Urban Living Spaces, a development management servicing company has partnered with Radhika Projects, a property developer for the development management (DM) of their upcoming residential projects in Hyderabad. The 252 residential projects under the name IHITA are worth INR 270 crores. The 24-months partnership will begin on April 15, 2022.
Urban Living Spaces will provide its Adtech, Proptech, FinTech, and BuildTech solutions to Radhika Projects for the development and management of their future projects.
During this partnership period, Urban Living Spaces will also provide real-time industry experience to young working professionals from Radhika Projects. All The approvals for the upcoming residential township by Radhika Projects are put in place with bank loan tie-ups which include SBI and HDFC banks. The projects will be designed in an eco-friendly way by using modern green building concepts.
The partnership is going to benefit both the Companies in terms of marketing and Return on Investment. The latest AdTech, Proptech solution is going to help the organizations in lowering the cost of sales, reaching out to the right customers, project profit monitoring, automation of documents, and credit control revenue management. Proptech describes the usage of technology and software to digitize the workplace experience.
It offers advanced data and analytics capabilities for real-time feedback and managing assets. Urban Living Spaces will also assist Radhika Projects with various strategies required in the project lifecycle such as branding, marketing, sales, feasibility, fundraising, and CRM for a better customer experience. The execution of projects will be managed by BuildTech using steel formwork technology for better finishing quality, RoI in construction, and quick completion of projects.
Talking about the partnership, Naveen Mypala, Founder of Urban Living Spaces said, “The Proptech solutions offered to Radhika Projects for development management of their upcoming projects will raise their sales opportunity by 25% and employability by 30%. We are looking forward to providing our 20+ years of industry experience to the young professionals with the process and Tech-based workbench to monitor performance and improve customer experience and training them in this field. The partnership is also going to encourage other developers in leveraging our cost-effective Proptech solutions for the execution of their projects seamlessly.
Adding to the same, Sunil Damodar, Founder of Radhika Projects stated, “The latest Proptech solution offered by Urban Living Spaces is going to help in building the brand image of the company and elevating the sales process. We are coming up with 252 eco-friendly and
sustainable residential flats in Hyderabad, demand for which has increased in recent times.”
Currently, the Proptech solutions for automated execution of projects are used by top developers of the real estate industry. This partnership will encourage small and medium-sized developers in adopting SPACES Proptech solutions at a lower price, which is around INR 10 lakhs per project for implementation. By integrating multiple tools and service providers on a single platform, Urban Living Spaces aims to help developers to save time and money about INR 2 crores and offer the same platform on a retainer model at INR 5 lakhs project.
It will also save developers’ time and help them focus on core business growth areas and in the execution, this implementation process can be completed in just 2- weeks, which originally takes 6-8 months. Urban Living Spaces will spend the marketing and sales expenses for the mandated projects to achieve the project sales and on-time collection to maintain the cash flow. The company has completed multiple similar partnerships in the past.