IndiaProperty is close to raising $10 Million in subsequent Fund Raising
Indiaproperty.com, an online platform listing residential properties for buying & selling has come up with a subscription-based service called Assisted Property Search for end users. Currently launched in Chennai, Bangalore, Delhi, Pune and Hyderabad, the service has brought in around 2,000 paying customers to the site, according to Ganesh Vasudevan, CEO of IndiaProperty.com.
The company is close to raising $10 million in subsequent funding to expand the brand outreach. The CEO also added that a significant part of this fresh capital would be utilised for brand building. “In addition, we will be working on the core technology as well,” he said.
But what is so unique about the just launched B2C service? In addition to all regular features, the new service called Assisted Property Search assigns a property search manager (PSM) to each subscriber. These PSMs customize the search criteria according to users’ requirements and enlist all matching properties. They also look into all relevant details such as location, vicinity, security, etc.; make videos of the properties; and even check out vastu/feng shui features. The new service also provides assistance in case of legal issues. According to Vasudevan, the company is getting very good response from the NRIs, especially as it has dedicated features for them – so that they can share their customization requirements and discuss issues, if any.
“We don’t just provide a lot of options, but also help consumers find what they are looking for. You do a large part of the search is online but it is facilitated by offline groundwork,” added Vasudevan. According to him, the company provides a lot of information that is not available otherwise. The differentiation lies in providing that extra bit of information and helping users get on to the next stage after sifting through hundreds of properties, he said. “Plus, there are a lot of questions buyers want to ask and they can only get the answers when they make onsite visits or talk to the builders. And we provide that also,” detailed Vasudevan.
As for near-term expansion plans, IndiaProperty is looking at launching some differentiated product offerings. The newly launched Assisted Property Search will be taken to other regions of the country in the next 2-3 months while a new, enhanced version of the mobile site with augmented reality-based views of properties has also been launched.