Square Yards aims to surpass USD1 bn GTV annual run rate

ANI | Updated: Sep 21, 2017 15:12 IST

New Delhi [India], Sept 21 (ANI): Square Yards, a real estate transaction platform aims to achieve a gross transactional value (GTV) annual run rate of USD one billion. It has been facilitating over 1000 real estate transactions and 600 loan transactions every month leading to combined monthly value of properties sold and loan disbursed to USD 80 millon.

Square Yards has also maintained a steady track record of achieving above-market-average numbers be it in terms of revenue run rate, team expansion and its distribution reach. With an annual revenue run rate of USD 30 million, it recently crossed 2,000 employees headcount, placing its real estate sales headcount over the largest of real estate companies in India.

"We are witnessing significant growth specifically in the affordable housing segment after the great incentivization on the part of the government to fuel investments in this much needed space. Real estate in India is also getting organized with the enforcement of the Real Estate Regulatory Act (RERA). We believe that this is the right moment to build the scale to become one of the largest tech-led distribution network for real estate anywhere in the world," said founder and CEO of Square Yards, Tanuj Shori.

Government schemes such as the Pradhan Mantri Awas Yojna which offers interest subsidy on affordable housing are driving more consumers to fulfill their dream of real estate ownership.

In fact, several studies have shown that home loan transactions have gone up by more than 20 percent over the last few years for affordable housing purchases. In addition, the introduction of RERA has given a redressal mechanism to the average Indian home buyer.

The protection it offers has boosted buyer confidence significantly. The Act would be instrumental in driving more transactions in the realty landscape of India overall. (ANI)