“For this, we are looking to invest ₹1.25 crore per office and will hire around 15 employees for each centre,” he told BusinessLine.
It currently operates out of two offices — in Gurgaon and Noida — with a 100-people team. “Our branches would be opened in major metros such as Mumbai, Ahmedabad, Bengaluru shortly and then we will move to tier two towns such as Chandigarh, Pune, Jaipur as well. Metros as important as the industry gets 65 per cent realty transactions from these cities,” Yadav added.
On the anvil
The online advisory firm deals with only fresh bookings i.e. the primary market in real estate, and has no immediate plans to provide its services for resale or rental market. The company is working on mobile apps which will be launched in the coming three months.
It is also actively looking for PE/VC funding for $1.8 million in first year and $3.2 million in the second year, Yadav said. The bulk of the business for the company comes from those looking to invest in houses in the bracket of ₹40 lakh to ₹80 lakh, he added.BusinessLine