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E-commerce in realty! How Square Yards aims for e-com-like velocity in home sales with Black Friday online doorbuster
ETBrandEquity  |  November 27, 2019

Tech-enabled real estate brokerage firm, Square Yards, has announced kicking off its Black Friday online doorbuster on November 24. Every day between November 24th and December 1st, home buyers get access to a handpicked list of over 100 discounted offers on residential properties in India, UAE, Canada and Australia.


While Black Friday deals will be available at Square Yards’ experience centres in 20 cities globally from 29 November to 1 December 2019, home seekers can block deals online on the Square Yards website from 24 November through 1 December and close a property of choice within 90 days or get a full refund, the company said.


Tanuj Shori, founder and CEO, Square Yards, said, “Few years ago, when e-commerce, insurance and mutual fund companies started selling their products online, most naysayers said it was a tall order. Today, the same is thought when real estate and online sales are mentioned together. However, the pace of change has surprised many generations. We believe the journey will evolve, and slowly the value chain will continue to go digital. We are trying our best to prepare ahead of times and be the protagonist leading this change."


The company added that amidst the Indian economy seeing a slowdown across sectors and real estate reeling under the liquidity crisis, which has worsened in the second quarter, Square Yards beat all estimates by announcing a 56% yearly growth in revenue for Q2 FY20, reaching INR 75.5 crore, while its profitability improved sharply, with gross profit increasing by 115%.


"We are making it possible for homebuyers in India to scan a code in their newspaper and initiate a home purchase by blocking a deeply discounted deal, with the click of a button. And what could be better than Black Friday &ndash the most awaited day by online shoppers around the world - to launch an initiative that truly takes home sales online," adds Shori.


Moreover, prominent brands like DLF, Godrej, Shapoorji Pallonji Group, Hero Homes from India. EMAAR and Danube from the UAE, Kaneff Group from Canada, Jellis Craig Projects and Kincaid from Australia are offering deals on their housing projects.