Lodha Group, one of the biggest players among realty developers, has come up with an investment fund named as Startup Investment Fund to help several startups who are focused on creating value in real estate and developing smart city space in India.
The company has an initial investment of Rs 50 crore. Under this plan, all the realty startup including the beginners will get angel funding or venture capital along with business opportunities, industry contacts and mentor support.
The support will be broaden to all aspects of the value chain with digital marketing, analytics, Customer Relationship Management (CRM) and smart city services. The plan is to use the technology and smart solutions to address the prevailing inefficiencies in the sector.
According to Lodha Group, they have been working on this project from 2-3 months and funds are invested to 2-3 business ideas. By March 2017, the first round of investments will be completed.
Abhishek Lodha, MD of Lodha Group, is really hopeful with the recent news on the decline in interest rate and expressed that he government’s new incentives for low cost housing will enhance the overall growth of the real estate sector.
“As India ushers in a new era on the back of path-breaking policy changes such as demonetization, RERA and GST, the sector too will reap its benefits in the long run,” says Lodha.
Source: ET Realty