Real Estate Sector Phenomenon in Tier-II Cities –
Investing in the real estate sector in Tier-II cities can have two advantages price and growth potential.Real Estate Sector itself is another fragmented billion dollar market in India and is the fastest growing sector in India which accounts for 3% of total GDP share in Indian economy.
About Property Bihar
PropertyBihar is a platform which helps potential buyers and sellers to interact, exchange information on properties, and seal the deal!
It is both online as well as offline based startup. They help the buyers to know about each and every detail of their local area i.e., the yield, about government, policies and about next 5 to 10 years yields as well.
Rizwan who was born Bihar & grew up in Mumbai, He was working as a tech lead for a Digital Marketing firm Value Direct. He wanted to invest in Real Estate in his hometown Muzaffarpur, being none resident of Bihar, he had very tough time finding the right property within his budget and there we hardly any professional agency who could help him navigate good property, build confidence & assure him good deals.
He decided to take on this challenge, after almost a year of market research, speaking to hundreds of realtors & potential buyers, he decide launch a exclusive real estate search portal for Bihar.
“It is our moral duty to contribute something towards the society or do something for the betterment of the society which helps us to grow and achieve heights; and when we achieve something in our life. I am a firm believer of giving back to the society from where I originally belong.”
Investing in real estate in metropolitan cities was always going to be difficult because of huge concentration of funds in this particular sector and in economic terms what goes boom will come down one day!
Bihar has shown tremendous growth in last 10 years under the leadership of CM Nitish Kumar. But there is one side of the market that remains untapped. This leads to a market opportunity to be tapped on!
Traction and Social Proof
After the launch of this startup 2 years back, it established its presence in all big cities of Bihar and claimed to have gained a virtual monopoly in Bihar’s real estate Market through its unique LeadGen & CRM offering for realtors. PropertyBihar reached break-even point and crossed 2 lakh visits organically within 2 yrs and have recently launched their premium plan for real estate agents and builders.
They claim to have more than 3000 real estate builders & consultants registered with them, with 10,000+ properties listed and generating more than 8,000 inquiries every month. More than 20,000 people follow PropertyBihar on social media majorly on facebook & linkedin.
#iLoveBihar Social Media Campaign
#iLoveBIhar campaign b PropertyBihar which went viral on social media, featured a Bihar origin girl named Bushra who is a student & lives in Delhi. She brings out very positive image of Bihar and says although past were not so beautiful but present is completely all about development, growth. Since she loves the state and its soil so much that she wants to go back to Bihar & be the future.
Social Media Campaign to Encourage Non Resident Bihari to Invest in Bihar
Posted by Property Bihar on Sonntag, 5. März 2017
Further Scaling & Growth
Speaking to Rizwan on further scaling & growth of PropertyBihar he quoted
“Jio, and those that follow it in enabling affordable access to data services, is a true rural india’s gain hence startups in the Internet niche can now look forward to a brand new perspective of entrepreneurship, driven by data and information, rather than location and traditional ideas.
With affordable & easy accessibility of internet and the newly passed Real Estate Regulation Act (RERA) by Govt of India. Which Bihar state cabinet has already approved rules to clean real estate sector, protect interest of homebuyers is going to result in better future for Real Estate especially in the tier 2 cities. We are going to speed up our customer acquisition as soon we raise our 1st round of fund for which we are already in discussion with few investors who has shown keen interest investing in PropertyBihar”.