Valion, P.R.E.F.O, a Private Real Estate Family Office on Monday launched a real estate portfolio management portal myfollo to cater to property advisory for investors and end users.
The Gurgaon-based Valion plans to raise Rs 30-40 crore from investors by mid 2016 for expansion of the new entity across India. The company has already begin initial talks with potential investors.
myfollo will manage real estate portfolios online and would execute investments, disposition, advisory, lettings and residential property management for its online users. Valion focussing on HNIs for last 10 years plans to expand their reach to the middle and higher income group through myfollo. Studies indicate that over 82% of the Real Estate investments are done by this segment hence a large potential problem to solve..
Post launch, myfollo is targeting Rs 42,000 Crores of Assets Under Management (AUM) in the next 18 Months. Valion, the parent company, has already invested $200,000 for developing the team and platform for myfollo.
Post registeration on the portal, the website will automatically calculate the total net worth of the individual, give alerts, notitifications and will give recommendations on all assets.
“Indian real estate market is maturing at a rapid pace with many globally renowned realty companies and consultants opening up their shop here realizing the tremendous growth opportunities in this part of the world. However, there was a big gap in providing specialized real estate advisory for mid-segment investors and end-users. With myfollo’s professional team and real estate advisory pedigree, we plan to bridge the gap for the masses,” Mr. Amit K Lalit, CEO and Founder, Valion said in a statement.
The platform will be launched for Gurgaon NCR and would taken to top 8 cities of india in a phased manner.
Valion brings Top 100 developer relationships to myfollo platform and has existing 1,100 plus top HNI family relationships across Singapore, Jakarta, Delhi, Mumbai, Hyderabad and Chennai. It manages over Rs 4,000 crore of assets for these HNIs.
For managing the properties, Valion already has a company, PropCare, which manages 46 properties in Delhi, Bangalore and Mumbai and plans to manage 500 properties by next year.