Zippserv, India’s first comprehensive Real-Estate Risk Assessment platform has launched a one-of-its-kind service – ‘PricePoint’. PricePoint helps consumers in Bengaluru freely access the latest registered sale transactions on over 1600 most sought-after apartment projects a google map based user-friendly interface.
This feature allows the consumer to effortlessly view properties in a 1 to 2 km radius with details such as super built up area, floor, number of car parks, terrace area, etc. and arrive at an idea of an accurate price for a property.
PricePoint is primarily for individuals looking to buy a new property and sellers of resale-properties. This product has an inbuilt analytics engine which considers various factors like guidance value, amenities, similar properties etc. to help eliminate outliers such as transactions with cash component and present the most meaningful data to consumers. Zippserv compiles data from various sources such as government registration offices, government websites, encumbrance certificates, prevailing guidance values, etc. to compile a database of recent property sale transactions.
“We have grown organically due to an overwhelming response from the customers. We areseed funded to the tune of Rs. 2.5 crore by Info-edge, who have also invested in Naukri, 99acres, Jeevansathi, Zomato, etc. We are excited to launch PricePoint and intend to enhance this engine over the next 6 to 9 months with machine learning capabilities and expand up to 3000 projects, including gated communities and plots.Â said Sudeep Anandapuram, co-founder and CEO of Zippserv.
“We at Zippserv wish to remove any asymmetry in information associated with property investment. When it comes to property transactions, both the buyer and seller alike have the same intrinsic problem of reaching a ‘correct price’ for a transaction. Sellers want to price it right, but unfortunately have no reliable source to provide this information as the information provided by brokers and property portals are not usually very reliable. On the other hand, buyers don’t want to overpay. PricePoint bridges this trust deficit and safeguards the buyer’s interest.The experience of PricePoint can be compared to that of a stock market where one can access the stock prices of the most recently traded stocks at any given time,” said co-founder and COO with Zippserv, Debashish Hota.
Today, property pricing information is very opaque and every property portal brings in pricing information either from a seller’s perspective or at a micro-market level. PricePoint is able to provide the consumers an actionable and granular level of pricing information at an apartment level, which is accurate and reliable.