Brickschain Launches World’s First Online Real Estate Exchange
Pune, 1st March 2023: “Brickschain’s platform allows investors to invest in real estate assets in fractions of their will, thus becoming a fractional owner in our real estate portfolio. This first-ever online real estate exchange will transform the investment pattern in real estate,” confirmed Alok Rai, Chief Operating Officer at Apiary Centre of Excellence at Software Technology Parks of India (STPI), Govt of India.
It is noteworthy that Dr. Anil Mundhe is a Ph.D. scholar at S. P. Jain School of Global Management along with focused research on real estate tokenization using blockchain technology. The idea of Brickschain was selected in the second cohort of the Apiary – Idea Challenge Program from STPI, (Government of India) working under the Ministry of Electronics and Information Technology out of 482 proposals. It is the first of its kind venture in the real estate sector.
He was addressing a gathering at the launch ceremony of Brickschain in Pune. Kamlesh Nagaware – CTO at snapper future tech & Mentor from Apiary, Shamik Ukil – Founder, Advisory Monks & Mentor from the apiary, Niket Mule – Assistant General Manager, Gera Developers, Anil Mundhe – Ceo, Brickschain, Mahendra Dhomase – MD, Brickschain along with other dignitaries were present at the occasion.
Inaugurating Brickschain, a fractional investment by the first customer named Mr Ulhas Tambe was initiated at the hands of Alok Rai.
Rai said, “STPI helps blockchain startups develop business ideas in commercial businesses with financial support. Nowadays, almost everything in day-to-day life is online. Banking, grocery, and gold bonds are a few examples. You can buy, sell, and retain your investment in fractions in the real estate sector at any time in a secure way using blockchain technology. This idea has been successfully implemented by Dr. Anil Mundhe.”
While explaining the venture, Dr. Anil Munde said, “With blockchain technology, the asset is more secure than any other technology. Brickschain’s investment opportunities are all commercial grade A properties yielding a rental income of 7% to 12% per annum, with value appreciation of around 10% to 12% depending upon market factors. Initiated in tie-up with Gera Developers, Brickschain plans to expand in fractional ownership of other assets such as Gold, residential real estate, land parcels, space crafts & aircraft.”
Mr. Vikram Pandya – Director, S P Jain College, Mumbai. The Fintech brand ambassador of the Maharashtra Government blessed this occasion via video conferencing.
