Funding story
The problems which BolRealty seeks to address
The real estate sector in India is booming due to rising consumerism. However, a lack of easily available reliable information, as well as prevailing mistrust, often prevents house-hunters from getting the best deals. Delhi-based crowdsourced real estate portal BolRealty aims to change this. The startup, which was set up in 2014, recently managed to raise an undisclosed amount from Delhi-based angel investor Manpreet Singh. The first tranche of Rs. 50 lakh has already been received.
BolRealty’s features
BolRealty aims to create a reliable stock of information regarding existing and pending real estate projects by gathering the views of pretty much everyone associated with this sector-from real estate developers (of which over 100 are affiliated with the company) of international renown such as JLL India and CBRE South Asia, to resident associations and buyers associations. BolRealty also aims to give voice to the grievances of latter groups, and by presenting the pros and cons of various properties on offer in an attractive, easy-to-understand way, provides maximum choice to prospective buyers.
Currently , it covers 12 cities and urban agglomerations, and according to CEO Amit Chhabra , plans are afoot to expand its services to 8 more tier-I and tier-II cities over the next three years.
Among some of BolRealty’s special features is its hosting of video chats involving developers and consultants. It also hosts India’s first TV channel on real estate on the Internet. Allied sectors such as infrastructure, cement and steel, also receive extensive coverage.
PS’s predictions regarding BolRealty
BolRealty’s innovative use of crowdsourcing has enabled it to develop a massive store of knowledge on various real estate and related topics, with the ultimate aim of benefiting house-hunters. Given the vast array of customer-friendly features which it hosts, its rapid expansion in the years ahead is virtually guaranteed.
