India is a country where real estate sector is in the boom and is here to stay for a long unprecedented time. Buying a share of property in India is a very complex, challenging and a very broken system with a lot of loopholes in it. Property, undoubtedly is the largest investment in anybody’s life. Societal perspective, an intricate self-desire and a lot of other factors drive an individual to own a property. And, thus one does not dive deep into the scientific considerations or an expert advice on the same. The scenario of real estate in India is full of challenging situations like asymmetrical information, service vacuum, as well as a whole lot of unorganized spread.
Having self-suffered all of these challenges, Kanika Gupta and Tanuj Shori decided upon an idea to form a foundation named Square Yards in 2013 when they had no idea about how big this was to become. Today, Square Yards has come out to be victorious and has become one of the largest players in the proptech field. And, today, the startup is aiming to capture 15% share in the residential sales market in India. Square Yards currently employ 2400 people with a presence in 30 cities domestically and about in 10 international destinations. Their unique well framed integrated model coupled with a large leading generation of capability invested in the construction business and with around a million visitors monthly, Square Yards is close to touching the annual revenue of $30 million and a transaction value of $750 million with around approximately 12,000 transactions.
Square Yards had the aim to cover the entire real-estate scenario from searching to researching, transactions to sales service and beyond and fully integrating the buyers to the sellers through an extensive network. “It was this consistent evolution, changing, learning, re calibrating and going beyond the boundaries again, which is the USP of Square Yards”, as told by Tanuj Shori. He also added that it was a very different journey in an industry where chain value needed to be corrected, considering and understanding how developers work and how the buyers purchase the products. The perception was very crucial to understand that how the distribution process needed to evolve and how the top talents needed to be convinced to take it up as a long time career.
The founders firmly believe that the most crucial factor of this mammoth achievement have been technology and people. Square Yards had a team of 15 people at the helm whose efforts solved all problems includind data asymmetry, standardized sales process and to reach a wider sector of audience. Square Yards currently is focusing on to attain 15% of the primary sales market share. The company is also growing in the international arena growing at a very fast pace allowing for overseas business and profit. Square Yards also believe that the future is going to be a well integrated business solution for all the developers, agents, lenders and brokerages and that it will drive towards a more positive and a profitable growth.
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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.