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Hyderabad Startup Helps Indian Middle-class Co-Own Property; Clocks Rs 40 Cr
- Fracspace, a Hyderabad-based property tech startup, is allowing middle-class people to co-own a property and reap the benefits of real estate returns.
- Fracspace offers properties for co-ownership in 15+ locations like Goa, Munnar, Hyderabad, Kerala, Bali, Dubai, and the USA, including holiday homes, resorts, and even rental apartments.
- Unnath Reddy founded Fracspace in 2022 with a minimum investment of Rupees 10 lakhs and a stable annual return of 8% being offered.
- Fracspace is making a fast growth as a co-ownership platform, projected a revenue of Rs 100 crore in FY25.
- This hyderabad-based startup is offering complete transparency when it comes to invoices, guest bookings, and bills, which are communicated through WhatsApp groups of each property co-owner.
- Fracpsace application has diversified services including buying, selling, and renting properties, interior consultation, property management, housekeeping, and more.
- The startup is working towards becoming a travel and accommodation aggregator, and by the end of 2025, it also wants to cater to B2B audiences by providing SaaS services.
- The founder, Unnath Reddy, and his team are shifting to a resort-type office as they are aiming for more growth.
- With a turnover of Rs 40 crore in FY24, Fracspace was launched to make luxury accessible to the Indian middle class regarding passive income and ownership.
- Fractional ownership was not a trending concept when Fracspace started, but it took extra effort for Unnath Reddy to get investors and make potential customers aware of the use-case of co-ownership.
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