They say Necessity is the mother of invention, and this can not be more closer to the truth when you read story of Mr. Ravi Agnihotri, ISB alumnus, and his company Ivy League Villas.
The company in just two years of incorporation is not only cash rich but also has been winning trust of various professionals across India who are willing to put their hard earned money in Ravi's venture.
To know more about the project, subscribe to our mailing list at http://eepurl.com/ihvtQ and we will send you a promo code to get further discount in 'Ivy League Villas' project.
This is Ravi's story and his startup Ivy League Villas:
Tell us about yourself and your organisation?
I am Class of 2011 ISB (Indian School of Business, Hyderabad) alum.
Business World found me worthy by mentioning in The Different Lot from amongst IIM and ISB folks and towards end of 2011, I founded my own company in real estate and named it Ivy League Villas.
Single Point agenda to set up this company was Exclusivity - 100% Clear Land titled projects with right approvals and conversions, but open for sale only to folks working with corporates or alums of reputed institutes. None of our projects are open for sale in open market, thus an 'Aura of Exclusivity' as every neighbour around is someone like you!!
What are your company roots? What was the 'eureka' moment when you decided to start the company? Who initially funded it? Was there any angel funding /PE/VC funding involved?
I was working with Yahoo as Product Manager Post my MBA at ISB. One day my Boss came to office, very upset!
On asking, he told that there's a rowdy guy living in his neighbourhood in a posh apartment community in Bangalore. Every day he misbehaves with my Boss and even manhandled him one day. That guy was some local guy with local business.
That day, I thought why not to have a community, a neighbourhood where everyone is educated and everyone is someone like you.
Intent was not to create anything discriminatory, but having a healthy neighbourhood where everyone has same professional background, i.e. is from either Top Institute (in any domain) or works with Top corporates.
Also, imagine the kind of networking opportunities it generates for people in such a community.
With that thought, I borrowed monies from my friends and family, and started 1st project 'The Aura' in Chevella, Hyderabad. Entire project got amazing response and got sold out in less than 21 days (92 villa plots)
In 25 words or less, what are you all about? What problem do you solve and for whom?
We are a niche real estate company creating Projects for alums of only top institutes (from any professional) or folks working with Top corporates. We are trying to create a community where everyone is someone like you in professional background, so that it's a healthy neighbourhood. We envisage a neighbourhood where clashes, rowdiness, unprofessionalism, tussle are words of the Past...and have an exclusive place to come back to after long tiring working days.
Tell us about your latest project and what is call to action to your prospective customer(s)?
We have started our 2nd project 'Silicon Valley' : http://silicon-valley.in/ now in 2.19 lakh crore IT Investment Region of Hyderabad, which is India's most corrected real estate market, and after Telangana's resolution, one of the hottest real estate destinations of India. To be part of the exclusive community and know more about the opportunity/deal, you may want to subscribe at http://eepurl.com/ihvtQ .
Ivy League Villas is selling Villa plots in its Silicon Valley project. I urge fellow professionals to go through entire details of the project, and make an investment with 5-7 years horizon in this high potential 2.19 lakh crores IT Investment Region (ITIR) of Hyderabad.
TCS is setting up (80% complete) its largest delivery centre in this region.
For our fellow professionals, I want to tell them that We know you are not around- you work or live elsewhere in same city or other cities. So, we provide free maintenance of entire layout for 2 years, 3rd year onwards at nominal fee. This includes maintaining parks, open areas etc., in the layout along with round the clock security safeguarding your investments.
Thus you can be rest assured after putting monies from pure investment Point of View that your monies are safe, and your Plots are being safeguarded by Ivy League Villas.
All details of our Silicon Valley project are mentioned in this Google doc at http://bit.ly/1ltaEKK
How do you make money (or plan to make money)? Who are your primary customers and why do they choose you?
We make monies by selling Villa Plots.
We buy agricultural land from Farmers after 3-4 months intensive legal due diligence, convert agricultural to Non-agricultural lands, take approvals from authorized bodies (Hyderabad Metropolitan Development Authority HMDA in case of Silicon Valley), and get projects cleared from banks for up to 75% bank loans.
At this point, we sell villa plots, and then develop the layout with Blacktop roads, boundary wall to make it gated community, Sewerage/Drainage, Lighting, Electricity, Bore well, Water tank, Open areas and Parks.
For people wanting us to construct villas for them, we construct Villa for them as well.
Primary Customers are alums of Top institutes across professions, and folks working with Top corporates.
They should choose Ivy League Villas because (a) you are dealing with professionals with same background (b) you are directly dealing with the promoter than a sales guy (of DLF, Hiranandani etc.). If Sales guy gets higher salary, he would change job and your chain of contact with developer breaks. Here you are directly dealing with the Promoter, thus level of accountability is more.
How big is your Business Development team? What is the current mix - purely technical vs MBAs? What are you plans for ramping up Business Development Team?
Business Development team is 6 folks, Liasoning team is 4 folks. Full time MBAs are 3- Two from ISB and One from HEC Paris.
We are expanding in Apartment projects now after Silicon Valley Villa Plots project, and at that point in time, we plan to ramp up our Business Development team, and spawn a new Corporate Marketing team for brand building across cities.
What are your dreams for your company? What trends do you see heading into 2014 and beyond that are relevant to your industry and company?
Dream is to become No. 1 destination for real estate investments amongst all Ivy League Folk s and all Folks working with Top Institutes.
Trends suggest people are recognizing and appreciating our efforts, and are willing to work and invest with us.
With Telangana issue getting resolved, Hyderabad real estate market currently at 850-1000 rupee per sq. ft. will bounce back to 3500-4000 rupee per sq. ft. to match Bangalore, Chennai and many Tier 2 cities (Bhopal, Lucknow, Jaipur etc.)
Thus, right time to invest with Ivy League Villas is RIGHT NOW
What are the biggest challenges you are facing in scaling your business up? Whats the #1 to # 3 thing on your To-Do list?
Biggest challenges are:
1) Getting clear land titles.
2) Financing as real estate are big ticket items.
Ivy League Villas is a Cash-rich company right now after our first successful project 'The Aura' in Hyderabad. And with 'Silicon Valley' 60% sale already completed in last 50 days, we intend to grow now into Apartment construction also along with many more layouts in Hyderabad (this city being most corrected market right now generating lot of demand)
Last but not the least; are you planning to give discount to IIMnet community members
Definitely yes! Currently our market price for Silicon Valley Project is at 1000 Rs per Sq. feet but we are willing to provide to alumni from Ivy League Colleges, referring IIMnet as promo code at 950 Rs per Sq. feet. We understand that IIMnet members are alumni from IIMs and other tier 1 B-Schools in India and hence this promotion. In case if you have questions, you can reach at +91 9 247 175 247 (Winny Patro, IIM C alumni) or firstname.lastname@example.org
Again, the details about the project can be access at http://silicon-valley.in/ (refer IIMnet to receive discount on all upcoming projects at Ivy League Villas)