Real Estate Platform, Housing Raises Rs 100 Crore From SoftBank


Real Estate Platform, Housing Raises Rs 100 Crore From SoftBank

Company Name : Housing
Funding Amount : Rs 100 crore
Investor(s) SoftBank
Funding Round : Not Disclosed

Housing has secured Rs 100 crore from Softbank. The new funds will help the company to drive its new strategy and growth plans.

Jason Kothari, Chief Executive Officer, Housing said, “Softbank is one of the world’s largest and most successful investors.  Their continued support as both investors and advisors to is invaluable to us and signifies their long-term commitment to the Company.  We are now well-capitalized to aggressively execute on our focused strategy and growth plans and believe 2016 will be a great year for the Company.”

The company has established a focused strategy on buying and selling homes and is building scalable revenue streams, demand and supply, and is also going deeper in the value chain towards facilitating and fulfilling transactions.

In addition, Housing acquired the online community for real estate India Real Estate Forum, a CRM for developers HomeBuy360, and a data analytics firm Realty Business Intelligence.

Over the last few months, Housing has been expanding its senior management team to include highly seasoned executives. The startup claims that it is now working with over 40,000 developers and agents.

The company had earlier dissolved its operations committee to keep a track on the performance and also announced that it appointed its co-founder Snehil Buxy as its new Chief Product Officer.

Also Read: Housing Recorded Revenue Of Rs 12 Crores; Loss At 22X, 279 Crores [FY14-15]

Comments (4)

  1. Now Housing will give real competition to their competitors like Magicbricks, 99cares. Let’s see how they do..

  2. 10 Reasons why Moolah will return to Indian Real Estate in 2016?
    After last few years of slowdown, Real Estate Sector is set on the path of growth. Though the foreign investment
    started to flow with the formation of a stable government in May 2014, economic reforms and liberal FDI policies
    have further made the investment process easy. Riding on the hope of “Acche Din”, India saw a huge $2.2 billion
    (70% raise) foreign investment as per JLL reports. The World Bank predicts India to be the fastest growing
    economy in coming years with close to 8% GDP growth rate. The graph below gives a comparative analysis of the
    GDP performance of the world and developing Countries in South Asia.
    The future picture of Indian economy is bright and Real Estate sector is emerging as a lucrative investment option.
    Apart from private sector investments, several government projects like development of Smart Cities, affordable
    homes for EWS (economically weaker section of society) and housing for all by 2022 offer good potential for
    investors. The government is also working to enhance infrastructure across the country with number of highway,
    Metro and Airport projects.
    Developing affordable housing in major cities is a big challenge for government, as 10 million people migrate to
    cities every year and most of them are job seekers. The last decade has witnessed the migration of 91 Million people
    to cities and only 51 Million houses were made to accommodate them. The government has implemented several
    changes in the economy and FDI policy to tackle the issue. The time is right for investors to carry out some
    intelligent investments and below areten reasons to believe and participate in the growth of the Real Estate in India
    in 2016.
    1. Special Treatment for NRIs on Investment and non-consideration of property leasing as real estate business will
    boost the foreign investment in Real Estate Sector.
    2. The minimum requirements of 20,000 square meter development and capital of $5 Million have been removed.
    This step welcomes small investors and will promote construction and development in Tier II and Tier III cities.
    3. The policy of bringing foreign investment within 6 months of the starting of a project has been done away with,
    leading to more flexibility and ease of business in the country.
    4. Lower interest rates, affordable housing schemes, and easy installments will allure middle-class families to buy
    property, so we will see a rise in the demand of residential property in class B and C cities.
    5. Foreign investor can now exit from a project in 3 years or earlier if the project gets completed. The easy exit
    policy gives flexibility in ease of doing business, saves time and would invite more FDI.
    6. The growing IT and Service industry will need more workforce and office space increasing the demand for
    residential and commercial property.
    7. The soaring E-commerce industry will continue to grow as the number of online shoppers is increasing rapidly,
    there will be more demand of warehouses in future.
    8. Manufacturers with foreign investments are now allowed to directly sell their products using online or offline
    platforms without government approval. For this, they will need infrastructure, warehouse, and office space, leading
    to increased real estate requirement.
    9. Flexibility to Single brand retail trading in E-commerce will again contribute to the success of Real Estate
    10. No government approval is needed for eligible investment in LLP (Limited Liability Partnership) and foreign
    investment through share Swap. This will enhance the ease of doing business,thus attracting more foreign investors.
    Keeping in mind the World Bank report and recent economic reforms, Real estate Sector in India holds a huge
    potential as a long term investment portfolio for individual investors. Besides, metro cities the Tier II and II cities
    are going to witness exponential growth rate in real estate in 2016. In short, Indian Real Estate business is going to
    undergo a policy and investment transformation in the coming years. The situation will be more favorable if the land
    acquisition and other land reform bills get approved in the parliament.

  3. They are there in the market for some time now and not making any profits..Not sure how companies still pumping in money…

  4. LOL that’s not even 20 million USD..

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