Fintech firm RealX to offer fractional ownership of real estate

NEW DELHI: RealX, a platform for fractional ownership of properties, opened its platform for public on Friday. The fintech firm, launched last year, had to stop operations owing to the Covid pandemic.

The investment platform enables investors to digitally invest in high yield, high return properties with blockchain-based registry.

“We were deeply impacted by the pandemic as we were in our early days of operations and the pandemic shut down everything. Real estate as a sector needed some time to stabilize before we could offer it again as an investment option to our investors. However, this gave us time to rethink the business model after we engaged with many developers,” said Manish Kumar, Co-Founder and CEO, RealX.

Roshan Lionel Dsilva, Founder and CEO of Tripvillas, said they are offering a basket of holiday properties managed by them. “We have created a unique offering for RealX customers by blending ownership of holiday properties with usage and yield. We look forward to soon also launching our international properties on the RealX platform that will provide dollar-denominated income for Indian investors,” Dsilva said.

Dilip Mittal, Director, Mittal Brothers, said they are entering the era of fractional ownership with their one-of-a-kind project ‘One Place’ in Baner, Pune to democratize investments in high value assets in small ticket sizes.

Neera Inamdar, co-Founder and COO of RealX, said unlike other players in this space, their investment process is a lot simpler. “We offer ‘direct deeded property co-ownership’ and it is in the best interest of investors to become direct co-owners of the property. During the pandemic, we got a lot of insights from our customers as well as developers. We realized that while developers were in distress, customers still did not have a way to participate in property market as an investor. We set out to cover this gap and in-turn create a win-win solution for both,” Inamdar said.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button