What is RERA

Real Estate sector has been growing over the past few years, but has been unregulated from the perspective of consumer’s protection. This sector has acquired certain disrepute, adversely impacting investment climate and hurting the interests of lakhs of home buyers every year. This Act was passed in the lower and upper houses of the  parliament in 2016, and shall come into force on May 1, 2017 to verify and formulate rules for the functioning of the regulator. According to RERA, each state/UT has its own regulations framed and including the National Capital. This Act enhances the overall transparency, accountability and efficiency in the construction industry. The Central/ State Governments enforced  section 2, sections 20 to 39, sections 41 to 58, sections 71 to 78, and sections 71 to 82 of the RERA Act in May 2016. Certain sections of the Act were not notified then, as the institutional structure weren’t established then, namely the Regulatory Authority and the Appellate Tribunal. The remaining sections of the act came to effect in May 2017. According to the Regulatory Authority and Appellate Tribunal, projects can be sold only after they are registered with the Authority.

Salient Features

Until now home buyers have been facing problems regarding cost escalations, delays in projects, one-side contract terms, arbitrary changes to plan etc. With the execution of this Act:

  • Developers have to register all new projects with “Real Estate Regulatory Authority” before booking, selling or offering new projects.
  • Ongoing projects have to receive completion certificates within a period of three months of commencement of the Act.
  • Developers have to disclose all details about the project on Regulator’s website including:
  • Details of the promoter such as registered address, type of enterprise.
  • Details of the project launched by the promoter whether completed or ongoing in the past five years including current cases, delay in projects, pending payments and details of land type.
  • Proposed facilities and location details are to be provided along with the sanctioned plan, layout plan, specifications of the project and plan of development works.
  • Project status has to be updated at every three month interval.
  • Developers have to deposit 70% of funds received from the buyers in a separate bank account and entitled to withdraw the amount to cover the cost of the project.
  • Developers are subjected to penalty for delay in projects.
  • Developer should sell the projects only based on carpet area where buyers can use. This implies the area covering external walls, service shafts, balcony and open terrace are excluded, but area covered by internal walls are included.

Impact of RERA

RERA has it impact on two key stakeholders i.e. builders and buyers. The act brings in more transparency between the builder and the customer, and ensuring the flow of institutional funds. Moreover, the home buyers are shielded from potentially unscrupulous activities of the builders.

With developers improving the delivery of quality product, contactors have to focus on quality of service, cost and time. The cost of capital for developers is bound to go up as the builders cannot sell the homes before the project approval is complete and that the 70% of the money from the buyers has to be deposited in an escrow account, hence debt is the only way of financing the projects.

New sectors are emerging as major drivers such as e-commerce, logistics and start-ups along with IT and ITES companies in the commercial real estate sector. Investments in infrastructure has also increased in cities such as Hyderabad and Pune with good demand in both MNC’s and start-ups.

RERA will help in boosting the buyers sentiment and the confidence and hence can actually lead to purchase of homes. Hence the act actually brings in regulation but not strangulation. This Act also improved the lending options from lenders and availing finance became easier with reducing litigations.

To sum up with, RERA is a growth oriented act to balance the key priorities of buyer’s interest, investors’ confidence, good governance and to build truest between two major real estate stakeholders: builders and buyers.

Road Ahead

As per CBRE (Commercial Real Estate Services) report Real Estate Sector in India is about to hit $100 billion investments by 2020 from witnessing a $7 billion investment in 2017. As a result of improved investor confidence and better policy reforms, India is one of the fastest growing G-20 economy in the world.

The supply under residential market has jumped by 70% in January – March period with biggest jump in Bangalore, Hyderabad, Pune and Kolkata. Housing sales have risen by 70% with the biggest sales in Hyderabad, Bangalore, Pune and Chennai.

World Development Report of UN states that India stands fourth in developing Asia for FDI inflows and real estate sector in India so far attracted $32 billion private equity.

The GST and Benami Property Act will also have major impact on the real estate business. With the Government moves like demonetization and digital economy, the unorganized and less organized segments of the real estate sector will have to move towards the organised segment or will have the suffer the natural death from the sector.

Indian Real Estate Sector is going to witness a healthy growth and demand in 2017 with credible, reputed and organized players. RERA is going to help builders reorient their methodology and helps real estate sector overcome hurdles it faces and contributes to growth of Indian economy.

paymatrix team

NASSCOM Product Conclave (NPC) conducted the fourth edition of #npchyd on 26th May 2017 at the HICC, Hyderabad. The event saw the participation from product start-ups including Paymatrix, small to mid-size companies, VCs/Angels, Leaders and Mentors. It was a blend of keynotes to share knowledge from experts, panel discussions to deliberate the concerns of the industry and workshops to build capacity of the emerging talent.

Team Paymatrix, exhibited their product to various dignitaries who had visited the stall, explaining how Paymatrix is helping the tenants, landlords and property managers in streamlining their rental payments and collections, and how facilitating credit for the rental deposits and rent has helped on time payments of the rents. Audiences were introduced to the new services such as the rental agreement, tenant screening, renter’s insurance, workspace and PG management. The ideas of how we started and how Paymatrix adds value to the tenants and the landlords in the post-discovery phase of the property rentals were much appreciated. More inquisitive questions were asked on the business model, go-to-market strategies, technology, current traction and the future growth trajectory by the NPC Judges.


paymatrix team

After much deliberations 5 startups were selected including Paymatrix amongst more than 30 participants for Product Pitch before the VCs/Angels and the Industry Leaders.

paymatrix pitch

Mukesh Chandra Anchuri, Founder and CMO and Anusha Kurupathi Parambil, Co-founder and CEO of Paymatrix represented the Team at the event. Product Pitch of Paymatrix was well received by the audience and the industry with the startup forming some key partnerships at the event.


When Mukesh Chandra Anchuri moved to Mumbai to work with Indian Oil, he had to find a place to rent. And like any one of us would have experienced while renting a place, Anchuri had to pay a huge sum, of around Rs. 3 lakh, as security deposit – something which was difficult to afford or even arrange within a few days. This made Anchuri wonder why one cannot leverage their credit card to pay the security deposit. There was no platform either where one could use their credit card to make rental payments.

He soon realized there was a bigger issue here. Most often, in a bid to evade taxes, landlords ask for payments to be made in cash – be it rent or the security deposit. And almost always, security deposits are a huge amount of money. With the idea of streamlining this process of rental transactions, Anchuri, along with his Indian Oil colleague Anusha Kurupathi Parambil and his classmate Muralidhar Naik from Birla Institute of Technology, Mesra founded Paymatrix in November 2015.

Before actually starting operations, the team researched on around 2800 people to understand the pain points. What came out of the research was that tenants faced an issue of lack of access to credit for big-ticket rental payments. And for landlords, the pain points faced was the lack of a platform to be able to streamline payments received from tenants. Also, most tenants and landlords wanted a proper trail of transactions made.

Taking all of this into account, Anchuri and his team built Paymatrix, a platform that lets tenants pay rent and security deposit with access to credit and lets landlords streamline payments.

How does Paymatrix work?

If you are a tenant, once you register on Paymatrix, you undergo an identity check through KYC (Know Your Customer) process and can start paying rent through Paymatrix electronically. And not just through netbanking and debit cards, tenants can also use their credit cards to make payments. In case the tenant does not have a credit card, Paymatrix offers short term personal loans with an interest rate of around 11-16%. For this, the company has partnered with 4-5 banks and a few NBFCs.

Once the payment is made on the platform, the amount is credited into their account by Paymatrix.

And if you are a landlord, Paymatrix offers a dashboard to manage payments from multiple tenants, set payment reminder alerts and automate payments.

This generates an electronic trail of all transactions made between the landlord and tenants.

Additionally, Paymatrix also offers services of screening tenants and making rental agreements. “We have templates of the agreement online where the landlord has to fill in the required details and that of tenants. They just have to pay the stamp duty online and we get the document franked, authenticated and deliver it to their doorstep,” Anchuri says.

And in states like Karnataka, the startup is working to leverage the e-payment of stamp duty.

Paymatrix Team
Paymatrix team: Co-founders Mukesh Chandra Anchuri, Anusha Kurupathi Parambil and Muralidhar Naik 
Every landlord on its platform can also screen potential tenants. Paymatrix offers a profiling service where a check is run on the tenant in terms of an identity, credit and psychometric analysis. “We charge as low as Rs. 150 per tenant and give a composite overview based on 182 parameters so the landlord knows who they are renting the house to,” co-founder Parambil says.

The company currently has around 4500 tenants and landlords on its platform and has its services in over 10 cities.

For every payment made on credit on Paymatrix, the company earns a convenience fee of 1.5-2.5%. It also earns through the rental agreement service and a subscription fee charged to landlords.

Paymatrix also has B2B model where it provides its services to commercial and co-working spaces. It manages rental payments for its incubator T-hub and manages rental collections for several other property management and real estate players in Hyderabad.

A big boost to Paymatrix has been the government’s move to dis-incentivize cash payments and the recent crackdown on fake rental receipts. Just earlier this month, an Income Tax Appellate Tribunal held that tax exemptions on house rent allowances cannot be given against fake rent receipts. According to a report on the Time of India, an assessing officer can now demand proof — such as leave and license agreement, letter to the housing co-operative society informing about the tenancy, electricity bill, water bill etc. — in allowing a lower taxable income as computed by a salaried employee.

“We are trying to bring all transactions that were once made by cash to an online platform thereby ensuring landlords are accountable for this income. We saw a considerable jump in our business after demonetization. More than tenants, landlords began taking to our platform as tenants were not able to make cash payments,” Naik, CTO says.

But Anchuri and his team recognizes the challenges that are still faced with landlords not wanting to disclose rental income. “Our target audience is very clear when it comes to landlords. We only target those in metro cities, those who hold multiple properties, are well-educated and can access the internet. They should be willing to optimize their tax liability,” Anchuri says.

In fact, Paymatrix also offers integrated tax filing services for rental income received by landlords.

Paymatrix has so far invested around Rs 50 lakhs into the business, which was bootstrapped. It also raised $40,000 funding and is now looking to raise an additional $300,000 for geographical expansion and to hasten up product development. It has also won awards like HYSEA 2017 for early stage consumer startups.

Road to scale

Going forward, Paymatrix wants to become a complete rental analytics player. Using the data points, it wants to be able to even create innovative financial products. For example, Paymatrix is working on a rental insurance scheme for landlords. This composite insurance protects landlords from potential default by a tenant or a mishap in the house. This also created opportunities for its partner banks and NBFCs.

Paymatrix is also looking at building a physical presence in the geographies it operates in, to be able to provide better services, especially to commercial clients.

Operating in a $4-billion market, Paymatrix sees an opportunity to introduce a lot more services. The 14-member team is currently seeing a 27% month-on-month growth and is recovering 70-80% of its operational costs. And with even government policies like the forthcoming Model Tenancy Act and the Benami Property Act working it its favour, Paymatrix hopes to break even within the next year.

Source :


Get in the Ring‘ (GITR) Competition is conducted by Netherlands based ‘Get in the Ring Foundation’ which was established in 2012 to reduce the failure of startups globally by connecting startups to hidden opportunities that are usually missed by entrepreneurs.

The third edition of ‘Get in the Ring‘ happened in Hyderabad which witnessed entrepreneurs battling with their competitors while investors and start-up leaders acted as jury members.A total of 24 start-ups participated in the day-long competition held on 6th April at T-HUB, Hyderabad of which six reached the semifinals for a face-off. The top six were Paymatrix, Authbase, Gayam Motor Works, SpotDraft, ATL, NicheAI.


Telangana Today - 07 April 2017 - page 12


For further information about the Paymatrix and GITR can be explored by visiting and

The author of the content is a technology and startup enthusiast. For feedback on the content, please write back to us at [email protected]



Hyderabad, the city of pearls is in news for various good reasons off-late. For the third year in the row, Hyderabad not only emerged as the best city in terms of living standards among Indian cities globally (Mercer’s Quality of Living rankings 2017) but also is on the way to a make a bigger news. Over the past few years, the city emerged to be one of the hottest innovation hubs, fueling startups through one of its kind initiatives. Driven by a government with progressive outlook and a thriving talent base, the city has set its eyes to be one of the world’s top 10 startup ecosystems in the world. While several stakeholders stand as drivers for this growth , there is one such player that stands out; T-Hub.

T-Hub , a unique public/private partnership between the government of Telangana and 3 of India’s premier academic institutes (IIIT-H, ISB & NALSAR) spearheads the innovation in the startup ecosystem in Hyderabad.The integrated incubator cum world class co-working space stands to be a nodal point attracting the best of the startups, mentors and investors.
One such startup that was nurtured out of this ecosystem to emerge as a one-of-its kind player is Paymatrix. The startup, that sprung out of a personal pain-point of the founding team comprising of graduates from IITs, IIMs, SPJain and BIT, Mesra ( Anusha Kurupathi Parambil,Mukesh chandra Anchuri, Muralidhar Nayak Guguloth). Paymatrix acts as an interface between tenants ,landlords and property managers and streamlines the rental payments and collections by facilitating credit from banks and NBFCs through smart analysis of payment behavior. This startup, often considered to be the first and largest in this Property rent management space, has a plethora of offerings including Renter’s insurance, Tenant Screening services and Digital Rent documentation , all of which makes the interaction between tenant and a landlord hassle-free and transparent.


While this startup , incubated by T-Hub and NASSCOM 10000 is considered one among the fastest growing in the ecosystem, it added another feather today at HYSEA Design Summit and Awards 2017.
Paymatrix is not only rated among the 10 hottest startups in the Hyderabad ecosystem but also was awarded as winner of the Early stage Consumer startup at the Summit held today at Cybercity Conventions, Hyderabad. The event, attended by the best of the corporate and startup ecosystems in India is has key themes for 2017 to be Imagining Technologies, Digital Economy at X-roads, Designing the future and Weaving innovation into the mainstream.
About HYSEA:
HYSEA ,considered among a key industry body, serves as a platform for its member IT majors and companies to interact with the government as well as compete in the global market. HYSEA also helps the government in formulating industry-friendly policies by providing incentives, concessions and support for foreign investors and entrepreneurs. Finally, it seeks to promote and encourage its member companies by instituting awards for various categories.
Further information about the Paymatrix and HYSEA can be explored by visiting and
The author of the content is a technology and startup enthusiast. For feedback on the content, please write back to us at [email protected]

If you happen to find yourself in Hyderabad heading to the HYSEA (Hyderabad Software Enterprises Association ) Design Summit and Awards 2017 on 23rd March (09:00 am – 08:00 pm) at Cybercity Conventions,Hyderabad, here are 5 reasons why you should stop and say hi to some of the Paymatrix team! 

Reason #1: Experience hassle-free rent collection by accepting rent payments with multitude of payment options

Reason#2 : Learn about our proprietary tenant screening algorithm and help you select the prospective tenants

Reason#3: Get a chance to avail exclusive offers and rewards of worth Rs.1000 * on your rental payments

Reason#4: Ask us how to automate your monthly rent payments through our recurring payment solution

Reason#5: Know more about our short term credit facility for your rental/security deposits

Meet our Awesome team and get to know more about our services at Paymatrix.

Click here to learn about the Annual HYSEA Product Awards and Showcase 2017.


Paymatrix is among the startups shortlisted for the finals of HYSEA summit & Awards 2016. As part of the same, Paymatrix is among the few startups provided with a pavilion at the convention to exhibit the product/service to the grand jury. The finals are to be held on 31st March at Hyderabad International Convention Centre, Novotel. The theme of HYSEA summit & Awards 2016 has been to showcase city’s promising startups and tag the trendsetters with product/service awards. The program is further designed to enrich the visitor experience with a series of design talks, industry key notes from dignitaries and design workshops. The summit is said to attract the who’s who of the industry with speakers from various realms of life. Some of them include Amitabh Kant (CEO, NITI Aayog), Manoj Sharma (CEO, Quikr), Natarajan Ranganathan (MD and CFO, Helion),BVR Mohan Reddy(Founder -CYIENT Ltd and Chairman-NASSCOM),Rajendra Singh pawar (Chairman and MD,NIIT technologies), Lalit Mangal (Co-founder, Common Floor), Sudharak Olwe (Photographer and Padmashree award winner) and the popular percussionist Drummer Siva Mani.

HYSEA (Hyderabad Software Enterprises Association) is a registered apex body formed to represent the software industry in Hyderabad. Formed in 1991, HYSEA engages in seeking solutions for the problems of software companies and works closely with government on policy formulation and implementation


Property rental management platform Paymatrix has been selected to the reputed NASSCOM 10000 startup program. Identifying the role, technology can play in the revolutionizing the property rent management space, the program identified Paymatrix to be a game changer influencing how rent is paid and collected in India. “10,000 Startups” is a NASSCOM’S initiative incorporated to incubate, fund and provide ambient support to hatchling startups and propel them into the league of full-fledged technology stalwart companies. The program supports the startups by giving them support via access to startup incubators, accelerators, angel investors, venture capitalists, mentors, and technology corporations. Startups selected to be a part of the program also receives an INR 10 lakhs startup kit, fully loaded, with enormously useful and tech-savvy business tools from Microsoft, AWS and Google.

NASSCOM (National Association of Software and Services Companies) is a trade body representing the Indian IT and BPO industries. With over 2000 member companies from the verticals of software development, services, process outsourcing and e-commerce the association plays a key role in the advancement of software technologies. It also works towards improvement of service quality and enforcement of Intellectual Property Rights in the Indian software and BPO industries.


Paymatrix, the Hyderabad-based property rent management platform has been inducted into the Lab-32 Incubation program of T-HUB. With this, Paymatrix now stands among the twelve carefully selected promising startups, identified by the incubator to be ready for the next wave of growth. As part of the incubation, T-HUB shall facilitate mentoring of these startups by industry leaders, offer them the much needed leverage in negotiations with service providers, provide them media exposure and enable access to funding by interactions with seed funds and venture capitalists. Lab-32 program envisions to act as a Launchpad for startups in advanced growth stage among the 180 startups operating at the T-Hub’s incubation centre at Hyderabad.

T-HUB is a unique public/private partnership between the government of Telangana, 3 of India’s premier academic institutes (IIIT-H, ISB & NALSAR) and key private sector leaders. It stands at the intersection of the startup, academic, corporate, research and government sectors. Designed for technology-related startups, and mission to catalyse the creation of one of the most vibrant entrepreneur communities in the world, the foundation operates a state-of-the-art 70,000 square foot building called CatalysT, the largest building in India to be entirely dedicated to entrepreneurship