Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Amazon Great Indian Festival Celebration Sale - 2019
Google
Web www.equitybulls.com
Industry News

| More

Rs. 20 Lacs to Rs. 20 Crore Startup: India's First-Ever Real Estate Company Offering Premium Rentals for Senior Level Business Travellers

Posted On: 2019-08-28 09:41:22

Relocatte, a tech-enabled real estate startup, offers beautifully furnished & equipped premium apartments on rent suitable for business travelers and senior executives travelling to India for short term and mid term. Founded with a budget of Rs. 20 Lacs in December 2015, Relocatte is now clocking a revenue of ?20 Cr (translates to $3 million) per annum. Relocate is bridging the gap between the high demand of service-oriented premium apartments and the lack of their supply in India.

When it comes to serving senior professionals and expats, the situation is different from the regular market, which mostly involves targeting millennials with PGs or co-living spaces. Senior professionals, on the other hand, seek a service-oriented housing solution instead of a cost-oriented one. There are more than 10.2 million houses available for rent in urban India . However, not more than 10%-15% of this space is effectively furnished and property owners are not capable of providing post check-in services.

This lack of ready to move-in apartments is what results in the gap between demand and supply in the premium rental market. The currently available property search engines feature listings posted by brokers, wherein reliability becomes a huge concern, thus increasing trust deficit. Existing companies deliver mediocre apartments while there is a seperate furniture rental business but there was no one-stop-shop solution to this demand.

Relocatte leases properties for a long term (usually for 3-5 years) from property owners by giving them rental assurance. It furnishes the properties thoughtfully, making them available for stays ranging from 1-12 months. With impeccable furnishing, ample amenities and client servicing through the service app, Relocatte provides a hassle-free living experience for corporate and individual clients. Relocatte apartments are located in proximity to major business hubs, currently available in South Delhi, Gurgaon, Manesar, and Neemrana.. Relocatte can even fulfil custom demands of tenants in terms of furnishing, amenities, and other services.

All the ready-to-move-in properties are listed on the website while post check-in services can be managed with the app, which is backed by tech professionals and service managers, Tenants can directly book from the website, eliminating the middlemen. Since all the properties are leased after strict verification of the properties as well as the owners, Relocatte has managed to curb the trust deficit completely.

"The key is to match the expectations of the high-level tenants. Hence, we also deliver custom requirements such as a particular mattress of their liking or sometimes even a house help. 24x7 call support further adds to the satisfaction of the tenants. What we have done is to merge the on-ground demand and delivery through a completely online solution," said Deepanshu.

Relocatte is currently managing 125+ apartments across the NCR region with a turnover of $18 million. They plan to add 2500 properties in 12 locations by 2020 and 7000 properties by 2024. To meet this target, they are in talks with some investors and plan to raise Series A funding soon.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Afghanistan Trade Event Drives Over $55 million in New Business

InstantPay granted Corporate Agency license by IRDA

ICAI and ICAEW renew qualification reciprocity agreement

Implementation of Uniform Banking Hours in all Public Sector Banks (PSBs) on PAN India

No more 'Single Use Plastic', says Usha International

Chennai Machine Tool Expo 2019 Brings Technologies to the Doorsteps of Tamil Nadu

Affordable homes account for over 48% unsold units in MMR: PropTiger report

PaisaWapas announces special cashback for Amazon and Flipkart festive sale

Mitsubishi Electric India pledges for a greener tomorrow in Nagpur

Cognizant Named an AI Consultancy Leader by Independent Research Firm

Tata AIA Life Insurance goes from protecting people's future to protecting the environment too

New Cognizant AI Insurance Claims Platform Enhances Processing, Accuracy and Customer Service Following Natural Disasters

Chennai Machine Tool Expo 2019 to Set the Ball Rolling for Manufacturing Excellence

Truecaller appoints Hitesh Raj Bhagat as Director of Corporate Communications India

Universal Sompo General Insurance Company Ltd launches USGI ALLy mobile application

Cinépolis lets you #XperienceTheFuture with its latest campaign

Logitech partners with LXG to strengthen the esports ecosystem in India

PAYBACK joins hands with Cricketer, Yuvraj Singh to launch its new campaign 'PAYBACK Chalao'

Indian tourism evolving as a catalyst of growth and employment generation

House of Hiranandani celebrates the Heroes of Hiranandani this Engineer's day

Flora Haixia Zhao joins Sterlite Power as an Independent Director

OPPO's 20x Zoom powerhouse, Reno2, to go on sale across India

World's Biggest Food Exhibition - SIAL Kicks off Today in Delhi

JSW Cement launches Durga Puja campaigns with a social focus

Globus Infocom Launches Indoor LED Display Wall at InfoComm India 2019 Expo

Cash Suvidha plans to raise $5-10mn equity funds

EaseMyTrip Brings 'Welcome Festive Sale' Campaign

Logitech Announces Launch of Logitech® Pebble Wireless Mouse M350

JRK Group launches Mobile Application for easy investment in shares and mutual funds

'Cordless Matlab Bosch' - Introducing Experiential Mobile Vans to Unveil the Power of Cordless

Duroflex introduces India's only certified orthopaedic mattress range

Signify illuminates Qutub Minar with warm white LED's

Now every qualifying SanDisk® product purchase could win you gold

Red Velvet takes to the skies on its first commercial service to New York City

DLF Shopping Malls win top awards at the 10th anniversary celebration of CMO Asia Awards 2019

Odisha delegation at Indian Business and Innovation Summit, Singapore.

GRUBOX, a unique unmanned retail startup, spreading its wings at national capital region

Phylion rolls out 10 million LEV Lithium-ion Battery Packs

RED FM's 'South Side Story' takes Delhiites on a magical Southern ride!

Signify celebrates Ganesh Chaturthi by illuminating Ganpati Pandal with 4,000 LED bulbs in Mumbai

RAK Ceramics inaugurates its New Orientation Centre in Gurugram

Cinépolis hosted a special tribute for teachers

TAFE's free of cost tractor rental platform - 'JFarm Services' launched in Gujarat

HubSpot launches redesigned App Marketplace for growing businesses

BT to deliver cyber security services for ICARE

Visit of Invest Odisha delegation to Guangzhou, China

AdviosryMandi.com raises 36 Million Dollars from EST Group

Bharti Foundation partners with OpenLinks Foundation to launch tickLinks 2.0 mobile App for teachers

Poly Introduces G7500, a Meeting Room Solution Designed for Modern Indian Workplaces

1200 MW Annupur Thermal power project achieves 90% availability till date in the current financial year







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019