BENGALURU: One of the biggest concerns while buying property is the ever-changing prices. With the aim to make this information available instantly, an app called Price Point has been launched by a Bengaluru-based company.
The app claims to give “real time registrations and the amounts involved” in around 1,600 prime residential properties. “Most of these apartments are spread across the city, covering the entire span of Bengaluru, undertaken by tier-I, 2 and 3 developers. Our database is based on actual registrations, and it reflects the most popular projects and areas where people purchase properties,” says Sudeep Anandapuram, ZipServ, which developed the app. These include prime properties in special economic zones around Marathahalli, Bellandur, Whitefield and Electronic City. Some of the other areas that have seen a lot of traction in terms of registration are Ahad Euphoria, Brigade Meadows and SNN Raj Serenity, he adds.
Data for the app has been compiled from government registration offices, government websites, encumbrance certificates, prevailing guidance values, sale agreements, sales deeds according to Sudeep. “Data related to transactions, while being available in government office records, sometimes needs to be cross-referenced with some of these documents. What we must also keep in mind is that due to outliers in transactions (such as cash component in transactions, under valuation, etc.), the registration price alone may not always give the real picture,” he adds.
Further, he says that since his company has already verified over 1,000 projects in Bengaluru alone, they can correlate this government data from that of their own database.Besides mobiles, information from the app can also be accessed through a laptop, desktop or tablet. Users need to enter the locality or the exact apartment that they wish to know the price of. They even can view properties in a 1 to 2 km radius details such as super built up area, floor, number of car parks, terrace area, claims Sudeep. They can then see the actual number of transactions that have happened in that project, the rates (per sq. ft.) at which the transactions have happened, the area (in sq.ft.) of the apartment, and more.