UK-India prop-tech startup Novvy.com on September 21 announced a strategic real estate investment product with Mahindra World City in Chennai to offer ‘Buy-to-Let’ asset.
A block of 100 apartments within Mahindra World City complex will be fully managed by Novyy on behalf of the buyers, said a press release. Novyy, it said, will provide complete asset management services to its buyers, including finding tenants, collecting rentals, maintenance, and upkeep of the properties.
Speaking about the launch of “Buy-to-Let” segment with Mahindra World City,
Ashish Saraff, Founder and CEO of Novyy Technologies, said, “We chose Mahindra World City as our first Buy-to-Let product in India for its exciting price point and the natural rental market that the region offers. There are over 65 corporates employing over 80,000 people in the vicinity, and supply outpaces demand. We are confident that investors will never have a dearth of tenants.”
Vimalendra Singh, Chief Sales Officer of Mahindra Lifespaces, said, “We are delighted to partner Novyy’s ‘Buy-To-Let’ proposition, which is strategically aligned to our ‘Mahindra Happinest’ offerings.”
