“Location, location & sub-location”
As real estate market place / portal LeJagah.com is guiding property buyers to right place & service providers. It is live since 3-4 months and conceptualized for 1 year now.
More than 30-40 % people visit property sites for information before buying property which may increase to 60-70 % in coming 10 years. Nobody buys property without visiting it physically as any individual / family / biz house would like to see the place real time.
Our differentiation: With almost all the existing real estate sites the approach is ‘Property > Location’ wherein the user may like the property and may reject it once they visit the property because of location issues. In this approach secondary importance is given on location or sub-location / micro-market and he/she loses a lot of time shortlisting the properties. Also the end-users get incomplete information from this approach.
We believe location & sub-location are important parameters for any property and hence our approach is ‘Location > Property’ as against ‘Property > Location’.
According to the survey done the important parameters for buying property are physical infrastructure (roads, lane, flyover and others), social infrastructure (schools, markets, temples and others), transportation / connectivity (station, bus depot, taxi stand, auto stand & others) than the amenities provided in the premises (basic is acceptable). These amenities could be provided/done after acquiring the property but there is no alternative to sub-location facility.
With our approach we tackle both the aspects viz; location as well as property and hence the users are eligible to take informed decision and save lot of valuable time.
This approach also leads to genuine leads to brokers/agents or other service providers as preliminary ground work is done by the users with ample and relevant information.
The difference: Unlike other portals we are based right now in Mumbai covering entire Mumbai Metropolitan Region MMR (Mumbai, New Mumbai, Thane and others) in depth.
We are breaking up Mumbai (similar plan for other metros, tier I & tier II cities) in different localities and sub-localities with 20 core (total 80) parameters each relevant to acquiring property for buyers / rentees. The parameters are property rates, end-use / investing scoring, new projects, property agents/brokers details, landmarks/photos, healthcare centres, social & physical infrastructure to name the few.
Example in the following slide:
Screen shot of (search page) ‘Know Your Location’ of Andheri East with 7 sub-locations as .Station vicinity .Marol Maroshi .J B Nagar .Chakala .Mahakali Caves Road .MIDC & SEEPZ .Sakinaka & around
We have already covered 125+ sub-locations / micro-markets and intend to cover 400+ of MMR (Mumbai, New Mumbai, Thane & others).
Property listings by agents & builders would start by April/May.
For example we have done sample property listing at Andheri East, Station vicinity.
Other features: We are also enlisting service providers of real estate like agents/brokers, lawyers, stamp duty/registration agents, loan agents, architects, interior designers, vastu expert and others so the users find everything related to real estate under one roof.
The process of improving the professionalism with agents/brokers is going on with mobile application development for them.
Our competition: We are competing with giants like Magicbricks, 99 acres and others in real estate classifieds sector with lots of consolidation happening recently (Quickr buying commonfloor, Tiger Prop buying makaan & Snapdeal in the process of buying Housing).
Plans: There is a plan to scale-up to other metros, tier I & tier II cities.
Verticals: We are considering using the potential of micro-market information / data to start a vertical like being a consumer guide for particular locality.
We are looking for potential team mates preferably from the same sector.
You may view our website LeJagah.com and post your frank feedback / suggestion / advise.
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(Cell: 9322590790 / Email Id: firstname.lastname@example.org)