Square Yards, India’s foremost property brokerage brand, efficaciously sold over 400 housing units worth more than Rs 200 crore in the last 10 days despite the ongoing nationwide lockdown. For enabling hassle-free and end to end real estate transactions, Square Yards launched a one of its kind digital platform. With the deployment of this platform the company has sold 420 units that were valued between ₹ 200 Crore to ₹ 250 Crore.
Non-Resident Indians (NRI’s) contributed to 50 percent of the sales while Godrej Properties housing projects in Delhi-NCR and Pune contributed the maximum to its sales volume. This smart digital platform automatizes the complete value chain of a real estate transaction, catering to online virtual tours and 3-D walkthroughs, a real-time inventory blocking engine integrated with payment gateways and post-sales modules for submission of online applications with digital signatures.
Anil Ambani-led Reliance Group’s private equity arm had invested USD 12 million in Square Yards back in November 2016.
In September 2019, Square Yards raised USD 25 million through preferential issue of equity shares to investors including Times Group.
Square Yards, since its inception in 2014 has raised USD 50 million in equity and over USD 25 million in debt financing. The company had clocked revenue of Rs 220 crore in the 2018-19 financial year.
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