It is often said that 90% of millionaires own real estate. This is because real estate provides value in return for the price paid. The real estate sector in India has seen significant growth in recent years, leading to the introduction of online real estate investment platforms. Today, we will learn about the story of a real estate company that started from scratch with a unique business model and steady revenue, eventually generating $1 billion in revenue in just 22 months. Let’s explore their entire business model and strategies.
Real Estate Business Ideas
Dhanush Soori, a graduate of IIM, and his wife Kanika used to work in the real estate business and invest in the real estate sector in India. However, they encountered a small problem. When they discussed this issue with their NRI friend, they discovered that he was facing the same struggles in investing in India. This led to the introduction of Square Yards in 2013, a real estate startup focused on the NRI segment. Square Yards has now crossed USD 450 million in gross transactions and operates in more than 6 countries.
Their journey began when they realized that many NRIs were unable to solve their investing problems in India. They launched support and post-transaction services after conducting research on real estate and micro-markets in the top 10 cities of India. They found a huge demand among NRIs for investment in India and promptly launched their platform. Square Yards provides research for micro markets, enabling investors to make informed decisions before investing in real estate. The remarkable aspect of their startup is that they bootstrapped it, meaning they started with their own money without any external investment.
Square Yards expanded its presence to 15 cities in India and 5 countries within 1.5 years. They managed to create a monopoly in countries like London, Singapore, Dubai, and Hong Kong. There were three main reasons for their success. Firstly, they provided investment-friendly products based on market research, focusing on student accommodation, malls, and redevelopment projects. Secondly, the demand for real estate investment in these markets was high while the supply was limited, creating an opportunity for Square Yards to establish itself. Thirdly, they developed a technology, lead, and growth model, building multi-modal distribution platforms and offering features like city heat maps, recommended engines, rating parameters, and lifestyle information.
Networking played a crucial role in their success, reducing the need for extensive client outreach. Square Yards also implemented technology solutions such as virtual 360 walkthroughs, augmented 3D reality, and payment portfolio management for customers. They further expanded their services by launching Square Connect, a platform where real estate brokers, independent financial agents, and stock brokerage firms can be listed. This platform allows for the exploration of primary real estate inventory and business opportunities. Square Yards charges brokerage fees and listing fees for these services.
In addition to their core services, Square Yards now offers loans and mortgages, making them a comprehensive real estate solution provider. They have successfully solved the mystery of generating $1 billion in revenue in just 22 months through their innovative business and revenue model. It is truly remarkable how a 23-year-old entrepreneur managed to achieve such success. For more insights on building your brand and acquiring your first 100 customers, check out the video on the right. Stay tuned for more entrepreneurial stories in the future!
Why is it often said that 90% of millionaires own real estate?
It is often said that 90% of millionaires own real estate because real estate provides value in return for the price paid.
When was Square Yards founded?
Square Yards was founded in 2013.
What is the focus of Square Yards?
Square Yards is focused on the NRI segment of the real estate market.
How much revenue has Square Yards generated?
Square Yards has generated $1 billion in revenue in just 22 months.
What were the reasons for Square Yards’ success?
The reasons for Square Yards’ success were providing investment-friendly products, high demand with limited supply, and a technology-driven growth model.
