues

Zillow has paused its home buying activities as its iBuying division works through a backlog of homes already on the...

Read More

Popular News