Aditya Verma, the former CEO of Makaan.com had quit the company in December 2016 to open 'The Office Pass'. The startup, which is a technology platform to help firms and professionals to find office spaces, has finally been launched.
Aditya Verma, the former CEO of Makaan.com had quit the company in December 2016 to open ‘The Office Pass’. The startup, which is a technology platform to help firms and professionals to find office spaces, has finally been launched. The addition to the office space market is a fresh initiative in a sector saturated with residential real estate technology startups. This will get Micro, Small and Medium Enterprises (MSMEs) to find an office even if they do not have solid credentials for long lease and block money into deposits. Earlier, such companies preferred working from homes and cafes, while remaining under the radar for many developers and owners who generally rent out to MNCs. But for the 1st time in the country, companies and professionals can take office space on the hourly, daily or monthly basis.
Aditya Verma, said, “Like UBER can connect you to a cab in 10 min, we aspire to connect companies; professionals with office spaces within 5 km. Most office goers waste precious time and money in commuting to work. If they are able to work from a nice and affordable office nearby, it will solve a big productivity problem for Indian companies.” The first facility of the startup was launched earlier this month at Sohna Road, Gurgaon with few paid members. The startup is reported to be in the process of closing between $200,000 and $300,000 for a seed investment, but this could not be independently verified. “We are not a real estate company; we are a technology company solving a real estate problem. We will pursue a capital-light model, as that is the only way to scale. UBER will not be what it is if it owned assets,” Aditya added.
Following a slowdown in IT and ITES, there has been a decline in the commercial real estate sector in India. This has forced owners and investors to think about newer models of return generation. The Office Pass is a part of TOP Technologies Private Limited and is aimed at connecting companies and professionals to ready to use and economical co-working office space, much like Uber and AirBnB connects users to cabs and vacation homes. Expenses such as security deposit, maintenance charges, lock-in period, furnishing; equipment, rental, electricity, WiFi, security, housekeeping etc are also taken care of by the company