I am happy to inform you all that I have invested into this new idea real estate advisory firm called Urban Nido. Urban Nido makes use of the artificial intelligence to predict the possible growth rate of property and maps it to your financial needs and objectives. That is a pretty cool thing given the absolute speculation that drives real estate market in India.
How did I arrive at the idea for Urban Nido? Up on the insistence of my mom I started looking out for villas around Hyderabad. As it was pandemic time, I wanted to keep my interaction with real estate agents low. I have gone to what I want to call as the “Orkuts of Real Estate” – websites that have endless listings without any verification. What is pathetic – you would realize that in some cases the property is listed by multiple agents by seeing their images. I realized in no time that there is a huge opportunity that is awaiting to be explored.
The multi-billion dollar market that needs to be formalized and digitized must be a hot cake for all the VCs. No? The answer is a big NO. Realty-Tech is one of those areas that has been forgotten by VCs after 2017.
One of the reason for stagnation in realty-tech is a particular gentleman named Rahul who exposed the problems of traditional real estate model, worked towards ensuring a world-class product. The company was toured to be the next unicorn. Unfortunately the founders got into problems and the original idea that the company was pursuing never became reality.
But the unintended by product of that story was a decrease in the overall interest of investors in real-tech space. That makes it more lucrative for my kind of investment. That why I started scouting for startups ideas in this area.
I got in touch with the team that is working on an idea. The prototype seemed interesting. There were a couple of ideas that still needed fixes. I always felt that the real estate is seen as risky investment in India because of lack of predictable models. We have a lot of real estate salesmen and agents. But, a very few trustable advisors. My interest was to see this new project that I nicknamed Urban Nido evolve into a real estate advisory company giving pros and cons of a specific investment and help the buyer arrive at a decision taking into account all the individual financial goals.
So, I met the team over zoom a couple of times to and agreed to invest into this idea and volunteer for a couple of hours over the weekend to talk. That is how Urban Nido took birth.
PS: Let me continue grab your attention further to make a little pitch. We guys are going to tackle real-estate bull by its horns. If you want to be remembered as a part of the team that brought in a fundamental change in an industry, Urban Nido is the best place for you !