Real estate start up Square Yards on Monday announced a scorching pace of expansion within India and Internationally since its inception three and a half years ago announced the opening of yet another international office at Kuala Lumpur, Malaysia.
The company also announced its plans to expand in tier II locations within India with offices in eight Indian cities namely Lucknow, Kanpur, Patna, Ghaziabad, Dehradun, Meerut, Varanasi and Allahabad.
With this recent expansion, Square Yards has now extended its reach to 10 countries and 32 cities across the world. It already has offices in major International hubs such as Dubai, Singapore, Hong-Kong, London, Sydney, Toronto etc. along with all major metropolitan cities in India.
"We would also be assisting them in considering local Malaysian properties as well as other attractive international property options such UAE, Singapore and Australia. On the domestic front, affordable housing is what is driving housing demand in Tier II cities. Many new housing projects in these cities offer ticket sizes that fit within the parameters of affordable housing with added benefits under the Pradhan Mantri Awas Yojna scheme," said Principal Partner at Square Yards, Sopan Gupta.
"These projects are sought after not only by local residents, but also investors from metros and overseas. With our network of offices, we will be able to provide seamless services to such investors," added Gupta.
Going forward, the company plans to increase its footprint to 15 more tier II cities in India and at-least five more International cities.
Square yards has now built a distribution network that is now unparalleled in the industry. From its humble beginnings in 2013, Square Yards is now the largest online real estate player in the country closing around 1000 transactions a month with an annual revenue run rate of USD 25 million (GMV~ 800mn+) having more than 1400 employees. Its mortgage arm Square Capital has emerged as one of the largest distributor of loans in India facilitating around USD 50 million of disbursals every month.