Bangalore February 14th, 2018: Quikr, India’s market leader in digital classifieds and HDFC, India’s leading mortgage company announced that HDFC Realty is now “QuikrRealty in alliance with HDFC”. Unveiling of this new brand identity signifies the creation of one of the biggest online to offline (O2O) platforms in India. QuikrRealty will now serve as an online-offline brokerage business that draws its demand from Quikr’s large real estate consumer base, and in return, completes the transaction loop for home buyers on Quikr. This development is part of the strategic transaction between the two companies where HDFC has gotten an equity stake in Quikr while transferring entire shareholding of HDFC Realty and HDFC Red businesses to Quikr.
The unification also brings a large forward integration opportunity for Quikr which already has two market leading platforms QuikrHomes and Commonfloor to help consumers in their home search, and now QuikrRealty to help them close home purchase transactions. The continued Quikr-HDFC partnership, collaboration in helping corporate customers and joint efforts to help real estate developers grow their business present exciting possibilities for both companies.
Talking about the creation of O2O platform, Ms. Renu Sud Karnad, Managing Director, HDFC Ltd. said, “With 220 million smartphone users and growing in leaps, these users are accessing online channels to make their purchase decisions and we are witnessing this trend in real estate too. In this setting, QuikrRealty augurs well for the members of the real estate ecosystem due to its unique capability to translate online demand into actual transaction closures.”
Developers will now be able to look forward to project specific robust marketing campaigns with which they can opt for sales closure services. QuikrRealty will run tailor made promotions aimed at prospective customers for specific properties.
Consumers on QuikrHomes will be able to seek site visits, assistance in negotiations and closures from the properties they shortlist. From searching for a property to loans to purchase, Quikr will now be able to provide start to finish services for home buyers. In order to ensure best coverage for its consumers, given the vast size of the Indian real estate industry, Quikr will continue to work with external brokers in all cities across its platforms.
Corporates and Institutions can seek assistance for bulk transactions involving Buy/Sell/Lease of residential properties and office space expansions. QuikrRealty will not only continue to assist clients in valuations of real estate assets but grow this capability materially by getting exclusive access to large scale market data from Quikr.
Speaking on the occasion, Mr. Pranay Chulet, Founder and CEO, Quikr, said, “After the recent regulatory changes, the stars are aligned for a strong market leader to step in and organize home buying in India. We are excited to be that market leader. HDFC’s continued strategic association with QuikrRealty, QuikrHomes and CommonFloor is a testimony to our leadership in real estate and in other large sectors that move the Indian economy.”
Having commenced operations in 2000, HDFC Realty is India’s first corporate Real Estate Services company. It has an established presence in 19 cities in India with over 300 expert Real Estate Professionals. The full stack real estate services company, in its new avatar as QuikrRealty, will get major tech and demand amplification to cater to much larger number of customers.
About HDFC Ltd.
Housing Development Finance Corporation Ltd (HDFC), the pioneer of retail housing finance in India has assisted over 61 lakh families to own their house over the past four decades. HDFC’s strength has been its value- added services, delivered through a specialist team of trained and experienced professionals. HDFC has consistently had an impeccable record of customer friendly services.
HDFC has been described as a model housing finance company providing technical assistance and consultancy assignments for developing countries across Asia, Africa and East Europe. HDFC‘s average loan is around Rs. 26 lakh and has been catering to affordable housing segment. HDFC has been awarded amongst the top performing institutions under the Credit Linked Subsidy Scheme – Pradhan Mantri Awas Yojana (Urban) in 2017.
Quikr is India’s largest classifieds platform that is used by over 30 million unique users a month. It is present in 1000 cities in India and operates several large classifieds businesses across real estate, automobiles, jobs, services and goods. Quikr is accessible across mobile app, mobile site as well as desktop, and allows consumers as well as small businesses to sell, buy, rent and find things across its multiple categories with great ease. Quikr’s investors include Tiger Global Management, Kinnevik, Warburg Pincus, Matrix Partners India, Norwest Venture Partners, Nokia Growth Partners, Steadview Capital, Omidyar Network etc. Visit www.quikr.com for more details.