Let’s say you are looking to buy a flat. You would get on your laptop and look at sites that show you different apartments available at your desired location. You open a couple of links and all you find is very limited information about the site. Since you are interested in the site, you put in your number in the site to contact someone who knows about it.
Your number is then circulated amongst multiple brokers who contact you about properties they have at hand. The result you end up with is incomplete information about the site you were interested in and multiple brokers constantly calling you about sites that you are not interested in.
Aneek Kaul started Buy India Property in 2019 with the purpose of solving this issue as well as to provide information about sites and properties that are complete, comprehensible, and up to date.
Buy India Property is an online platform that provides property showing management solutions for real estate professionals. Focusing on connecting the builders to the buyers, the platform provides its users with the information of the builders, projects, brokers, and provides property information and builder reviews.
While talking about the buyer journey Kaul told Entrackr, “After contacting the builder, we make an explanatory video documentary of the project including the layout of the floor, locality, and surroundings.” This in-depth video helps the buyers in the shortlisting process.
The platform also provides real time prices of all the projects along with its layout. The company previously also provided information about each property’s inventory, which was later stopped due to the huge number of updates that had to be fed into the site every day.
A buyer can put an interested property on hold, which will let the builder know to take the communication further. The app also has options through which the buyer and dealer can chat, talk on phone or even video call to know more information about the property or view the property without actually visiting the site.
Buy India Property not only connects buyers to builders, it also connects brokers to builders and then to buyers. Since the buyer’s number is not shared throughout the entire process, it saves the trouble of them receiving multiple calls from various brokers. The platform also follows through a process in order to verify that the broker is genuine or not.
With the availability of the details about the property and the ability to connect with the dealer or broker without having to visit the site, the platform makes the entire selection process of buying an apartment easier.
Having previously worked in the real estate industry in operations and sales management, Kaul early on recognized the gaps present in the industry. Noticing the problems consumers face with the existing property showing platforms, he built the platform with the aim of it being precise and transparent.
The bootstrapped company is currently available across 3 cities and is working with around 200 enrolled projects. Till date the platform has seen over 1000 app downloads and around 10,00-12,000 new viewers every month.
The Delhi-based company’s revenue for FY 21-22 was Rs 10 lakh and it has a current run rate of Rs 15 lakh. The company has seen a 50% increase in its revenue trends of the last two years. India’s real estate market was valued at $200 billion in 2021 and has the ability to reach $1 trillion in market size by 2030.
With India’s real estate market growing and developing continuously, Buy India Property faces competition from local companies like No Broker, 99 acres and newer companies like Propacy.