Are you looking for your dream accommodation? Gone are those days, when tenants needed to search for advertisements, pamphlets, and posters regarding their ideal accommodation. You might be wasting lot of money on contacting fraudulent real estate agents and disinterested owners. This problem is especially acute for students, migrants, who travel to different cities, especially metros for seeking employment opportunities.
Currently, in the market, there are plenty of real estate sites, to make your search very easy like 99acres.com, Makaan.com, CommonFloor.com, etc. But, among all these, Housing.com is the leading pack fetching the highest number of clicks and downloads. Now, let us examine the exceptional journey of Housing.com.
Housing.com commenced its journey by two graduates from IIT Bombay, namely, Rahul Yadav and Aditya Sharma. After graduating, both were facing great trouble to find suitable accommodation. They spent approximately thirty days looking for a house and, finally, got home close to the Powai campus. The founders became brokers, due to their extensive networks among their colleagues and started earning a perfect amount of one lakh per month. But, they wanted to expand their real-estate brokerage nationwide. Due to this necessity, the company Housing.com was born in June 2012.
Commendable Journey of Success
Once, the firm’s operations started, other founders left their jobs to join their full-time business. The company raised a series of funding in the successive years. The first one was 1.5 crores from Haresh Chawala, ex-CEO of Network 18, the second one was 50 lakhs from the co-founder of Chaupati Bazaar, Zishaan Hayath, in March 2013. Next, in the June 2013, the firm secured 3 million USD from the Nexus Venture Partners.
In June 2014, the firm has raised 19 million USD. The sum consists of 8 million USD from Helion, 7 million USD from Nexus, and 4 million USD from Qualcomm. Housing.com has created a Data Science Lab using the collected funds and expanded their business to the cities like Noida, Ghaziabad, Chennai, Faridabad, Hyderabad, and Chennai.
Housing.com follows an apparent revenue model in which they charge a subscription fee amounting five thousand rupees or eight thousand rupees, just as an annual subscription. This subscription is meant just for the agents or brokers to deliver finest services. Once the amount is paid, the agents can upload as many as inventories and listings, as they wish to do. The housing.com works on a condition that only house team of Housing.com will collect the data.
To provide top-class services, their in-house team will visit all the property sites listed on the portal and take photos of the house’s interior and exterior. They collect data points on the connectivity, facilities, location, and neighbourhood. This also consist of distances from the nearest landmarks like schools, hospitals, and airports.
The firm has 109035 verified postings, spread out across twenty-three Indian cities, and is controlled by a highly skilled staff of 800 employees. The company’s headquarters are in Mumbai, having 70+ employees. The site lists around 2000 homes daily, which is expected to increase to the range of 10000 to 12000 houses on daily basis. Housing.com is also an active recruiter at all the good campuses across the country, including the prestigious Indian Institutes of Technology. The average compensation range from 13L – 18L per annum.
Future Prospects of Housing.com
Housing.com’s expansion plan and strategy seems to be very aggressive. In June 2015, the company purchased a risk assessment service provider Realty Business Intelligence, for ten crores. Next, the firm also purchased HomeBuy 360 that connects buyers, agents, and developers for 2 million USD. In January 2016, the Japanese banking giant Softbank invested a massive amount of 100 crores in Housing.com to increase the strength of real estate.