Gurgaon-based real estate consultant Valion announced the launch of a property portfolio management portal called 'myfollo' to cater to property investors and end users.
The company plans to raise Rs 30 to Rs 40 crore by mid-2016 for expansion of the portal across the country and is in talks with potential investors.
Valion says that myfollo will manage real estate portfolios online and would execute investments, disposition, advisory, lettings and residential property management for its online users.
It intends to expand its reach to the middle and higher income groups which account for 82% of real estate deals through myfollo.
Myfollo is targeting Rs 42,000 crore worth of assets under management in the next 18 months. Valion, the parent company, has already invested $200,000 in the development of the team and platform for myfollo.
After registering on the portal, the website will automatically calculate the total net worth of the individual, give alerts, notifications and recommendations on all assets.
"Indian real estate market is maturing at a rapid pace with many globally renowned realty companies and consultants opening up their shop here realising the tremendous growth opportunities in this part of the world. However, there was a big gap in providing specialised real estate advisory for mid-segment investors and end-users. With myfollo's professional team and real estate advisory pedigree, we plan to bridge the gap for the masses," said Amit K. Lalit, CEO and Founder of Valion.
For managing the properties, Valion already has a company, PropCare, which manages 46 properties in Delhi, Bangalore and Mumbai and plans to manage 500 properties by next year.
The platform will be launched for NCR and is expected to be rolled out to eight other cities across in the country in a phased manner.
BW Reporters
Simar Singh is one of the youngest members of the BW team. A fresh graduate from IIMC, she also holds a degree in political science from LSR. She enjoys covering power, startups, lifestyle and a little bit of tech.
