Tanuj Shori, Founder & CEO, Square Yards said, “We have brought the Gold Standard of transparency in Indian Real Estate
MUMBAI, Jan 31 (The CONNECT) - Integrated real estate platform Square Yards today launched an industry-first, comprehensive data Intelligence capabilities on its portal. Now, users can check the last transacted property prices in any project or locality in top 10 cities of India as per the actual Government Registration Records. Square Yards has made this data available for 1.4 lacs buildings/projects covering 8.6mn transactions in top 10 cities of India.
Tanuj Shori, Founder & CEO, Square Yards said, “We have brought the Gold Standard of transparency in Indian Real Estate. For decades, real estate consumers in India have suffered from lack of standardized pricing mechanism and had to argue and negotiate about prices in the dark, based on what market movers told them. By making these records public, we aim to remove the information asymmetry and build the most comprehensive “Housing Dictionary” for the Indian real estate ecosystem.”
With this initiative, buyers, sellers, tenants and landlords will have unbridled access to standardized and reliable real estate data that was previously unavailable. Homebuyers can see the past transactions of a building or locality of their interest before negotiating with a broker, renters can get the accurate value of recent lease deeds of the building or society they are planning to rent. Property owners on the other hand, can see their building’s sale and lease transaction history to get a realistic valuation of their property.
Square Yards is investing heavily in Its data intelligence platform that has 8.6Mn+ data points on 15+ unique denominators to analyze transaction data (sale/lease), mortgage, govt value, land ownership, land information, zoning, reservation, road-width, building permissions and RERA details – on a GIS-enabled interface to support pre & post transaction diligence. The platform has extensive mapped data metrics of Mumbai, Pune, Bangalore Gurgaon, Noida, Hyderabad, Thane and Navi Mumbai. The company is also piloting India’s first Digital Title Search and Property e-Valuation platforms with some of the leading banks in India.