INDIAPROPERTY.COM LAUNCHES INDIA’S FIRST COMPREHENSIVE TRANSACTION ANALYTICS TOOL & A PAPERLESS HOME LOAN PROCESS
Bangalore: IndiaProperty.com enhances its “Assisted Buying” service by launching two new features – Advanced Transaction Analytics & Online home loan platform which is seamlessly integrated with property search and diligence. IndiaProperty’s ‘Transaction Analytics’ lets users research the market making price of residential properties at a street level in any micro market. It is India’s first comprehensive analysis and visualisation tool which uses over 4 million+ property transactions to provide useful insights on projects and real estate trends at not only micro market level but also specific property level.
Currently analytics data is available for Chennai and Hyderabad and will soon be extended to other Southern cities in India. Buyers and sellers can use this information to get a good sense of price at which a property should be bought or sold and negotiate the deal from a position of strength given the knowledge of market making prices in the street / building / locality.
Features of Transaction Analytics Tool
- The tool compiles property registration data for primary and secondary transactions over the last 15 years from SROs and presents it via an interactive user interface at street level, micro market level and city level
- The data is refreshed monthly and the algorithm identifies outlier transactions (involving significant amount of cash) and removes them to present an accurate picture of selling prices
- If a buyer is interested in a particular project, he can get details about the project like – Actual price movement of homes in a project since its launch, also compare it to the average selling price of similar properties in the locality, details about recent sales in the project, ownership history, details of banks which have provided loans in a particular project, details about sales in other nearby projects in the locality
- The tool allows research for resale properties as well
Other new feature is the home loan assistance. Buyers can avail home loan on the platform using adhaar based eKYC, credit score and financial verification process. This, fully online service is integrated with Banks’ lending platforms, so as to get an online home loan sanction quickly. The platform matches the buyer based on his loan profile with the right lender so as to maximise the chance of loan approval. The buyer can choose from multiple Banks/NBFCs that lend to his profile and seamlessly move forward to property discovery armed with a loan sanction. The platform’s recommendation engine then showcases properties which match the borrower’s loan eligibility, reducing the time taken to fund the property purchase.
Indiaproperty has integrated its platform with leading lenders like PNB Housing Finance, IDFC Bank, ICICI Bank, YES Bank, IndiaBulls Housing Finance, Aditya Birla Home Finance, Cholamandalam Home Loans and is in the process of integrating with 20 other lending institutions as well. The lending institution gets not only the buyers loan profile, but also the property’s parent title documents and comparative valuations digitally from the platform, significantly reducing the decision making time for an in-principle loan approval.
Commenting about the new features, Ganesh Vasudevan, CEO IndiaProperty.com, said, “Transaction analytics and paperless home loans are a huge step forward for bringing in technology into online real estate marketing. We now have a fully online ecosystem that seamlessly supports all stages of a property buyer’s journey starting from property discovery to diligence and transaction. Buyers now have access to analytics which was never seen before in the Indian context – significantly reducing the information opacity that plagues the realty industry. Our assisted buying offering now offers the complete digital ecosystem required for anything to do with buying a residential property- be it new constructions, used property or land.”
India Property Online Pvt. Ltd. is the country’s leading portal in the online real estate space. IndiaProperty.com offers one-stop property marketing solutions serving builders, real estate agents and home owners, to sell or rent their properties, while offering a feature rich interface for property buyers to search and identify properties that match their requirement. India Property has pioneered several innovations such as Assisted Property – India’s first online assisted buying service, Gruhapravesh – India’s first series of virtual and offline property shows, 3D Virtual Tour and India’s first augmented reality based Real Estate Mobile Application amongst others. The portal has over 5 million registered users with over 7, 00,000 property listings and 8,000+ builders and agents using the platform to market properties.