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My Property Boutique plans to raise USD 4 million for expansion

Press Trust of India  |  New Delhi 

My Property Boutique is in talks with a few investors to raise up to USD 4 million (about Rs 27.50 crore) in its first round of funding for expansion.

The company currently has three boutiques or in and Bengaluru where properties of various are put on display for The fourth one at would be opened in the next three months.

The Chennai-based firm, an online and offline real estate aggregator, was co-founded by and Before starting their new venture, both had worked for JLL India.

"In last 18 months of our operations, we have received a good response from developers as well as customers. Now we want to open 100 such boutiques or expo centres across the country in the next three years," Bora told

"We are in discussions with few investors to raise our first round of funding. We are looking to raise up to USD 4 million for our expansion plan," Bora said.

The company started this venture based on the

"The reason why people visit major is because they can find all major brands under one roof and then pick and choose what they want to buy. This is the basic idea that facilitates the working of My Property Boutique. The company offers all builders under one roof, and is open 365 days," said Karthikeyan.

My Property Boutique provides homebuyers with end-to-end support, including the loan process and property documentation.

Asked about the revenue model, Bora said: "It's like any classifieds We earn revenues through listing of properties in our showrooms and portal. We do not charge any money from customers."

He said the company posted a revenue of Rs 3 crore during last fiscal and is targeting to more than double it to Rs 6.5 crore in 2018-19.

My Property Boutique has taken on lease about 8,400 sq ft of area for its three existing showrooms. The biggest one is at a mall in where about 100 properties are on display of nearly 50 builders.

"We open our either in an IT park or shopping mall," Bora said. The company currently employs about 30 people, including real estate experts, who are available at all the stores to help buyers.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, July 08 2018. 12:35 IST