hBits Aims To End FY21 With Rs 100 Cr In Realty Investment

hBits, a fractional real estate ownership platform, aims to end 2020-21 with Rs 100 crore in investments, its co-founder has said. “We’ve already achieved an investment of Rs 60 crore in the last two leased properties. During Covid-19, there has been a rise in fractio

BY Realty Plus
Published - Thursday, 07 Jan, 2021

hBits Aims To End FY21 With Rs 100 Cr In Realty Investment

hBits, a fractional real estate ownership platform, aims to end 2020-21 with Rs 100 crore in investments, its co-founder has said. “We’ve already achieved an investment of Rs 60 crore in the last two leased properties. During Covid-19, there has been a rise in fractional ownership as an investment option,” Shiv Parekh, co-founder at hBits, said. The company has signed a strategic partnership with SMC Real Estate Advisors to offer fractional ownership of commercial properties to more than 1.4 million investors associated with that company. In the last three months, the company has reached out to more than six financial advisory companies. hBits at present has more than 10,000 registered customers. Fractional ownership, a relatively new concept in India, allows a real estate investor to own the rights to use a property for a specific period of time at a fraction of the cost of the property. It offers a steady and secure return on investment at 15-18%.