Ravi Tilekar
The real-estate sector, while being one of the largest contributors to the country’s GDP, it highly lacks Tech adoption and so ease of leveraging multiple related services along with transparency become one of the key draggers.
Hence, Propdial through its Property Management Service approach builds a long-term partnership with property owners and so bridges the gap of trust while offering a bucket of services with transparency, real-time updates, and digital access to the dashboard anytime, anywhere.
Propdial, a Gurugram startup founded by Gopal Mishra and Vinay Prajapati in 2017, helps NRIs and Indians living in other cities manage their properties remotely. While working in the United States, Gopal Mishra faced a similar problem while managing one of his Gurugram properties. On the other hand, his close friend Vinay Prajapati, who was already in the real estate business, was looking for newer opportunities in residential property management because demand was increasing. Both saw this as a futurist big market opportunity to build. Vinay and Gopal are both Engineering graduates from premium Institutes and have worked with Global companies before starting their own venture.
The uniqueness of Propdial is to offer a single-window hassle-free e2e property management solution with a dedicated property manager on the ground. Start-up exploits physical and digital expertise to help property owners get right ROI with peace of mind, also giving back free time to address other priorities, which was otherwise occupied in managing their properties or worrying about it
Every detailed report, including legal documents, inspection reports, tenant leads, repair work, visits, and so on, is uploaded to the customer’s unique account, which includes pictures. According to founders, the goal is to provide relief to owners, especially given the prevalence of illegal possession in cities.
Many clients, according to the founders, do not want to rent out their property but rather want to keep it up to date. Regardless of whether the customer chooses a single service or multiple options, the annual fee remains the same.
As part of the property management service (PMS), the company offers a bucket of services that makes the owner’s life simple and all data /updates available at a click.
Some of the services that are included in the PMS pack are :
- Renting/Leasing – Propdial will find the tenant if the property owner wants to let out
- Tenant background verification and rental agreement – all documentation online
- Rent collection and bill payment
- Quarterly property inspection with pictures
- Maintenance as needed (painting, plumbing, electric work, etc.)
Post Covid-19, while digital acceleration has picked up in this space there is a sharp pickup on demand for such professional services as property owners now find it difficult to get favour/ support from friends, neighbours as was still possible earlier, but now they don’t want to step out and interact with unknown.
Their audience is property owners living abroad having properties in India or resident Indian living in different cities or other corners of the same city finding it tedious to take care of their properties and related operational issues.
Their mission is simple – They wanted to bring technology play in addressing e2e property management service needs, so a property owner doesn’t require to interact/ coordinate with “N” number of stakeholders, manage a lot more hassles and challenges rather be in touch with one dedicate professional and get all sorted with a peace of mind.
As of now, Propdial has already a customer base from 45+ Countries and multiple key partnerships from ecosystem players/leaders along with expanding its operations to 17 Cities across 7 States in India and gradually building a deeper presence in new cities added.
In the next two to three years, the startup targets to expand to 12 states and 30 top cities with a deep presence, with a revenue target of Rs 200 crore.
The company has raised $500,000 so far, both internally and externally, and is gearing up for its next round of funding. “We plan to raise $2-3 million in pre-Series A funds in the coming quarter to fuel growth and enhance tech,” Gopal says, adding that the company is in talks with multiple listing platforms for integration to drive next-level growth.
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