Online Real estate startup Square Yards, which has also evolved as more of transaction platform recently, said that it has sold over 450 apartments in Emprasa Smart City — an upcoming project dedicated to startups in Hoskote locality of Bangalore — in a matter of just 3 days.
Developed by the Artha Group, the Emprasa Smart City is an up and coming project dedicated — is what may be a first — to startups in Hoskote, Bangalore, with Square Yards — itself a start-up — given the mantle of ensuring that the real-estate being developed found appropriate buyers.
First up, Square Yards put its head together with the developers to map out investments opportunities that would prove just right. For example, 10% down payment, no EMI till possession and assured rentals up to 10% for 2 years after possession — What more could you ask for?
Next up, all the project inventory was purchased via Square Yards very own proprietary e-commerce platform — Scapes™, which made the whole process extremely convenient for the customers by facilitating real-time inventory selection as well as an online booking process.
Finally — and this is where the most of the painstaking work that went into the background came to fruition –the company advertised, and advertised, finally Culminating with a grand, global launch of the project staged from the 27th to 29th November, 2015 simultaneously in 10 cities in 7 countries – London, Singapore, Dubai, Abu Dhabi, Doha, Hong-Kong, Oman, Bangalore, Mumbai & Delhi.
Tanuj Shori, CEO of Square Yards says-
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.
Square Yards brought all the project inventory online through its proprietary e-commerce platform – Scapes. All records were shattered in 3 days – 450 transactions, 80 crores GMV – resulting in a total sellout of the available inventory.
The company recently crossed Rs. 100 crores in annual revenues while being EBIDTA positive. It has become the only company in online real estate space to register a whopping 220 percent year on year growth in revenues in first half of the year FY16.
In next 12 months, the company plans to hire another 500 employees in sales, technology and channel development.