India’s fintech journey gave the world UPI, Groww, and PhonePe. Now, a Dehradun-headquartered proptech–fintech venture, Aawas Yojana, developed by TechYard Labs & WT IT Solutions Pvt. Ltd. with IIT–IIM alumni, wants to replicate that trust model in real estate by offering two digital ownership frameworks—slot-based booking and interest-free EMIs—both leading to final possession.
Earlier this year, Aawas Yojana appealed to Uttarakhand Chief Minister Pushkar Singh Dhami for state support to rehabilitate unsold housing stock worth ₹5,200 crore. If implemented, the plan could create 15.8 lakh job-years and deliver ₹300+ crore in fiscal revenues in five years.
At the national level, the platform’s PropTech Mission 2030 envisions unlocking ₹5 lakh crore in idle real estate inventory, creating 1.5 crore jobs, and generating ₹30,000 crore in fiscal inflows.
Two Paths to Ownership
1. Slot-Based Digital Booking:
- Buyers purchase slots digitally for listed projects.
- Allotments are decided via a transparent algorithm and live-streamed results.
- Escrow-secured payments and digital documentation guarantee final ownership.
2. Buy on EMI Plans:
- Buyers opt for 2, 3, or 5-year tenures at 0% interest.
- Installments are routed via escrow accounts, protecting funds until legal checks are complete.
- On completion, ownership is digitally transferred, followed by physical possession.
“Slot-based booking delivers fairness and speed, while EMI plans deliver affordability. Both converge on the same outcome: legal ownership and possession,” said Raj Chaudhary, Director – Global Expansion, Aawas Yojana.
How the App Works
The six-step app framework ensures trust across both paths:
- Sign-Up & Verification – Aadhaar/e-KYC and bank checks.
- Browse Listings – Only RERA-cleared, builder-verified projects.
- Choose Path – Slot Booking (live transparent allotments) or EMI Plans (gradual, 0% interest payments).
- Escrow-Linked Payments – Funds locked till legal due diligence clears.
- Digital Documentation – Agreements and receipts stored permanently in-app.
- Final Transfer & Possession – Notarized documents + physical handover.
“By digitizing trust through escrow, e-KYC, and AI-driven discovery, we are turning housing into an inclusion story, not just a transaction,” added Ayush Jain, VP – Governance & Ethics, Aawas Yojana.
Diaspora & National Vision
The company’s global iOS launch on Independence Day 2025 signals its intent to bring Indian diaspora buyers into the fold. Backed by PM Modi’s housing-for-all vision, Aawas Yojana believes its fintech-first model will mirror UPI’s adoption curve.
Every decade, India has delivered a leapfrog innovation—IRCTC in travel, Jio in telecom, UPI in payments. The next leap, the company claims, could be in real estate through Aawas Yojana.
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Last Updated on Saturday, August 30, 2025 12:59 pm by The Entrepreneur Today Desk
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