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September 18, Tuesday 2018 8:47 PM       

       HEADLINES: Lookout notice against eight in Abhimanyu case                                              Modi returns thanks to Mohanlal's birthday tweet                                              If Sabarimala pilgrim is changed to Vavaru Mosque pilgrimage, bus charge will come down: Ali Akbar                                              Thachankary seeks Lord Ayyappa's blessings, justifies bus charge hike                                              Jalandhar bishop calls nun ‘troublemaker’ in anticipatory bail plea                                              SC notice to Centre on plea seeking ban on 85 pesticides                                              Court summons Lalu, others as accused in IRCTC money laundering case                                              Bihar CM Nitish Kumar admitted to AIIMS                                              PM's silence on gangrape unacceptable; shameful govt leaves India's women unprotected: Rahul                                              Germany rolls out world's first hydrogen train                                              Imran Khan govt auctions 70 luxury cars as part of austerity drive                                              Nepal: Madhesis confident of govt addressing their demands                                              Archery coach Teja, athletic's Pannu recommended for Dronacharya Award                                              High expectations made me anxious: Ronaldo after Juventus goals                                              Kaumudi Facebook
       BUSINESS Next Article: Jio completes two years, aims to take India to 'top 5' in broadband connectivity  
       FastFox registers 3x growth post rollout of revolutionary 'Open House' model
         Posted on :17:44:06 Sep 8, 2018
       Last edited on:17:44:06 Sep 8, 2018
         Tags: FastFox ,Open House

NEW DELHI:  Home rental marketplace FastFox has announced a three-fold growth post its adoption of the 'Open House' model.
Clocking a month-over-month (MoM) growth of 20 percent, FastFox now extends handpicked renting options (through its AI-based recommendation engine that analyses 108 diverse data points) to its customers based on their end-to-end needs and preferences.
The customers can browse through the recommended properties, reserve time slots, and visit these Open Houses at the designated time. The platform also helps its customers with end-to-end paperwork and ancillary services that are required for relocation.
Since the rollout of its new business model,'s GMV run rate (annual) is now also peaking at USD 20 million. Its inventory, moreover, comprises 40% of the rentable houses in Gurgaon and is being used by more than 15% of all home seekers in the city. The monthly closures have simultaneously increased to around 280 to 300 per month, up from 100 during early 2018, which is also the highest monthly rental transactions registered by a single entity all across the country.
"We have observed positive changes on our growth trajectory since the adoption of Open House model. Now, our entire focus is on aggressively adding more inventory and expanding our business footprint to other high-potential markets throughout India," said co-founder and CEO,, Pallav Pandey.
On an average, anyone looking to rent a house in India has to visit 14 properties over a period of 12 days through 5 to 6 different brokers. It is also reported that 84 percent of the listings on online marketplaces turn out to be bogus. These might be some of the factors that are turning the market dynamics in the favor of and making it a fast-emerging player within its domain.

Next Article: Jio completes two years, aims to take India to 'top 5' in broadband connectivity
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