New Delhi [India]: Real Estate start-up Square Yards on Thursday announced that it has crossed an important milestone of 10,000 property transactions with a combined GTV (Gross Transactional Value) of more than USD one billion in the past three years since its inception.
The company has made conscious efforts to retain and grow its loyal client base. It currently boasts of a repeat customer rate of around 21 percent, these being investors who have bought more than one property through Square Yards an unrivaled industry benchmark.
It offers its clients a spectrum of services ranging from property research and advisory, site visits, selection of best available inventory, obtaining home loans, and hand-holding the client till property possession while resolving any client issue which might arise with the developer or government agencies.
A dedicated customer relationship manager is assigned to every client thereby ensuring open and hassle free communication.
“Customer service has been a cornerstone of success for Square Yards. Ever since inception, we have focused on solving customer’s pain points related to property transaction. Our clients understand the honesty of our efforts, due to which our repeat purchase and referral base has grown manifold,” said founder and CEO Square Yards, Tanuj Shori.
The company recently concluded two consecutive rounds of fund raising. Last month it raised USD 10 million from multiple investors in the form of convertible notes and earlier in November 2016 it received USD 12 million equity funding from the private equity arm of Anil Ambani led Reliance Group.
Square Yards has been the largest player by far in the Online to Offline (O2O) commerce in Real Estate in India. With a monthly run rate of 600-800 transactions, it has beaten the monthly sales numbers of even some of the largest developers in India.
This growth assumes significance because it has been achieved in the backdrop of a slowdown in the real estate market which demonstrates the company’s ability to deliver in toughest of market conditions. Going forward, with improved market sentiments and Real Estate Regulatory Bill (RERA) kicking in, Square Yards expects to further consolidate its number one position. (ANI)