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VC-backed MetroPlots.com to expand in 20 cities across India

Chennai-based real estate online advisory
portal MetroPlots.com, has said that the company has decided to enter 20 more
cities across India as a part of its expansion plans. MetroPlots already has a presence in Chennai,
Bangalore and Delhi /NCR and claims to have completed 400 deals on its website
with more than 100 builders across 3 cities.

Chennai-based real estate online advisory
portal MetroPlots.com, has said that the company has decided to enter 20 more
cities across India as a part of its expansion plans. MetroPlots already has a presence in Chennai,
Bangalore and Delhi /NCR and claims to have completed 400 deals on its website
with more than 100 builders across 3 cities.

Most of the 20 cities planned for expansion
will be Tier 2 cities as the company thinks that Tier 2 cities in India are
fast becoming investment destinations for NRIs and property investors. “Looking
at the current real estate scenario, it can be safely said that realty sector
in Tier 1 cities have reached a saturation point, hence the investors see tier
2 cities as attractive investment destinations,” the company has said in a
statement.

In April 2012, MetroPlots.com had raised its
second round of angel funding from existing investors R Ramraj (Founder, Sify),
Sudhakar Ram (CEO, Mastek), Babu Thiagarajan (CEO, Quscient), Rajeev Mecheri
(Mecheri Capital), who are members of Chennai Angels, and Vardhman Jain, a new
investor. It was said that the funds would be used to expand geographically and
increase the headcount of the company. MetroPlots.com has an end-to-end online
transaction-based service model where we partner with leading Developers and
Banks in the country.

Read more about MetroPlots on LaunchPad.

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