News Update

YourOwnROOM Secures $6 Million Partnership Deals for 1,000 Residential Units in Bangalore

• ByStartupStory     |    February 26, 2024

Proptech innovator YourOwnROOM has inked strategic partnerships worth $6 million with two prominent developers, marking a significant leap in securing high-quality residential inventory in strategic micro-markets across Bangalore. Prabhat Kumar Tiwary, Founder, MD & CEO of YourOwnROOM, sees this as a pivotal growth strategy for the company.

The first partnership, valued at $2 million, is with Agser BuildTech Pvt Ltd. YourOwnROOM will serve as the designated Residential Rental and Property Management partner, overseeing end-to-end PropTech-based rental and property management services. The initial project, Abhi Homes in Devanahalli, Bangalore, boasts 248 units with handovers scheduled for May 2024. Additionally, Agser Homes in Malur, Bangalore, comprising 331 units, will see 56 units ready for handover in May 2024.

In a December 2023 collaboration, Rushmore Estates and YourOwnROOM signed a $4 million deal to construct studio pads for single professionals in Bangalore. Alok Kumar Singh, Co-founder of Rushmore Estates, emphasizes the aim to provide self-sufficient, high-quality living spaces within the IT belt, with the project valued at around Rs. 200 Cr. The first phase is set to be ready for possession starting April 2025.

YourOwnROOM will act as the Proptech Residential Rental and Property Management partner for these projects, ensuring professional multi-year rental and property management services, fostering continuous cash flow, superior rental yields, and capital appreciation for homeowners. Sanjay Singh, COO & CTO of YourOwnROOM, highlights the importance of partnering with a Proptech company early in the project concept stage.

The Indian real estate sector is poised to be a $650 Bn market by 2025, contributing significantly to the country’s GDP and job generation. Bangalore’s booming IT industry, with a substantial young workforce, fuels the demand for purpose-built mid-term stay studio apartments.

“We look forward to a long-lasting relationship with YourOwnROOM,” says R. V. Shiva Reddy, Managing Director of Agser Buildtech Pvt Ltd, emphasizing the partnership’s potential to bring opportunities for clientele seeking investment-worthy apartments.

Prabhat Kumar Tiwary expresses excitement about the partnerships, stating, “Tighter partnership with Developers and Propcos is one of our core GTM strategies and this will set the momentum for our Profitable Growth in 2024-25 and beyond.”

“In Bangalore’s 1.5 million strong IT Industry, around 45-50% professionals are in the
age category of 21 to 27 years with less than 5 years of work experience and there’s
a large demand for high quality, purpose-built mid-term stay studio apartments for
them.” – Alok Kumar Singh, Co-founder Rushmore Estates.

As the real estate market in Bengaluru continues its exponential growth, YourOwnROOM’s strategic collaborations position it at the forefront of meeting the evolving demands for safe, secure, and convenient homes, especially for professionals in the early stages of their careers.

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