Varun Mohan, Founder -; CEO, Definite

10 Mar 2022 , 06:22 PM

In an interaction with Mamta Maity, indiainfoline.com, Varun Mohan, Founder & CEO of Definite said “We are currently looking for expansion Asset wise and geography-wise, we have in the pipeline some interesting asset classes such as Data Center upcoming for our users.”

Can you describe your background and what has led you to venture into PropTech?

Definite is founded with an aim to democratize commercial real estate and make it a new destination for the new age wealth creators. With the combination of technology, finance, and real estate, fractional ownership is bound to become one of the most disrupting ways to build and preserve wealth. Definite is an innovative startup in the PropTech space that provides fractional real estate ownership to investors in the commercial real estate sector.

What are the major challenges facing the Indian RE Market and what role does PropTech play in addressing these challenges?

The Covid-19 pandemic created chaos and disorder in the global economy and India was no exception. For much of the COVID-19 pandemic, leaders in all the business sectors have tried to prepare for what might unfold. The commercial sector is important because it has a direct impact on the economic cycle. As people return to the office, we are expecting healthy and stable growth in the commercial real estate sector. Consumers may need larger spaces to operate from in the long run if social distancing becomes a norm.

Commercial real estate seeing green shoots with expansion by GCCs, significant growth is expected in the co-working sub-sector by many respondents, majorly fuelled by the demand for hybrid working models and the cautious approach of many organizations towards taking up commercial real estate on a full-time basis

How essential is tech and innovation in helping the Real Estate Industry reach its decarbonization goals?

The buildings sector alone contributes to 40% of global carbon emission inclusive of construction and operation. Decarbonizing the sector is crucial to achieving the commitments made under the Paris Agreement and the United Nations Sustainable Development Goals. When done right, decarbonization not only addresses global environmental challenges but can also contribute to cost savings, social equity, tenant and employee health, and well-being. The impacts of decarbonizing real estate are far reaching. Beyond emission reduction, it can improve the quality of life among tenants, employees and the surrounding community.

How can India continue to accelerate in PropTech?

With our Prime Minister’s vision of transforming India digitally PropTech is going to play a key role in keeping the real-estate sector up to date. The real estate industry is traditionally resistant to change. But as connected consumers today seek more out of their home buying experience, the communication gap between PropTech startups and legacy real estate players is reducing. The pandemic has undoubtedly made us all realize that digital transformation and technology advancement in every sector is the need of the hour and of the future otherwise business will collapse.

What are your future plans with regards to Definite?

We are currently looking for expansion Asset wise and geography-wise, we have in the pipeline some interesting asset classes such as Data Center upcoming for our users. We are already present in Mumbai, Delhi, Bangalore, Pune, Gurugram. Our key focus areas are to diversify asset class-wise with a broad range of assets ranging from Grade A offices to co-working spaces to warehouses to data centers and industrial manufacturing which can be able to generate good yields. Another is to diversify Location wise to some of the upcoming locations such as Bangalore, Gurugram, Pune, Delhi, and Mumbai.