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MYRE Capital, a startup that enables fractional investing in real estate projects, on Wednesday said it has raised Rs 50 crore through its offering of an integrated township in Pune, after receiving 100 percent commitment from investors.

The asset is expected to offer an average rental yield of 8.8 percent to investors, higher than returns offered by fixed deposits, and debt and corporate bonds currently, the startup said.

The project in Pune that has helped MYRE raise the amount is located in Hadapsar, and is called Magarpatta Cybercity, where mostly high net-worth individuals are landlords. The property has one of the lowest vacancy rates, and offers a targeted IRR (internal rate of return) of about 18.5 percent, the company said in a press statement

“Pune is one of the most important IT/ITes hubs in India, which makes Magarpatta a lucrative asset opportunity, considering stability in current market conditions and future growth prospects,” said Aryaman Vir, founder and CEO of MYRE Capital in a press release.

Fractional investing projects have seen a lot of takers in recent times with people looking for tech-enabled ways to diversify their investment portfolios. From sustainable projects to residential and commercial real estate, retail investors have poured in to purchase slices of assets that can give them good returns without too many overhead costs.

Fractional investing allows people to pool in the money they can invest to create a large enough corpus to invest in high-value projects.

“We have received investor interest from 14 different countries. The investor profile comprises lawyers, chartered accountants, doctors, pilots, captains, engineers, techies and people in various other fields. We aim to democratise real estate ownership, making it accessible to a wider range of investors,” Aryaman added.

MYRE Capital, Morphogenesis’ tech-enabled fractional ownership arm, expects to acquire similar assets for retail investing in cities such as Mumbai, Bengaluru, Hyderabad, Delhi-NCR and Pune, it said.