Varun Ahuja, Co-Founder of 1stkeys.com, started his career from retail. His interest in real estate developed seven years ago when he was looking for an apartment for himself in Gurgaon. He has been associated with some big names in Real Estate before he realized the need to bring more transparency and professionalism in this sector. With this aim, he formed his own venture and termed it as ‘1stKeys.com’, a Dream Project. He now looks to expand its operations in domestic as well as international markets within the current financial year. In a conversation with Team RealtyMyths, Varun discussed in length about his expansion plans and how the current developments will impact the market.
How do you plan to build this company? What are your expansion plans?
We started on 15th January, 2016 with four founder members and a young energetic team. 1stKEYS is a technology driven real estate firm, which provides a platform for property seekers who are looking for an unbiased advice. It is led by dynamic real estate professionals having vast experience of global real estate market. Company has strong support by Angel Investors from Dubai and Singapore. With a vision to match necessity of homes with easy availability with the help of technology and by the advice of experience and reliable team, company endeavours to create new milestone in the Real Estate Industry. 1stKeys is focused towards primary Residential/Commercial Properties markets and in the near future, company will slowly move to Secondary markets, Research reports, Renting, Relocation services and Property Management Services (PMS) as well. 1st KEYS promoters have a vision that By FY 2016-17, company will mark its presence in 8 cities in India (Gurgaon/Noida/Mumbai/Pune/Bangalore/Kolkata/Chennai/Jaipur) and 3 other countries (U.A.E/Singapore/U.K). We are also planning to increase our backend team to make the user experience unforgettable.
Do you think the provisions under RERA will it help brokers to get more business?
Yes indeed! We really appreciate the bill. There was a distress in the market since long. Such bill was needed for the buyers to believe and have confidence. As a brokerage firm, we are open for all kind of opportunities and collaboration. As soon as the market settles I think we would grow our business more. We are new, confident with mad exuberance to go out to the market and strike the right chord.
Why brokers are looked through cautious eyes? How do you think this can change?
There is a huge clutter in the broker market with loads of unorganized and easily available players. People should choose the right and trusted broker who can keep his words and deliver what promised. Digital media has brought in some transparency in this market and has helped filter the brokers as per their regions. This was very much required. Time has changed, market has evolved the brokers, and they are now much matured and qualified. Brokers are going out for businesses in a professional attitude now. They are gaining a lot of trust. Bridging the gap between buyers and builders is not an easy task.
Do you think Repo rate revisions and EMI’s make any impact on buyers buying decision? What actually matters to them?
Rate revisions and lowering EMI’s will indeed have a great impact on this sector. The disposable income is increasing; there is demand in this market. People are waiting for the right price from the builders. Lucrative offers, loan opportunities, payment options are the best way to garner attention. Even the commercial space market has started picking up. Let’s look forward to a proper and transparent real estate ecosystem. I have high hopes from this government.