Essex India, a Hyderabad-based prop-tech company aiming to disrupt home-buying and selling process in residential real estate market, plans to expand its operations to four cities in next six months.
Essex, incubated out of Way2online, a leading marketing technology and data-driven company, is looking to expand operations to Delhi-NCR, Mumbai, Bengaluru and Ahmedabad, IANS reported.
Nirbhay Taneja, Co-Founder and CEO, Essex, told reporters that by December next year, they plan to have presence in eight major cities in the country.
The company using its innovative technology solutions will address real estate-related vertical issues, helping developers to liquidate properties in short time.
It also wants to standardise operations and take care of trust-related issues from buyer’s perspective.
The CEO said for buyers they would offer free services including legal diligence, document related services and financial assistance through all major banks.
The company will be charging 3 to 5 per cent commission from the developers. It aims to capture 5 per cent of the marketing and sales opportunity estimated at Rs 30,000 crore.