New Delhi: An Internet startup is building a real estate kiosk where you can rent out your house and property, sell them for cash and buy them back from a broker.
The kiosk lets you rent a flat for a period of time, pay rent, pay off your mortgage, buy goods and services and get a discount on the sale price.
The kiosk is based on an app that has been downloaded over 2.5 million times and the company has partnered with an industry leader in the space, KPMG, in order to launch the business.
The app lets you choose the types of properties you want to rent and also shows you what the market will be like at the end of the term.
This way, you can decide whether to rent a property for a fixed period of two years or for a year.
You can rent one of the flats from the app and pay rent for the term you wish to stay in the house.
If you want a longer term lease, you have to pay more money per month.
You can also buy a property from the online brokerage for a lower price.
KPM G, which has a branch in New Delhi, has partnered up with an established real estate broker in India to launch this service.
The startup, called KPM, has been working on the kiosk for several months and has secured financing from a few investors in the past few months.
The startup is now looking for a valuation of around Rs 3,500 crore.
The investors have offered to provide loans of up to 50 per cent of the value of the company.
The KPM Group has also set up a fund to help the startup get its business off the ground.
This fund is called KPS Investment Fund, and it will help KPM build out its business.
The venture has been launched at a time when real estate is booming.
There are currently more than 2,500 such online real estate brokerage platforms in the country.
There is also an infrastructure like a website for all the properties being rented.
KPS has also partnered up to provide services to the real estate sector in India.
Kamaal, the biggest online real-estate broker in the world, is also partnering up with the startup to launch its online brokerage.
Real estate in India has witnessed a boom in the last few years.
According to the National Consumer Expenditure Survey, the number of apartments rented out increased by 40 per cent between 2012 and 2016.
The number of properties sold increased by more than 200 per cent in the same period.
These are some of the reasons why the real-life industry is looking to be a big player in the next 10 years.KPMG has built a reputation in the realty space.
It has developed a portfolio of real estate services including the realtors marketplace and real estate search engine.
The company has also recently launched the app that connects consumers with sellers and sellers with consumers.