Buying a property in India is one of the most complicated procedures and what should have been one of the most pleasant and memorable experiences for the family, often ends up being one of the most harrowing ones. The home buyers have to deal with unscrupulous developers if they are unfortunate and there is always the thought of risking everything at the back of their minds, considering that buying a home is indeed one of the biggest investments that a person or family makes in their lifetime and it often includes their life’s savings.
Unfortunately, this happens to be an industry that is led by societal factors and there is no help from anywhere, with little to go forward with. There has always been data discrepancy and there has never been any organized distribution. Their own personal woes had led Tanuj Shori and her wife, Kanika Shori to lay the foundation for Square Yards in 2013, with the aim of providing home buyers the correct information, and the relevant property details which would help them in their home purchase. They had started with only 3 employees with no idea that it was to set a benchmark in real estate in the very near future.
As of now, Square Yards is the largest of the proptech companies in the country and there are over 2400 people directly employed under them. Their operations have spread over 10 countries and 30 cities and they have managed to create an integrated model. They have now managed to create a niche for the under-construction market, with 1 million plus visitors a month to their website and the company has touched 30 million dollars in revenue annually. There has been transaction value worth $750 million with 12000 transactions only. It has now moved beyond the Indian real estate and entered the international real estate sector as well. It has found takers largely owing to the fact that they provide a complete chart for the buyers, right from their home search, through transaction and post- sales services as well.
The truth is that various challenges are now facing the real estate sector but that only provides more room for improvement and a greater scope to work and set things right. It provides a solid ground to learn and evolve and since the real estate sector is so dynamic, there is never a dull moment! According to Tanuj Shori and his wife Kanika, the experience has not only been unique, but also a most rewarding one. They have finally managed to create transparency in this highly unorganized and chaotic industry by citing how developers operate, how consumers look forward to their purchases and how distribution needs to evolve, not to mention that it has also managed to convince a bunch of talented youngsters to make a career in real estate.
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.