Square Yards is using a unique proptech business model to disrupt the real estate sector which goes back several centuries. It is revolutionizing the operational dynamics for real estate in India and has expanded its presence greatly in only seven years. Square Yards has adopted the approach of an integrated and technology-driven real estate platform with products/platforms changing search and discovery, transactions and other aspects including rentals, mortgages, home interiors and real estate asset management solutions.
The consumer tech platform at Square Yards is one of India’s biggest realty platforms on the supply side of things, encompassing more than 1 million listings and drawing more than 5 million visitors each month. The platform offers unmatched research options including algorithm-based investment scores, heat-maps for micro markets and recommendation engines (need-based) which enable better property decisions of consumers. Square Yards has also enabled public access to government registration records on its website for 1.4 lakh projects/buildings in India’s top 10 cities in a bid to enhance transparency and plug information gaps.
It has worked to ensure a swift and convenient transaction procedure with inventory selection in real-time, digital escrow, e-payment provisions, online agreements and digital signatures. Square Yards is India’s sole platform offering fully paperless and instant home loan sanctions with digital API-integration with some of India’s biggest banks post online credit bureau, income and identity checks.
Square Yards has also set up the Interior Company for taking care of home design needs. Consumers can obtain 3D design experiences while tracking project delivery. The property management and rental platform is enabling thousands of tenants and owners to finalize contracts along with assisting in online collection of rents, tracking maintenance and repair requests and facilitating home inspections. Customers also get a vast range of other solutions including valuation, technical and legal services on one platform for digital asset management.
Square Yards is also providing pioneering technological capabilities including AR/3D Urban Landscape GIS Mapping and visualization of projects along with heat maps of micro markets for analyzing investment zones along with built-in valuation models, digitization records database (forecasting prospects) and the AI-driven property recommendation engine.
The Founder and CTO, Square Yards, Vivek Agarwal, stated that Square Yards had a clear vision at the beginning about the empowerment of all stakeholders throughout the entire industry value chain. It leveraged technology for quality enhancement and expediting decision-making across major focal points in the sector, creating an extensive service-based ecosystem which covered all requirements. He added that it was all about zeroing in on the core issues and coming up with viable solutions for each of them. Square Yards has innovatively crafted its real estate proposition in futuristic ways while enabling consolidation of its platform abilities towards building new experiences for customers.
Square Yards is also building robust intellectual property in fields like augmented reality, 3D tech and virtual reality along with AR-based urban landscaping (in 3D) of top Indian cities. Digital replicas are being built for every major organized property development in these cities. PropVR, the 3D visualization platform, helps in transforming any space/plan into an interactive 3D-based walkthrough in a few minutes, lowering spends by 80% on real estate and driving engagement levels to a whopping 400%. The platform is a major boon for real estate developers, architects, agents and interior designers to showcase their products to customers via 3D and video conferencing tools. Square Yards is tapping into its investments in research and development (R&D) through pioneering moves and creating new industry benchmarks through the securing, creation and licensing of its patent portfolio to back future business objectives.
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Published Date: April 6, 2022
