A Memory To Cherish – Dinner With The Founders Of CommonFloor

It’s a friday evening, you are on the dinner table with few colleagues of yours. You chat about work, personal life, sports and anything and everything under the sun. Sounds familiar as any other dinner with your colleagues? And yes, it is! Except that the colleagues with you on the table are the founders of CommonFloor.

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At CommonFloor, every month a selected group of employees get a chance to ‘Dine with the Founders’. This is a part of the rewards and recognition initiative by the HR team showing the employees how much the company appreciates, respects and values them and their achievement. Sakshi Gopal, one of the selected employees for the dinner with the founders – “I was nervous initially as I sat on the dinner table. But it was amazing to see that the founders were more excited to chat with us and get to know more about us. For me, it was the selfie from Sumit that sealed all the nervousness

It’s a small investment of time that will pay high dividends over time and help build a foundation of trust and mutual understanding” says Shilpi, VP- Human8 Resources.

It’s an enriching evening of -

networking – the selected employees from across functions get to network with each other, more importantly with the founders,

insights – an opportunity to know from the founders themselves as to how it all started for them and the journey they took to reach where they are today,

inspirational stories – it is quite amazing to see how you can draw inspiration from each other’s life story.

The founders were super excited to be a part of the dinner table conversation and this is what they have to say about their experience.

“It’s about creating the space and environment where employees can easily converse with each other and share ideas. I consider this evening as a catalyst for an environment in office where employees can share ideas and get inspired from each other.” says Lalit Mangal.

Sumit Jain says “This dinner is like any other family dinner. The key to success of such dinners is to have a free style conversation and talk about whatever you feel like, whether it’s about work or personal life. Just the way you would have with your family.” 

“As the evening unfolded, I was immersed in the exchange of inspirational stories that every person on the table had.” says Vikas Malpani.

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As CommonFloor matures and grows, it is imperative that the founders spend time with their teams as they did when the company was in the infancy stage.

Introducing CommonFloor Insignia: Bouquet of Products for Real Estate Developers

In its pursuit to solve problems for home buyers and real estate developers we have recognized few key areas beyond marketing & sales where we as a technology partner could play a significant role.

Moving with this thought, we are happy to announce CommonFloor Insignia, a division of CommonFloor which will offer a bouquet of innovative products targeted to create stunning visualizations and sales efficiency for Real Estate Developers & Builders.

CommonFloor Insignia’s offerings will help developers to create a unique selling proposition in the market by providing better visual experience of their properties & projects which can enhance their visibility and positioning in the market. It will allow them to showcase their project in a unique manner adding the touch of future and technology into it. The products in the visualization category range from virtual reality tour to first person walk through of a project online (web & mobile). Some of products managed by CommonFloor Insignia are:

CommonFloor Retina (Virtual Reality on Mobile phone) 

1) 3D Project experience: Developers can enable their customers experience their newly launched or upcoming project sitting at their homes. 3D renders will create realistic experience of the exteriors and interiors of the project as envisioned by the developer.

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2) Take a tour of actual model flat: Developers would be able to showcase their real model flat using actual images of the model flat onsite. This can be used to showcase the model flat to any customer at anywhere without the need to go for the site visit.

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3) Locality Experience: Developers can showcase the actual skyview (Ariel photography) and give the customers an experience of the locality where the project is proposed.

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4) Hybrid View: This is first of its kind virtual reality experience where actual images are merged with 3D to give you an experience of future of that project.

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CommonFloor Celestial – First Person Walkthrough of project/flat( Desktop, Web & Occulus VR)

Experience the property like never before by having a control at what you want to look at where you want to go within the property and also experience it in Virtual Reality via Occulus Rift.

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CommonFloor Insignia also has products which would not only help visualizations but help with sales:

CommonFloor HomeSelect

3D Visualization of the project and its units on web along with an ability to select individual units, know the availability and book online by paying the token amount. The complete booking and visualization solution for a project

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CommonFloor mBrochure

Developers can have a mobile app brochure for their projects, which can help them reach out to their customers with anytime and always with an updated information on mobile.

We at CommonFloor Insignia have many more innovative and exciting products in pipeline, expect to hear more interesting updates from us in the times to come.

Sumit Jain shares with ET an interesting anecdote which turned out to be the tipping point of his career

This moment happened just six months after we had started CommonFloor Groups platform. We had a customer meeting at an apartment and as we walked past the play area of the apartment, we saw a big group of kids playing football and when I asked one of the kids if there was a tournament happening. He said: “Uncle, it’s usual for us as we contact kids around all the blocks through CommonFloor and all interested kids come here to play football.” I was ecstatic to hear it from a 10-year-old kid. That moment made us realise that we are going in the right direction and our business model holds a lot more potential.”

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A Ready Reckoner Of The Best Home Loan Rates Offered By Banks to Consider Right Now!

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Home buying is considered as one of the most stressful and taxing experience in one’s life as it involves an individual’s commitment for a really long time. However, it’s also considered one of the most accomplishing achievement in one’s life as it provides a state of satisfaction emotionally and makes an individual’s stature higher in the society.

If you are in the phase of searching a home, here’s a ready reckoner of home loan rates you could refer to that we have enlisted to help you get past this stressful phase of choosing and arranging the best home loan in the market to get you closer to that dream of owning your home.

1) SBI

State Bank of India has the largest presence in India with penetration to Tier 1, Tier 2 and the rural cities of the country. If you are a woman who wants to apply for a Home Loan, then SBI is a good option you could consider because of the lower interest rate the bank is offering to the women.

- Home Loan Interest Rate – 9.7% for Women and 9.75% for Others
- Present EMI per Lakh – Up to Rs. 860
- Processing Fee – 0.25 or Minimum Rs.1,000 up to 25 Lacs
- LTV : Loan to Value Ratio – 90% Up to 20 Lacs
- Home Loan Tenure – Up to 30 Years

2) LICHFL

Life Insurance Corporation Housing Finance Ltd. is one of the early players in the Indian market. The company provides long term finance to Construction of a home and home purchase related activities.

- Home Loan Interest Rate – 9.9% to 10% Interest
- Present EMI per Lakh – Up to Rs. 860
- Processing Fee – 0.5% of Home Loan Amount + Service Tax
- LTV : Loan to Value Ratio – 85% Up to 20 Lacs
- Home Loan Tenure – 5 Years to 30 Years

3) ICICI

ICICI bank is known for the wide range of products it offers in a particular segment. Even in the Home Loan segment, ICICI bank offers varied choices and schemes to loan seekers. If you are a person who wishes to explore more schemes, then ICICI bank would be a more suitable option for you.

- Home Loan Interest Rate – 9.85% to 10.15%
- Present EMI per Lakh – Rs. 955 minimum
- Processing Fee – 0.5% of Home Loan Amount or Rs 10,000 (Max)
- LTV : Loan to Value Ratio – NA
- Home Loan Tenure – 1 Year to 30 Years

4) HDFC

HDFC is increasing its market size by the day. With its varied advantages like Home Loan approval prior to property selection, interest subsidy, add on loans on a single property and the like, HDFC is attracting most of the home loan seekers to its bucket.

- Home Loan Interest Rate – 9.85% to 9.95% Interest
- Present EMI per Lakh – Rs. 867 Minimum
- Processing Fee – 0.5% of Home Loan Amount + Service Tax
- LTV : Loan to Value Ratio – 80% Up to 75 Lacs
- Home Loan Tenure – Up to 30 Years

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5) UBI

Union Bank of India is largely owned by the Government of India. UBI has won many awards for best payment initiatives it has implemented. When it comes to Home Loans, UBI, like many other banks offers both Floating as well as Fixed interest plans. However, majority of the population prefer floating interest over fixed interest plan.

- Home Loan Interest Rate – 10% to 10.75%
- Present EMI per Lakh – Up to Rs. 965
- Processing Fee – 0 .5% of Home Loan Amount subject to max amount of Rs. 15, 000 + Service Tax
- LTV : Loan to Value Ratio – 80% Up to 75 Lacs
- Home Loan Tenure – Up to 30 Years

6) AXIS Bank

Axis bank is expanding its penetration through effective banking services. Axis bank is known for the doorstep service and services like longer tenure with smaller EMIs.

- Home Loan Interest Rate - 9.95% to 12.05% (Salaried) & 10.2% to 12.05% (Self Employed)
- Present EMI per Lakh – Rs. 955 to Rs. 1139
- Processing Fee – 0.5% of Home Loan Amount subject to min Rs. 10,000
- LTV : Loan to Value Ratio – 85% Up to 20 Lacs
- Home Loan Tenure – 1 Year to 30 Years

7) PNBHF

Punjab National Bank is one of the largest Nationalised Banks. PNB also offers loans in both fixed and floating interest methods. PNB offers loan for construction, repairs, and for land purchase.

- Home Loan Interest Rate – 10% for Floating & 10.5% for Fixed
- Present EMI per Lakh – Up to Rs. 961 (Floating) Rs. 998 (Fixed)
- Processing Fee – 0.5% of Home Loan Amount, Max Rs. 20,000
- LTV : Loan to Value Ratio – 80% Up to 75 Lacs
- Home Loan Tenure – Up to 30 Years

8) CANARA BANK

Today, Canara Bank takes a special position in the minds of people for its credibility and CSR activities. Canara Bank Housing Loan is believed to be one of the best for taking over co-operative banks, Housing Boards and the like at their prevailing lower rate of interest.

- Home Loan Interest Rate – 10% to 10.10%
- Present EMI per Lakh – Up to Rs. 965
- Processing Fee – 0.5% of Home Loan Amount, Min 1,500 & Max 10, 000
- LTV : Loan to Value Ratio – 90% Up to 20 Lacs
- Home Loan Tenure – Up to 30 Years

With the varied choices available in the market today and banks trying to woo consumers into providing the best home loan rates, the dream of owning your own home doesn’t seem distant anymore.

bank loan ratesGet the Free Downloadable file here

Sumit Jain listed on LinkedIn Power Profiles 2015 under the Most Influential Internet Professionals In India

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On the eve of India’s 69th Independence Day, LinkedIn, the professional networking website, unveiled the Power Profiles in India for the year of 2015. The list highlights the most-viewed professionals across different industries including: Internet, Technology, Finance, Human Resources, Telecommunications and Marketing & Advertising.

As per LinkedIn, there were three factors that inspired them to come up with this list: visionary leadership, innovation and a spirit of entrepreneurship. Sumit Jain, Co-Founder & CEO, CommonFloor.com, was featured in the list of the most influential internet professionals, rubbing his shoulders with the who’s who in the internet industry in India.

Besides garnering the highest profile views on LinkedIn, what’s common among all these members is the investment in the right skills and qualities. This makes them exemplary professionals, who can inspire 31 million+ members across India.

See the complete list here

8 Places Across MMR That You Should Definitely Consider If You Are Looking For A House Within 60 Lakh!

Mumbai, popularly known as the city of dreams and famous for its high standard of living, the glamorous Bollywood film industry and the like is the most sought after city for property purchase. With the skyrocketing prices in Mumbai, finding a 2BHK could be a herculean task for a seeker. Since most of the users look for properties in the affordable bracket of Rs.60 Lakh, we hereby suggest a few localities around the Mumbai Metropolitan Region where property rates are still within the reach of a common man.  Here’s the list of locations in Mumbai that offer homes at affordable prices;

1) Airoli Airoli_bridge_from_the_air,_Maharashtra,_IndiaA well-developed residential and commercial node of Navi Mumbai, which has two main residential areas, namely Airoli village and Diva Village. The area has properties ranging from 25 Lakhs to 1.5 Crores.

2) Panvel

Panvel_Station_BoardOne of the main locations that was planned to provide affordable housing to property seekers. The purpose behind the formation of Navi Mumbai itself was to provide affordable housing to people. However, Panvel retains the spirit of its formation by offering properties in an affordable range that starts from 20 Lakhs and goes up to 1 Crore.

3) Dahisar East

Dahisar_Railway_station_platformboardA suburb in the city of Mumbai which is renowned for the landmarks like Ashokvan, and Bhakti complex – which is a famous hangout zone for youth. The property rates here range from 36 lakhs to 1.7 Crores

4) Dombivli East

Dombivli_railway_station_-_PlatformboardA location that is known for high literacy rate and commercial development. People looking for an urban life style in a suburban location should consider Dombivli as the first option.

5) Mira Road

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One of the fastest growing suburbs of Mumbai. This location is a combination of both development and affordability in the real estate sector. If you are looking to buy an affordable property in Mumbai, then Mira Road is the location, as a huge list of properties that cost less than 60 Lakhs are available in this location.

6) Ulwe

Ulwe - Navi MumbaiYet another hot node of Navi Mumbai. This location attracts both investors and also home buyers with its wide range of affordable residential projects and surrounding locations like Kamothe. Ulwe is expected to be a successful planned location after Vashi.

7) Kamothe

TH11_NAVI_MUMBAI_1943299fLies in the Raigad district and fondly known as Mansarovar. The location is divided into 48 sectors which are systematically planned. Kamothe is very well connected to major parts of Mumbai.

8) Taloja

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A location with good road and railway connectivity to major locations of Navi Mumbai. Taloja is a looming location attracting a lot of local developers in the residential market paving way for the development of neighbourhood. You can look for good properties below 50 Lakhs in this location.

CommonFloor Introduces Locality Virtual Tours

Today, finding one’s dream property is largely dependent on the vicinity of the property. A home’s location not just determines the future value of investment, but also many aspects of a buyer’s everyday life. A seeker’s dream property needs to be perfect in terms of the comfort factor and proximity to all important amenities including: civic infrastructure, health care, shopping and entertainment, education facility, safety aspects, dining options etc. Keeping precisely these parameters of property selection in mind and working on the vision of enabling property selection in half day, CommonFloor.com, India’s leading online real estate platform has introduced a first-of-its-kind innovative feature called the ‘Locality Virtual Tour. This remarkably innovative feature offers a virtual walk through of a neighborhood of any locality selected by user.

Property buyer can get 360 degree view or a street view of the location mapped on Google maps (along with geo-code) this eliminates the need to visit the location in person which provides buyers a comprehensive perspective of the locality.

Commenting on the launch of this new feature, Sumit Jain, Co-Founder & CEO, CommonFloor, said, “After the successful launch of Live-in Tours feature, Locality Virtual Tour is yet another add-on to simplify the property search process and empower the customer’s with better information about the locality. By using both these feature, property buyers can save 90% of time by not visiting the wrong places. Currently, we have mapped 100 localities in Bangalore, Delhi and Mumbai on this feature and we intend to list out 500 localities across 10 cities in the next six months.”

About the feature – Locality Virtual Tour

  • Helps buyers in getting complete perspective of the location and shortlist properties quickly.
  • Reduces 90% time and efforts of property seekers looking for their ideal home.
  • Locality Virtual Tour can be accessed on the Personal Computer’s web, and will soon be available on mobile web and mobile app.

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Lalit Mangal, Co-Founder and CPO, CommonFloor.com said, “We live in a world where getting a 360 degree view of the house is just not enough. When property projects are marketed, very few share details pertaining to the immediate vicinity. Brochures tend to not mention closeness of a project to places like graveyards or garbage dumps. This is where Locality Virtual Tour comes-in and provides eager property seekers with a panoramic street view of the area, helping them understand the nuances of the location before they purchase/ rent/ resale a new property or a plot.”

Live-in Tour and Locality Virtual Tours are the apt tools for CommonFloor to fulfill their ambition to reach every home and to map every home and locality, in the country. It works as an ultimate filter for property seekers, helping them visualize living in their dream home and in their preferred neighborhood. This will drastically aid them to shortlist prospective properties and eliminate the need of physically visiting the properties. The offering is live on CommonFloor.com and is absolutely free for the end-users.