Goel Ganga Developments, Pune’s leading developer, has recently ventured into the rental segment. The new venture titled ‘Goel Ganga Rent Easy’ will offer last-mile support to people in Pune, looking out for a place to rent. The full-stack platform also has separate verticals for buying and selling properties. The platform will handhold the buyer throughout their journey giving a seamless renting, buying and selling experience.
The rental market though overlooked is amongst the most crucial segments in Indian real estate. In most of the major cities in India, close to 35% of the inhabitants prefer to rent out a space. In cities such as Pune, which has a higher share of migrant workforce, the importance of the rental market further rises. In the midst of a hectic lifestyle, finding the right place to rent (or buy) is very crucial. It is important to lead a quality lifestyle and strike the right balance between work and life.
“With Rent Easy, we want to give a hassle-free experience to our users and manage all their pain areas across search, identification, and closure diligently. As we already have a strong foothold in the real estate industry, we know the pulse of the market very well. Brewing Goel Ganga’s rich experience in the real estate sector, the Rent Easy platform will offer professional advisory services keeping buyer convenience at the core,” says Gunjan Goel, director, Goel Ganga Developments.
Rent Easy will offer a wide range of properties under one platform. According to the company, it will have a very transparent pricing mechanism with no hidden costs involved. To further enable users to make better decisions, analytics & data-backed insights are provided.
In major economies such as the UAE, Germany, and Singapore, the rental segment comprises 50% of the overall demand. In other markets such as the USA and the UK, over 40% of the demand emanates from the rental space. In contrast, the market is relatively smaller in India despite underlying potential. Limited government regulations, poor rental yields, and the unorganized nature of the industry have undermined growth in the segment. Another factor that has been detrimental has been the dearth of big players in the space.
In this regard, the foraying of Goel Ganga Developments in this space will help in streamlining the market, bring in the scale needed to thrive, and simplify offerings with the help of technologies that Goel Ganga Rent Easy has to offer, according to the company.
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