For housing society members, redevelopment is a once-in-a-lifetime undertaking. For developers, architects, lawyers and consultants, it is everyday business. This imbalance can leave residents uncertain about a developer’s credentials, their property’s title history, rent, parking and the fine print of agreements.
Technology development was outsourced, and the proof of concept was implemented in 2022. Since 2020, the company says it has worked with more than 400 housing societies in capacities, completed 125 feasibility reports and signed 24 projects.
“A great deal of effort went into ideation because we are dealing substantially with senior citizens,” says Lakshminaarayanan. One member asked him, “Will I be alive when I get my new flat back? The question captured the emotional and financial weight of a process that may take three to five years, particularly for senior citizens. Residents hand over an ageing building for demolition and reconstruction, often placing an asset representing much of their net worth at risk. The company then worked on assignments as a project management consultant to understand the difficulties societies face at every stage. Its offering underwent four to five iterations based on these lessons. “We worked as project management consultants to see the problems first-hand. This experience underpins its digital services. Funding and plans ahead
Initially bootstrapped, the startup raised ₹ 1.4 crore from friends and family.
It has taken no loans and is now revenue-positive, according to its founder. Lakshminaarayanan says another funding round is currently unnecessary, with the next phase to be financed through revenue.
