Square Yards, one of the largest proptech startups in India had opined that its international property business had recorded a 75% growth in 2018 as compared to 2017, with over Rs 1100 crores in gross transaction values. The international business mostly looks to facilitating the sale of overseas properties in their respective locations. It also announced that there has been a sharp increase in its other aspects of businesses as well like the India Primary, NRI and Mortgages among others, and the registered GTV has been an impressive 5000 crores for 2018.
Tanuj Shori, the Co- Founder and CEO of Square Yards had been extremely content with the performance of 2018 and considers this to be a major milestone in the company’s journey. Moreover, they have stressed that they have used the same techniques that they have been using in India, using the same sourcing of off-plan primary inventory and tech- led demand generation for their overseas market as well. There has also been a significant addition to the teams and there is an impressive network of agents who are working round the clock to make this happen. According to him, the segment has been instrumental in its contribution, with 22% of both GTV and revenues for the year 2018. The next aim of the company is to further build on these positive points and achieve new targets in Global Real Estate and property transactions in 2019, independent of their Indian operations.
As of now, the international city leading in its contribution to the increasing GTV of Square Yards is Dubai, and Toronto and Melbourne come next. NRI operations have also significantly increased in 13 other international cities which includes Kuwait, Hong Kong, Singapore, Abu Dhabi, Sharjah, Sydney, Muscat, Doha among others. What Square Yards has managed to achieve is also quite unique because it is offering a detailed and comprehensive list of international properties based on their portfolios and they are doing this by analyzing multiple investment parameters. They are also carefully looking for opportunities over various asset classes to determine the sales pattern and this has greatly increased their credibility in the international market.
Square Yards is aiming to be platform that will cover the full real estate dealing process from the point of view of the home buyers, starting from property search, location of property, payment and transactions, mortgages and post- sales services as well, thereby connecting the buyer to a network of partners. The home buyers in the international market are happy to find a platform where the property search has not only been made easier, but it has become a one stop destination for all the relevant information about a developer or the locality as well, greatly strengthening the scope of Square Yards in the years to come.
Square Yards is a technology-enabled, global real estate aggregator and India’s largest player for primary residential real estate. It’s subsidiary Square Capital is one of the largest marketplace for secured mortgages in India. Square Yards platform offers an integrated consumer experience & covers the full real-estate journey from search, discovery to research, transactions, home loans and post-sales service – fully integrating buyers to an extensive network of 500+ partner real estate developers, and 90+ banks & NBFCs. Square Yards is led by accomplished professionals, ex-bankers, and Ivy school alumni and is backed by the competence of more than 2500 employees in 30 cities and ten countries.