Home-buying apps are revolutionizing property purchase experiences, especially considering the fact that homes are once-in-a-lifetime purchases. There are many such offerings that have emerged as viable choices for customers today. IndexTap is an app that began by informing people about the prices of apartments sold in Pune and the MMR. Later on, this January, it received licensing for approaching sellers with the platform. The app also informs people about the selling prices of their neighbors’ homes and recent selling prices of apartments in the buildings that they are interested in.
This is among several such apps which are bringing more transparency into the sector. These apps are tasting success due to several Government initiatives such as RERA and others. PropVR is one of the most pioneering home-buying apps in the country. PropVR builds simulations using similar technologies as used in top games like Call of Duty and Map Quest.
PropVR helps buyers take virtual tours of homes that they are interested in. It is based in Bangalore and Square Yards acquired it early in 2021. The Co-Founder at PropVR, Srinath Kandala, states that those interested in purchasing homes in Abu Dhabi or Dubai now get links shared by individual UAE developers for streaming the apartment in the Metaverse. The same concept is deployed by PropVR.
He also states that it has worked with some Indian developers who use it for their Indian projects. The goal is now to make it a search-and-find choice for customers on the app, just like a listing. Billions of people will get to experience the projects of developers choosing the Metaverse, directly on their phones, according to Srinath.
HomeXchange is another app that arrived in 2021, and is based in Andheri. It helps people sell old homes and buy newer ones. There are instantly guaranteed prices for old homes and links sellers to potential buyers. Even though these apps are gaining traction, many experts feel that real estate agents will still play vital roles in the industry. They feel that agents will know more on the project drawbacks, developer history, and possible compromises of buyers.
Some agents feel that these insights are unavailable on apps, while some homework is required for buyers, even when the apps solve most of their issues. However, it is clear that these apps are contributing towards a more efficient and transparent property market for customers in India.
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Published Date: May 14, 2023
