Newsletters PropTech Radar - 30th Nov 2023, Your Fortnightly Insight into the world of PropTech

PropTech Radar 30th Nov 2023,

Your Fortnightly Insight into the world of PropTech


Peak XV’s Surge leads $2.5 Mn seed round in Elivaas

Elivaas, a tech-driven villa and luxury apartment management company, has raised $2.5 Mn. in its seed round led by Peak XV Partners’ Surge.

Hanto Workspaces raises Rs.15 crore in seed funding led by KredX founder Anurag Jain

Hanto Workspaces secured Rs 15 Cr. in seed funding led by Anurag Jain of KredX and other angel investors, planning to expand across major Indian cities. The company, experiencing substantial growth amid the pandemic, aims to double its revenue in FY 2023-24.

Colive taps venture capital funds in bid to raise $20 million

Colive, a Bengaluru-based tech-based platform for fully managed rental homes, is in talks with venture capital firms to raise around $20 Mn. for expansion. The company plans to double its room capacity in cities like Mumbai, Pune, Bengaluru, Hyderabad, and Chennai. Colive aims to manage over 30,000 rooms by the end of 2024.

Edelweiss Alternatives aims to raise up to Rs 5,000 cr via rental yield fund

Edelweiss Alternatives, the alternative asset arm of the Edelweiss Group, is set to raise up to ₹5,000 Cr. from a blend of onshore and offshore investors through its newly introduced rental yield plus fund, as per a senior company executive.


PropShare targets over 3X growth in AUM

The company is also looking to accelerate its product development process and diversify investment offerings by buying larger assets, said its CEO Kunal Moktan. “We will focus on larger deals now, which are upward of Rs 300 Cr. in the commercial real estate space, to drive its growth as opposed to buying smaller assets,” he said.

Bullish on affordable housing segment: Atul Monga, CEO Basic Home Loan

The firm has so far disbursed home loans of around Rs 7,000 Cr., of which Rs 4,200 Cr. were given to the affordable. "This initiative aligns seamlessly with our goal to expand our reach within the priority sector lending (PSL) domain," said Atul Monga, chief executive of BASIC Home Loan.

Hiranandani Group launches Eleva vertical for real estate solutions

The platform will leverage the 40 years of expertise of the group to provide development, construction, design, marketing, and sales-oriented solutions to other real estate players.

WeWork India further solidify its presence in South India

WeWork India, a major player in the country's flexible workspace sector, has recently secured two office spaces totaling more than 2.7 lakh sq ft in South India, reinforcing its market presence. This expansion follows the parent company's bankruptcy filing.


Residential rentals surge 22.4% in September quarter, millennials drive record demand: Magicbricks

Based on the behavior and preferences of over 2 Cr. customers on Magicbricks platform, the report also observed that Thane witnessed 57.3% on-year growth, Gurugram 41.4%, Greater Noida 28.7%, Noida 25.2% and Hyderabad 24.2% observed highest appreciation in rent as compared to last year.

Malls expected to attract investment of over Rs 20,000 cr in next 3-4 years

Mall space in India is set to increase by 30-35 Mn. square feet (msf), or a third of current stock, over the next 3-4 years, spurred by the strong recovery in retail sales last fiscal. The retail recovery is expected to sustain, as broad-based consumption across geographies as well as sectors fortifies demand resilience. In fact, revenue of mall owners for this fiscal is estimated at 125% of the pre-pandemic level

Sebi nod for small, medium REITs to boost investments and liquidity

The Securities and Exchange Board of India (SEBI) decision to establish regulatory guidelines for small and medium real estate investment trusts (SM REITs) is anticipated to enhance retail and institutional investor participation, institutionalize the segment, and


WiseX:Transforming Real Estate Investment in India

Since its inception, WiseX has undergone a remarkable journey of growth and evolution. With a focus on democratizing commercial real estate for retail investors, WiseX developed a unique fractional ownership framework tailored for the Indian market

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