Homz N Space - Getting people closer to their dream homesSaswati Mukherjee
Meet Harish Achar Brahmavar and Raghu P V, Founder and co-Founder, respectively, of Homz N Space, a review-based, real estate advisory platform. The founders say that what sets apart their service is -- real-time counselling and guidance through the processes of purchase.
Partnered with 30 leading builders in Bengaluru, HomZ N Space provides realtors an opportunity to market their projects on their website. The website targets customers looking for an open and transparent forum to discuss real estate projects, share information, and air their concerns. The service is a virtual consultant which eliminates ambiguity for consumers by offering them advice before they invest in their dream homes.
How it started
The founder duo were colleagues at DLF until the middle of 2010, when Raghu left to join a Bengaluru-based builder, Kay Arr & Co. His new role was to revamp the organisation to take on the city’s competitive real estate market.
Meanwhile Harish, still at DLF, was toying with the idea of providing a value-based customer-focused service to the real estate market. He wanted to offer a product to suit consumers' needs by offering them multiple optional products. "We decided to work on our dreams and streamline our efforts in the right direction. After intense market research and deliberation with industry leaders, we decided to launch our company," says Harish. In July 2011 the online platform Homz N Space was born. The founders were clear on their concept – to give unbiased views on residential projects across Bengaluru.
"We knew that the real estate industry had many online marketing portals. They were, however, into giving real time counselling on real estate or on a particular project. The buyers were dependent on the marketing campaigns of the projects. We felt a need to offer a unified platform where consumers and developers can come together. And through a proper counselling-based mechanism, buyers could make an intelligent purchase decision," explains Harish.
Mysore-born Harish has done his MBA from Bengaluru. Along with a passion for following research in technology, he is interested in aquascaping andmeditation.
Raghu hails from Bellary, and is armed with a civil engineering degree and an MBA from Bengaluru.
The business model
Homz N Space has been named as the most preferred partner by leading real estate developers such as Puravankara, Divyasree, Hiranandani, Provident, and Godrej among others. The platform has over 580 subscribers with over 7,000 customer queries answered till date. The projects listed on this platform have received nearly 17.5 lakh views. The over 350 closed transactions through Homz N Space have generated sales worth almost Rs 220 crore. Their revenue figures are robust enough for them to scout for funding from venture capitalists.
The founders plan to create an online platform supported by offline services. The aim is to expand to other metro cities in India, and to other countries like the USA, Australia, Singapore, Europe, the Middle East, and Africa.
The company is also looking at robust expansion in both online and offline modes by transforming current web technology. They plan to do so by hiring more on-ground sales consultants. The bigger goal is to set up a unique world-class discovery centre, where top builders across geographies come together on one consolidated platform to assist Indians and NRIs search for their dream homes.