Indian Fintech Firm Unveils Blockchain Platform for Fractional Ownership of Real Estate
RealX, a marketplace for fractional property ownership, unveiled its services to the general population on Friday. Due of the Covid epidemic, the fintech company, which started in 2020, had to halt activities. With a blockchain-based registry, the investing platform allows interested investors to securely participate in high return assets.
“We were in our initial periods of business when the epidemic struck, and the pandemic shut things down.”
Real estate as an industry required additional time to settle before we could present it as an investment choice to our customers yet again. Nevertheless, after engaging with a large number of developers, we were able to rethink our business strategy,” stated Manish Kumar, Co-Founder and CEO of RealX.
Tripvillas’ Founder and CEO, Roshan Lionel Dsilva, said that they are providing a basket of vacation homes maintained by them. “By combining ownership of vacation homes with use and income, we have developed a one-of-a-kind solution for RealX clients.”
“We look forth to shortly releasing our foreign assets on the RealX platform, which will offer Indian clients with dollar-denominated earnings,” Dsilva added. Dilip Mittal, Director of Mittal Brothers, said that their unique venture ‘One Place’ in Baner, Pune is ushering in the age of partial ownership by democratizing investments in high-value properties in small ticket values.
According to Neera Inamdar, co-Founder and COO of RealX, their investment procedure is easier than that of other competitors in this sector. “We provide ‘direct deeded asset co-ownership,’ and it is in the greatest interests of investors to become straightforward co-owners of the property.”
“During the epidemic, we received a lot of information from both our consumers and developers. We recognized that even if developers were in trouble, consumers still didn’t have a means to engage in the real estate sector as an investor. We started to overcome this problem and develop a win-win situation for either,” Inamdar said.