HDFC RED

HDFC Developers Pvt. Ltd.
Type of site
 Online marketplace, Private
Headquarters Mumbai, India
Area served India
Key people Sohel IS (Chief Executive Officer)
Industry Real Estate
Website https://www.hdfcred.com/
Launched 2010

HDFC RED is a 100 percent subsidiary of Housing Development Finance Corporation, an Indian financial conglomerate based in Mumbai, India.[1] It operates under HDFC Developers Ltd. and is an online listings platform for real estate.[2][3]

Background

Founded in 2010 by Sohel I S, the company lists new properties and provides marketing services to developers.[3] It is present in more than 20 cities including Bangalore, Hyderabad, Mumbai, Delhi, Kolkata, and Ahmedabad.

As of 2017, the company claims to cover 80 percent of primary residential market in top cities and has generated over 10 lakh user inquiries.[4] It also claims to list approximately 8,000 projects from 4,000 builders.[3]

According to an article in The Economic Times, HDFC RED has grown at a CAGR of 54% since 2011.[4]

Board of directors

  • V Srinivasa Rangan
  • K G Krishnamurthy
  • D M Sukthankar

Mobile Application

HDFC RED is available on the App Store (iOS), and Google Play.[5] The application filters results on the basis of location, budget, size of the property, the expected time of shifting, and amenities.[6]

Congruence Engine

In November 2016, HDFC RED announced filing of a patent in India for its technology called Congruence Engine. The system claims to display properties using advance machine learning techniques.[7]

References

  1. ↑ "HDFC RED plans to digitise entire property-buying chain; focusses on primary residential market". The Hindu Business Line. 6 October 2016. Retrieved 14 April 2017.
  2. ↑ "Investor Presentations: Quarter Ended March, 2017" (PDF). HDFC Limited. 17 May 2017. Retrieved 4 June 2017.
  3. 1 2 3 "Burning cash on advertising isn't a wise strategy for housing portals: HDFC RED CEO Sohel IS". Forbes. 7 April 2017. Retrieved 14 April 2017.
  4. 1 2 "HDFC's realty startup RED plans to take property-buying digital". The Economic Times. 7 December 2016. Retrieved 4 June 2017.
  5. ↑ "Find your next house: From NoBroker to 99acres, here are the most popular mobile apps". The Financial Express (India). 9 January 2017. Retrieved 4 June 2017.
  6. ↑ "App Radar: Latest apps and games you should not miss". Mint. 15 July 2016. Retrieved 4 June 2017.
  7. ↑ "HDFC RED files patent for first-of-its-kind Real Estate "Congruence Engine"". India Infoline. 19 November 2016. Retrieved 19 June 2017.

Official website

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