'Realty investment via fractional ownership increased amid pandemic'

New Delhi, Jan 17 (IANS) Investment into real estate through fractional ownership has gained a momentum in the country amid the pandemic, according to 'hBits', a fractional real estate ownership platform.Shiv Parekh, Founder of hBits is of the view that investment through fractional ownership is still at a nascent stage. Overall investment in India in commercial real-estate through fractional ownership stands at Rs 800 crore and is growing at a dynamic pace of 200 per cent, he said."During Covid, there has been a rise in fractional ownership as an investment option. It offers steady and secured returns which are far better than bank interest FD returns," Parekh said.The platform aims a target of Rs 100 crore investment by the end of the financial year 2020-21, he added.Recently, hBits signed a strategic partnership with SMC Real Estate Advisors.The tech-enabled real estate company has also successfully closed a commercial property deal worth Rs 40 crore recently.
--IANS rrb/sdr/