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YourOwnROOM, a proptech innovator, has finalized partnership agreements totaling $6 million with two prominent developers, signaling a significant stride in acquiring high-quality residential inventory across strategic micro-markets in Bangalore. Prabhat Kumar Tiwary, Founder, MD & CEO of YourOwnROOM, views this as a crucial growth initiative for the company.
YourOwnROOM’s collaboration with Agser BuildTech Pvt Ltd, valued at $2 million, designates it as the Residential Rental and Property Management partner for upcoming projects. This includes overseeing end-to-end PropTech-based rental and property management services for Abhi Homes in Devanahalli and Agser Homes in Malur, totaling 579 units set for handover in May 2024.
In another significant deal worth $4 million with Rushmore Estates, YourOwnROOM is set to construct studio pads catering to single professionals in Bangalore’s IT belt. The project aims to provide self-sufficient, high-quality living spaces and is valued at approximately Rs. 200 Cr, with the first phase scheduled for possession in April 2025.
YourOwnROOM’s role as the Proptech Residential Rental and Property Management partner underscores its commitment to delivering professional services that ensure continuous cash flow, superior rental yields, and capital appreciation for homeowners.
With Bangalore’s IT industry booming, the demand for purpose-built mid-term stay studio apartments is on the rise, particularly among young professionals. Alok Kumar Singh, Co-founder of Rushmore Estates, notes that around 45-50% of professionals in Bangalore’s IT industry are in the age category of 21 to 27 years, creating a significant need for high-quality, purpose-built accommodations.
As Bangalore’s real estate market continues to grow, YourOwnROOM’s strategic collaborations position it as a key player in meeting the evolving demands for safe, secure, and convenient homes, especially for professionals in the early stages of their careers.
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By Proptechbuzz
By Ravi Kumar
