Exclusive on Bloomberg TV based on CommonFloor Survey Report on Buy Vs Rent!

A recent survey conducted by CommonFloor.com, ‘Buy Vs Rent: What India Thinks’ addressed one of the most confusing questions, that an average Indian realty buyer encounters, of whether should they rent a house or buy it?

The survey is an in-depth and real time analysis of sentiments persisting in the market. The survey enables one to understand the expectations of property buyers from consumer demand perspective.Bloomberg TV did an exclusive piece based on this survey report. Our co-founder, Vikas Malpani was featured in the story, as he shared some interesting insights about the report.

Watch the complete video below to know more

For more updates subscribe to our channel here

 

Sumit Jain featured in the show ‘Lunch Money; on Bloomberg TV

Sumit Jain featured in the show ‘Lunch Money; on Bloomberg TV, as part of the’ Deal Street’ segment which discussed about the competition heating up in the online realty market and what is CommonFloor.com‘s view point on the same and way forward. Watch Sumit responding to questions on rumors of acquisition, CF virtual tour feature, strategy to increase customer base, cash burn so far, funding plan and a lot more.

Watch the video below for more.

For more videos subscribe to our channel here

5 Top Places in Delhi You Can Consider Renting A House For Rs.10000!

The National Capital Territory of Delhi is one of the biggest residential rental markets of the country. Increased migration has increased the demand for rental housing in the national capital. Though the overall market sentiment still remains wobbly, the rental market of Delhi has been largely stable over the last few years. However, rental prices are increasing, making it difficult for low and mid income families, bachelors and students to take up rental units in the prime localities of the city.

Rental-affordability-in-Delhi_P1

The amount of rental space available for the monthly rent of Rs. 10,000 is quite contrasting for different localities in Delhi. As per CommonFloor data (Q1 2015), Najafgarh is one of the most affordable neighborhoods of Delhi where one can get a 3BHK sized approx.1,420 sq. ft. for a monthly rent of Rs. 10,000. Thus, it is an ideal neighborhood for mid income families and bachelors on a sharing basis.

Rohini Sector 23 is next where one can get up to 870 sq. ft. of space which is best suited for working couples and bachelors. The Trans Yamuna neighborhood of Mayur Vihar is the next spot where one can get up to 520 sq. ft. of space on rent.

Meanwhile, the South Delhi localities of Defence Colony and Dhaula Kuan are two of the most expensive neighborhoods in the city. However, the amount of space available for rent in these two localities are 250 sq. ft. and 150 sq. ft. respectively which makes these areas suitable for PG accommodations for working professionals.

Find your home here

Sumit Jain says “We are not in race for PropEquity, no merger plans with Quikr”

CommonFloor.com denied that it was seeking to acquire data and analytics platform PropEquity or that it had any merger plans with classifieds company Quikr.

“We are not in active talks with any company for acquisition. We also do not have any plans of merger with Quikr,” Sumit Jain, co-founder and chief executive officer of CommonFloor.com told ETRealty.com

There were reports over the last few weeks on CommonFloor.com making a Rs 40 crore offer for PropEquity and that it was in talks with Quikr that could eventually lead to a merger.

There were also news reports about CommonFloor being in preliminary talks to acquire property portal IndiaProperty, which Indiaproperty has already termed as “baseless rumours with no truth in them.”

“As a company we talk about something when we do something. We don’t believe in rumours” Jain clarified.

Launched in 2007 by Sumit Jain, Lalit Mangal and Vikas Malpani, CommonFloor.com combines property search, apartment management and vendor management.

The company has so far raised around $50 million in three funding rounds from Tiger Global Management and Accel Partners. In September 2014, it had raised $30 million from Tiger Global Management.

The latest funding for the Bengaluru-based company came from Google Capital, which invested $10-$12 million (Rs 63-75 crore) in January.

Read the complete article here

CommonFloor focuses on making brokers, developers accountable

Default on promises and your rating on CommonFloor.com will do down. This has been the approach of the property listing portal, which internally sorts properties in the platform with the help of 130 data points or ranking criteria, in turn setting accountability for property brokers and developers.

“We aim to become an unbiased platform,” says Sumit Jain, co-founder and chief executive officer of CommonFloor.com. “If somebody is not performing or is defaulting on the promises, their reputation and in turn their priority in the search listing will go down.”

The company has aggressive plans for the next one yearit aims to extend its services to 350 cities from 200 at present.

“We will be present in 350 cities (with over 1 lakh population each) by May 2016,” Jain said.

CommonFloor is also investing heavily on its product and plans to bring one innovation every quarter. It launched the virtual tour feature for resale and rental properties named Live-In Tours last month, which aims to provide home seekers a 360-degree view, and has about 4,000 properties listed under it till now.

“We plan to list 5 lakh rental and resale properties under the virtual tour feature in the next six months,” says Jain.

Last year, the company had launched the Retina feature for virtual tour of residential apartments and has about 1,000 projects listed under it. “We also plan to increase number of projects with Retina experience to 5,000 in the next one year,” Jain said.

CommonFloor has so far raised around $50 million in three funding rounds from Tiger Global Management and Accel Partners. In September 2014, CommonFloor had raised $30 million from Tiger Global Management. The latest funding for the Bengaluru-based company came from Google Capital, which invested $10-$12 million (Rs 63-75 crore) in January. It has about 10 million homes in 200 cities listed at present. It also is looking to turn profitable in the next 2 years.

“We are well capitalised, and have over half of the money raised till now in the bank,” Jain said.

Read the original article here

CommonFloor Encourages Its Employees To Keep Healthy!

In today’s fast paced business world, the long working hours coupled by our modern sedentary lifestyle leaves us very little time for anything, right? CommonFloor aims at promoting a healthy lifestyle among its employees and introduces a plethora of health initiatives for a healthy working environment. The connection between health and job performance is widely known. CommonFloor offers comprehensive healthcare benefits, insurance for self and family, flexi time to eligible employees.

4

CFitness, a wellness initiative is aimed at promoting health awareness and the benefits of healthy lifestyle among employees. “The attitude and energy that an employee brings to work is our utmost priority. At the same time, energy can be vulnerable to fatigue and burnout. By offering diverse fitness initiatives and programs we aim to encourage employees to adopt healthy lifestyle habits.” says Shilpi, Vice President, Human Resources.

Regular health check-ups are conducted in the office premises for the convenience of the employees. Workshops like ‘Yoga at your desk’ aims to educate employees in a positive, fun and interactive way about the healthy and unhealthy boundaries.

challenge

We thought what better way to enlighten employees on benefits of healthy lifestyles than making them compete with their fellow colleagues? So we started the CFitness challenge which saw employees competing with each other on activities like ‘Push Ups’, ‘Skipping’, ‘Drinking Bitter gourd juice’ etc. keeping the competitive spirit alive. “I never liked to exercise and couldn’t see how to incorporate it into my daily schedule, but it was the competitive element that really made the difference”, says an employee who is now actively following a fitness regime.

3 (1)

Since we are a technology company, we thought it does make sense to take technology that people were already adopted to and migrate that to a health platform that includes social media and social gaming. We used gamification of health activities and the power of being social connected on a mobile health app which was a twelve week long activity. This social media fueled challenge in coordination with Feet Apart allows employees to compete on various health activities as individuals and teams, post comments, set personal fitness goals and encourage the fellow colleague to join the crowd which was a super hit among all.

cfitness-feetapart-banner

Mobile health apps like ‘Moves’ and ‘RunKeeper’ connect the employees’ activities to the online platform on a real time basis. The ‘leader board’ springs the additional fun and push to the otherwise conventional health practices. In the months to come, CFitness will incorporate more healthy living initiatives thus benefiting both employers and employees.

More challenges, more fun and a fitter workforce makes CommonFloor one of the most sought after companies to work for today!

CommonFloor is looking for the Photographer in You! Are you game?

Camera-(1200x628)

CommonFloor is on a mission to digitize India – from popular metropolitan cities to lesser known ones, from wide roads to narrow alleys, from apartment projects spread across hundreds of acres to independent houses. (We can go on and on!) A house is incomplete without a good locality and every locality has a story to tell. Through this locality project, we hope to capture these visual stories through your lens and share with our users.

Why are we doing this?

You see, property search is a very personal thing. Every person has unique preferences based on budget, ROI expectations, commute, child friendliness, old-age friendliness, surroundings etc. Today, the home seekers, be it buy or rent, have to painstakingly travel amidst all the traffic chaos to the property only to realize that they don’t like the locality or the immediate neighbourhood. Now that’s disappointing!

We then thought what if you are able to visualize every locality with a few clicks on your laptop or few taps on your smartphone? Lifestyle, Nightlife, local markets, residential areas, visible infrastructure issues, Greenery – you can see it all and would make the seekers life super easy. Awesome, isn’t it?

So he we are calling all you photography enthusiasts to join us in this unprecedented journey to make every locality digital. As a Commonfloor Freelance Photographer, you will be travelling to different localities in your city and capturing the essence of life in those localities through your lens.  Based on your convenience, you can choose how many localities to shoot and when to shoo while you earn a typical stipend between Rs.4000-5000/-for each locality photo shoot. Sweet right!

If you are reading this, we are assuming you are already interested. So these are the next steps:

1) Visit http://crowdsourcing.commonfloor.com/ right away and click on the apply button.

2) Share your work with us & wait to hear back from us (we won’t take long, we promise!), to be shortlisted as one of the CF Freelance Photographers.

3) If you hear back from us, select the locality to shoot and head to your locality to capture the best visuals that you can share with us while you get paid for your work.

4) Get clicking for as many localities as you wish and continue getting paid while you contribute to us. How easy was that!

As a true photographer would say – “Never. Stop. Exploring.”

We are waiting for you!

“We will definitely turn profitable in the next two years,” says Sumit Jain in an exclusive with Business Standard

Commonfloor is the latest to join the list of new-age companies showing loyalty to profitability, till recently not counted as a priority in the fast-growing e-commerce universe. “We will definitely turn profitable in the next two years,” Sumit Jain, chief executive officer and co-founder of Bengaluru-based Commonfloor.com, told Business Standard. This comes eight years after it was launched in 2007.

About 200,000 properties are listed on the site every month, out of which 50 per cent are sold out or rented out, he said. Currently, the service is available in 200 cities, and is likely to be expanded to 350 cities in the next one year. The size of online transactions mediated through real estate portals is expected to reach a sizeable number soon. Currently, only a miniscule portion of overall sales in the real estate segment takes place through the online medium.

However, the sector is divided over whether online would be a big part of transactions in the real estate space. Real estate consultancy firm JLL managing director, south, Juggy Marwaha, said, “Real estate is a look-and-feel product. It will be very difficult for sales to pick up through the online medium.” In January, commonfloor.com raised an undisclosed amount of funding from Google Capital, the internet giant’s late-stage growth equity fund.

Though Jain did not disclose the amount of funding, according to people in know, it was around $10-12 million. The funds raised by Google Capital will be used for bringing out more innovations. “We will launch a new innovation every quarter going forward,” Jain said. The portal recently started virtual tours for resale and rental properties, which will allow users to take a 360-degree view of the site eliminating the need to visit the property in the initial phase. “Photographs are a thing of the past now,” he said.

Earlier, in February, it had come with a new technology called Retina, which allowed people to see their under construction property virtually through a device. CF Retina, a combination of the app and the headgear (priced at Rs 999), helps a potential buyer get a near-real experience of a housing project that one is looking to buy or rent out. This is mainly for under construction projects.

Founded by Sumit Jain, Lalit Mangal and Vikas Malpani, CommonFloor has so far raised around $50 million in three funding rounds from Tiger Global Management and Accel Partners.

In September 2014, the company had raised $30 million from Tiger Global Management.

DRIVING THE IDEA OF PROPERTY HOME WITH TECH

  • Interested people can take virtual tours of the portal for resale and rental properties, allowing to take a 360-degree view of the site eliminating the need to visit the property in initial phase
  • In Feb, it had come out with a new tech called Retina, which allowed people to see their under construction property virtually through a device

Read the complete article here

CommonFloor Co-founder & CEO Sumit Jain’s journey from managing his father’s shop to running a leading real estate portal

His business education started when he was 8 years old. CommonFloor Co-Founder & CEO, Sumit Jain’s inspiring journey from managing his father’s shop at a very young age to running a leading real estate portal.

CommonFloor.team-1

If you drive from Delhi to Dehradun, there are chances you’ll ignore a small town called Khatauli in the state of Uttar Pradesh, India. Our story begins with a dweller from this small town, who had little expectation from life, though he never lacked focus, perseverance and determination.

He used to study, play and work at his father’s shop on the highway. The eight-year-old boy took care of the shop and soon mastered accounts, orders and cash transactions.

“I was never clear about what to do in life and always looked up to my elder brother. I thought that I was not as intelligent as him. My brother did his engineering in Roorkee; at that time there was nobody from my town who went to the IITs,” says the proud little brother.

Meet the uncommon Sumit Jain, Co-founder and CEO of Google Capital-backed CommonFloor, one of the leading online real estate platforms in India. From searching for an apartment, to facilitating interactions within an apartment community, to connecting one to relevant service providers — the platform is dedicated to meeting all aspects of consumers’ needs around their home.

Read the complete story here

CommonFloor introduces Live In tours for rental and secondary properties

Aditi Shrivastava spoke with Sumit Jain, CEO and Co-Founder at CommonFloor to understand the technological breakthrough that Live In tours brings in to the industry.
CommonFloor has launched virtual tours for resale and rental property listings, seeking to provide home seekers a 360-degree view, from wall to wall and ceiling to floor, while differentiating itself. “Photographs are of the past,” said Sumit Jain, cofounder and CEO of Common-Floor. “With virtual tours of resale and rented properties, we will provide a close to reallife experience and try as far as possible to eliminate the need to go visit a property to make a decision,” he added.

Read the complete article here