Blox, a digital real estate platform, has acquired an 11 per cent stake in real estate brokerage firm Guardians for USD 12 million, with plans to increase ownership to 50 per cent over the next three years. The acquisition positions Blox and Guardians as India's largest real estate seller, managing annual sales of 25,000 homes with a GTV of USD 2 billion. Blox aims to increase its GTV to USD 10 billion within 3-5 years. The partnership combines Blox's technology and Guardians' market expertise, creating a dual-pathway sales model that will transform India's real estate market.
Earlier this week, digital real estate platform Blox announced it had acquired an 11 per cent stake in real estate brokerage firm Guardians for USD 12 million. The company intends to increase its ownership to 50 per cent within the next three years, as stated in an official announcement.
Blox highlighted that the acquisition strengthens its position alongside Guardians as the largest real estate seller in India, managing annual sales of approximately 25,000 homes, with a consolidated gross transaction value (GTV) of USD 2 billion in the primary residential market. Looking ahead, the company plans to grow its GTV five-fold, aiming for USD 10 billion within the next 3 to 5 years. Blox operates under both direct-to-consumer (D2C) and business-to-business-to-consumer (B2B2C) models.
The platform, founded in 2020 by Aditya Jhaveri and Shivani Karia Jhaveri, allows homebuyers to purchase properties entirely online. Backed by USD 35 million in funding from investors like Kunal Shah (founder of CRED) and Justin Mateen (co-founder of Tinder), Blox combines advanced AI with a broker-led B2B2C approach to provide a seamless real estate experience. Guardians, established in 2016, has launched 174 projects and sold 23,000 units, accumulating a sales value of USD 5.54 billion.
Blox's founder and CEO, Aditya Jhaveri, shared the company's vision to transform the Indian real estate market by creating a transparent and seamless experience that brings value to buyers, brokers, and developers. He also mentioned that by integrating Guardians, Blox would not only enhance the homebuying process but also establish India's first platform supporting both D2C and broker-led B2B2C sales. According to Jhaveri, this dual-pathway model would be a significant game-changer for India's real estate sector, offering developers unparalleled reach and flexibility.
Jayesh Rathod, Director of Guardians, expressed confidence that the partnership with Blox would reshape the Indian real estate market. He mentioned that by combining Guardians' market expertise with Blox's technology, the two companies would set a new benchmark for transparency, efficiency, and service.
Blox's acquisition of Guardians is a strategic move to strengthen its position in the Indian real estate market. By combining advanced technology with market expertise, Blox and Guardians are poised to set new standards for transparency, efficiency, and service. This partnership not only enhances the homebuying experience but also offers developers greater reach and flexibility through a unique dual-sales model, which could revolutionise the sector. With ambitious growth plans, Blox is positioning itself as a leader in India's evolving real estate landscape.
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