RealX aids 57 investors acquire Ayodhya plots worth Rs 100.4 mn

16 Jul 2024 CW Team

RealX, a fractional ownership platform, has facilitated the acquisition of over 3,500 square yards of commercial land in Ayodhya for Rs 100.4 million. According to a statement by RealX, they successfully concluded the purchase of a commercial land parcel measuring 31,646 square feet (equivalent to 3516.22 square yards) in Ayodhya, valued at Rs 100.40 million.

The transaction involved 57 investors who pooled between Rs 50,000 and Rs 2.5 million each to acquire proportional ownership rights in the property.

The statement emphasised that this deal marks a significant advancement in democratizing access to high-value real estate through fractional ownership and property tokenisation.

According to the statement, fractional ownership addresses the challenges associated with owning expensive assets like real estate, yachts, and private jets. It noted that traditional ownership often entails substantial capital investment and ongoing maintenance costs, which are prohibitive for many individuals. Fractional ownership, by distributing these costs among multiple investors, enables broader access to high-value assets without bearing the entire financial burden.

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