How Online Marketplace PurpleYo Powers the $100 Billion Commercial Real Estate Industry

BANGALORE, June 9, 2016 /PRNewswire/ --

PurpleYo is an online commercial real estate marketplace that uses big data analytics to provide end-to-end solutions for people looking for office space, real estate brokers and property developers and landlords. Commercial real estate was long resistant to adapting new technology, but that seems to be changing, as platforms like PurpleYo give occupiers, brokers and property developers an advantage in a business that increasingly depends on data analytics.

Traditionally, finding an office space has been laborious and time consuming given the lack of transparency and technology in the commercial real estate industry. However, with PurpleYo people can find an office across India in minutes.

Started about 18 months ago, and with over 490 million square feet listed, PurpleYo is one of the biggest players in the commercial real estate industry. Over 30,000 brokers and commercial real estate executives use PurpleYo every month to find office spaces. All listed properties are verified by the company. Data is available across 18 cities in India, including Mumbai, Bangalore, Delhi, Gurgaon, Noida, Pune, Hyderabad, Chennai and Kolkata. PurpleYo provides options for small, medium and large sized office spaces, SEZs, IT parks, and retail spaces for showrooms, shops, restaurants, etc. Over 50 parameters are provided to analyze and compare these properties which provides essential features, size, floor, building completion status, location attributes, availability, occupancy, etc. The parameters are segregated into three main categories - building attributes, building safety, security and other features.

Users of PurpleYo have free access to all listed properties and can contact a commercial property landlord or developer directly. Users can use a collaboration feature called Boards, which allows them to save and compare shortlisted properties, share with decision makers who in turn can view, comment and rate them. This saves users the hours they need to make presentations before presenting shortlisted properties to decision makers.

The Indian real estate market was worth USD 93.8 billion in 2014 and is expected to reach USD 180 billion by 2020. PurpleYo in a short period has positioned itself to tap into this growth, and power the industry with analytics and technology. While primary focus has been on growing the India market, the overall business model and technology are global and scalable, and PurpleYo is planning expansion into Asia and parts of Europe by the end of 2016.

While most real estate listing platforms depend on listing fee as primary sources of revenue, PurpleYo's primary revenue comes from an innovative digital marketing and data analytics platform. Property developers and landlords purchase subscription to this cloud-hosted platform to market their buildings and to analyze past, present and future details on space availability, occupancy, upcoming supply, rent trends etc.

About PurpleYo:  

PurpleYo is founded by Karan Chopra, 31, a former CRE broker who is also a serial entrepreneur and who founded BoxofE at the age of 24. Via his first-hand experience as a broker and as an occupier of commercial real estate, Karan identified the unavailability of commercial real estate information, which lead him to start PurpleYo.

For more information, visit: http://www.purpleyo.com

Media Contact:
Karan Chopra
President and Founder
PurpleYo Technologies Pvt Ltd
[email protected] 
+91-80-69990802, +91-9845616915