Rahul Yadav, former Housing.com co-founder and CEO, has joined real estate venture Anarock as the chief product & technology (CTO) officer.
As per ET report, Rahul Yadav’s mandate will include developing a technology-driven online brokerage platform for Anarock Property Consultants. Anarock Property Consultants, was launched in the last month by the real estate expert Anuj Puri, former chairman and country head of JLL in India.
Before joining Anarock, Rahul also advised Lodha Group for a brief period. Anarock is targeting a total portfolio value of $500 million for its fund business by 2020.
“This appointment is in line with Anarocks’s highly technology-driven orientation and business model for its residential advisory services. The online real estate business is still in its fledgling stage in India, and we are taking the lead in boosting it into maturity. So far, the real estate sector has not been able to emulate the success of ecommerce for consumer durables and services,” said Anuj Puri, Chairman, Anarock Property Consultants.
Puri also added, “Our unique, multi-pronged approach will significantly differentiate Anarock from all other players within the Indian residential property market.”
Anarock also seeks to provide debt, equity and mezzanine funding to residential developers. It is currently enhancing its team of residential brokers to a pan India headcount of 700 by the end of 2017. Anarock’s investment and fund platform, which is targeting a capitalization of $500 million by 2020, currently houses two funds. ROF-I, with its recent investments, stands fully deployed at Rs 161 crore and has already demonstrated successful exits. ROF-II, for which Rs 300 crore were raised in 2016, will invest into residential assets from an existing pipeline and its deployment will commence as soon as it completes the last leg of regulatory requirements, it said.
According to Puri, Indian residential buyers and investors will not embrace an ecommerce model of property purchase unless they get a seamless experience from online selection to offline advisory and transaction closure.
On joining Anarock, Rahul Yadav said, “I consider my appointment as Chief Product & Technology Officer at Anarock Property Consultants the logical next step in my career, and it is of course a complete privilege to work with an outstanding industry leader like Anuj Puri.”
Yadav, who co-founded Housing.com, one of the hottest tech startup of 2012 has pioneered the verified listing and brought data approach to the online real estate business in India. Through his start-up, he soon became emerging start in entrepreneurs’ galaxy and had managed to capture the