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.

5 Totally Inexpensive Changes That You Should Do Before Moving To Another House!

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Moving into a new home is exciting for sure while it comes with a whole list of challenges too. Apart from looking at moving your home furniture and all your personal belongings, there are a few more important things that we need to keep in mind while shifting. This article informs you about the 5 changes you must make in your new house before moving in.

1.  Change Locks in Your New House

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Always remember that along with you, the previous owner of the house, service staff, and real estate agents will also have access to your new house. Therefore, it is important that you change all the locks on doors and review the entire security system. You can either get a new home security system or get a locksmith to change the locks.

2.   Organise Storage Space

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As soon as you move into your new house, you will need a lot of space to store your clothes and other commodities. It is not necessary that the storage units or closets existing in the house will be sufficient to meet your needs. Therefore, analyse the situation before you move in and install new cabinets, walk-in-closets, or shelves.

3.   Renovate the House

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Before moving into the house with all your furniture, you must get all renovation work done. If you would like to get the walls repainted, the best time to do it is when the house is empty and devoid of any objects. You can also repair damaged areas in the wall or ceiling. Finally, you can put a wallpaper or paint your new home in a colour of your choice.

4.   Replace Windows

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Your new house may have bad windows with insufficient protection from heat and cold. For example, if your new house is located in Delhi, you will have to install windows that can withstand extreme temperatures. Since the capital city faces high temperatures during summer and winter, it is better to use drapes or blinds to cover the windows. This will provide insulation to your home.

5.   Keep Your House Pest/Dirt Free

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To ensure that your house is free of any kind of insects or harmful germs, you must get it cleaned thoroughly. You can hire a professional home cleaning company to get the job done.

Implementing the above changes before moving into a new house will save you a lot of time and energy in the long run.

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Chapter CommonFloor Begins With A Bootcamp For Freshers!

The day starts with excitement and at times nervousness creeps in. Either you are unusually chatty or mostly quiet. From knowing which coffee is worth drinking to going for the first lunch with your buddy. Isn’t this the way the first day in our first job feels like? And for the organization, it’s the excitement of having a fresh talent into the system who would come with new perspectives and help us shape tomorrow’s company.

It was the month of June when 19 fresh and diverse talent from across various prestigious institutes like IIT, NIT, BITS Pilani and RV College of Engineering were added to the pipeline of CommonFloor’s Product and Engineering team.

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Breaking the traditional ways of welcoming new employees.

From the story of the evolution of CommonFloor, to the sneak peek into the cool products that we build here; from the buzz we create in the media, to the thrill the employees experience on the floor; the pipeline of information surely does build the excitement to the big day of joining. A personal email from Dinesh, VP – Engineering & Technology at CommonFloor provides the right dose of inspiration that any new engineer needs.

By providing such unique experience, we at CommonFloor solve the challenge of instilling the culture and values of an organization in new hires and make them self-sufficient from the first day.

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Graduating as a Bootcamper

As the new recruits walk into our office on Day 1, they are all enthusiastic about what’s in store for them and get ready for the Bootcamp. The boot camp is programmed to prepare the person in the aspects of:

Transition – the adaptation from college life to corporate life

Attitude – Directing their attitude and energy to the right direction

Ownership and Accountability – let’s face it…a fresher is not a baby for the organization, making them realise that it’s all about owning every outcome.

The 10-day Bootcamp is an opportunity for the new hires to get familiarised with the story of CommonFloor, the skillsets used to build CommonFloor’s amazing range of products, the various best practices followed at different levels of work done and a peek into the culture one needs to immerse into that the engineers have built. The candidates are given talks from various directors and development engineers, frequent assignments to keep them engaged throughout the camp helping them to love what they do and do what they love.

A comprehensive session on the all-important people policies, compensation and benefits instils the confidence required for the transition from college life to corporate life. It’s all about informing and making them ready for what’s important right from the day they join. A fresher graduates from the 10-day marathon Bootcamp by participating in an exciting Hackthon – Fresh Hack.

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Hackathons are innate need of an engineer and ‘Fresh Hack’ serves as a foundation for some great and new ideas that at times in the future can turn into real products.

Bootcamper’s take away

We asked a few Bootcampers after successful completion about how their experience has been over the 10 day span and this is what they had to say.

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We at CommonFloor believe that one of the takeaway from the Bootcamp is that it helps you to even unlearn habits that don’t fit with the competitive culture of CommonFloor.

This sets the premise for CommonFloor always trying to something different from the ordinary and etching a mark for themselves. So for freshers all we would want to say is – Make no mistake freshers, as we are headed to achieve greater heights by climbing the success ladder as technology evolves and we evolve with it – along with you.

Start-up: F is the word – Sumit Jain speaks on how start-up’s take birth and sustain in an exclusive with Financial Express

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A start-up birth needs at least three Fs. The first is Friends, who back you with brain and seed money. Then comes the Family, which, according to CommonFloor co-founder & CEO Sumit Jain, should be tapped but discarded soon (their money is good, but advice isn’t) . Then come Fools; the people who are inspired enough to risk joining you.

Once these three Fs are in place, the rest will fall in place. “We never scouted for investments. Investments happened over coffee”, says Sumit, an IIT Roorkee grad who chucked an Oracle job to follow his business instincts.

Techies Sumit, Lalit Mangal and Vikas Malpani are aiming to redraw the property search market with an ace device named Retina—basically a cardboard headgear that costs just Rs.500. When placed over a mobile, Retina “allows you to view, review and assess multiple properties from anywhere”, eliminating the need for physical checks to decide on a property.

“Typically it takes 12 months, 72 hours of search and 300km of travel to finalise a property”, claims Sumit. But with Commonfloor, which also has video view of properties on its website, hundreds of properties can be viewed sitting at home or office. And property dealers, buyers and renters are loving that comfort.

The company now covers around 1,000 housing projects and 4,000 properties in 200 cities, with plans to expand these numbers rapidly to hit revenues of $1 billion by 2020.

In the Commonfloor business model, its services (like videographing properties) to buyers and sellers are free. It only charges property dealers for every enquiry they get through its website. “We charge only for lead, because that is the only thing we can track”, says Sumit.

But the start-up co-founders aren’t much bothered about the money part. Their thrill is in changing the market, innovating and growing the company. “We are the first to do Retina in the world… we’re innovating a lot. We have some 130 data points about buying properties. We’re educating the buyers..We’re thinking of how to bring every household to Commonfloor. We’re visionaries”, Sumit is excited.

When the three friends left their jobs, Commonfloor was not the goal. They only wanted to create technology-led new markets. They had Rs.1 lakh each, just enough to last a year. Midway they ran out of money, then they created app for a company to ride the storm. “We realised early that money is neither the problem nor the solution. Passion, courage, conviction, can you be there, can you stand there and make sure you’re the last man standing? It is these things that count.”

Sumit is not worried about venture capitalists cannibalising the company either. He says start-up founders should not worry about their stake. “Which is better, you have 100% stake but your company is worth only Rs 1 or you have 1% stake, but your company is worth Rs.1,000 crore? As founders we’re passionate about building the company. And investors help us realise it. Moreover, investors too have a reputation to manage. If they mess with one start-up, nobody will approach them after that.”

Also, even if investor stake goes up, control will still be with the founders. “VCs cannot run hundreds of companies. Even if you have 100 cars, you need drivers to run it. So ownership doesn’t matter…We’re confident that we’re building a company that will last beyond our lives. My biggest priority is that I should be able to help people.”

“If you create a value, you can monetise that value someday. I can make money by selling my kidneys also. Making money is not the toughest things, but how you make money matters. How am I creating value? Am I creating value for home buyers, brokers and employees?” he asks.

Now one knows why start-up is a youngsters’ game. After 40, you cannot talk like this. Or perhaps, think like this. Even if you think and talk like that, it won’t be so easily convincing!

Read the original article here

Sumit Jain awarded ‘Young Achiever of the Year’

Sumit, Jain, Co-Founder & CEO, CommonFloor.com, was awarded the title of ‘Younger Achiever of the Year’ for his notable contribution to the Real Estate Industry. The award was conferred by Honourable Chief Minister of the state of Maharashtra, Shri. Devendra Fadnavis at the National Awards for Excellence in Real Estate & Infrastructure, presented by Lokmat. The award ceremony took place at the Taj Lands End in Mumbai recently.

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Sumit Jain said, “I feel humbled and greatly honoured to receive this recognition from Shri. Devendra Fadnavis. I would like to dedicate this award to my Co-Founders, Investors and every employee of CommonFloor for their constant support. This award is a great testament of our constant quest for bringing innovation and enabling customers’ to make more informed and efficient home buying decisions”. The award recognizes the highest levels of achievements and contributions of an individual in the real estate and infrastructure industry. Sumit Jain won this title due to his sheer determination, passion and thought-leadership that has revolutionized the entire online real estate industry.

Sumit has been instrumental in conceptualizing the idea behind CommonFloor.com, building the business from scratch, raising funds, managing cash flow and establishing a strong business model. Enthusiastic and energetic,he is a strong believer in leadership that motivates and inspires people to perform, and advocates that being disciplined and completely focused helps maintaining a good work-life balance.

He also won the Business World ‘Hottest Young Entrepreneurs’ title, along with Fortune’s ‘Emerging CEOs Forty under Forty’ and Forbes’ ‘Top 30 CEOs under 30’ title.

Sumit Jain’s authored article featured in ETRealty

It has been raining start-ups in India for the past couple of years and we have been witnessing an array of start-ups mushrooming in every corner of the country. Whether it is an IIT-pass out or a senior executives who have quit their job to start something of their own, everyone is working on a solution to address an industry level challenge with a twist of difference.

Real estate industry is ripe for revolution and disruption and it can be achieved by bringing a strong movement towards empowering the consumer. With people being able to access the required information more effortlessly and quickly, so that they can make fast and informed decisions.

We just need to constantly keep asking the age-old question “Is there a better way?” that will help to make life easier and better, and in the process, inject real change into the real estate industry.

Yet, many perceive raising funds for one’s company is a parameter for success and route to fame; what they fail to realise is that how it is a double-edged sword.

Starting and sustaining the energy in building the company requires far more than just a pioneering idea. Appended are quick scribbles from Sumit Jain, Co-Founder and CEO of CommonFloor.com which would help many budding entrepreneurs.

  • People who partner with you (employees, founders, investors, customers) to help you execute your vision, be grateful to them.
  • Don’t have any personal agenda. The only agenda should be to execute the vision. Ensure everybody in the company has the same agenda.
  • Be the first to take the blame and last to take the credit. Lead from the top & execute on the ground.
  • Don’t raise capital to raise again. Raise capital to build and not run. Take the company to a significantly higher level before you raise again.
  • Tell the bad news first. No one is perfect enough to not to make any mistakes. If you are not making mistakes, you are not trying hard.
  • Have a succession plan for yourself and the progression plan for the level below. Make yourself replaceable by empowering people.
  • Go tough with the problem. Be generally nice to the people around. It doesn’t harm to appreciate if somebody is doing a good job.
  • If you aren’t doing anything that can’t be replicated, you are just going to be a catalyst. Change the behavior; make sure you leverage it.
  • It’s not a sprint, it’s a marathon. Stamina is as important as speed, probably more. Be fast and be strong.
  • Be the last man standing. Be the guiding force. Be the custodian of the vision. Be the first one to come and the last one to go.
  • If you throw shit, people throw back more. If you throw flowers, people might not return the favour. I feel the latter is any day better.
  • Generating revenue is not bad. You don’t make product to make money, you make money to make product.
  • As a leader, whatever you do, you inspire a lot of people. Be responsible in whatever you do. It’s not just about you anymore.

Read the original article here

CommonFloor conducted India’s First Ever Home Buying Class on 18th July 2015

4 (2)Home buying, for most of us is one of the most taxing and time consuming activity as it is an important decision that one would take in a lifetime. Buying a home can be as exciting as it is overwhelming, but the more information you have, the better off you’ll be. CommonFloor hosted India’s first ever home buying class for novice home buyers to get all their property buying queries answered by experts, thereby giving them an opportunity to learn the different aspects of home buying and to be a responsible home owner.

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The event was hosted at the CommonFloor Bangalore office on 18th July and was spearheaded by CommonFloor’s Domain Research team. The expert panel consisted of industry thought-leaders like Mr.Jagannaathen – Managing Director of Vintage Wealth Managers (India) Private Ltd, Ms.Shobha Bhavikatti – Legal Expert, Legalis, Mr.Vikram Hegde – Business head at Finance Buddha & Mr.Naresh V Narasimhan – Principal Architect from Venkataramanan Associates. They shared some interesting insights and anecdotes about best practices of Home Buying with the audience and also answered all their property related queries.

2 (1)The session acted as a great platform for the potential home buyers to get connected to some prominent personalities from legal, home loan, architectural background and get the best possible advice for their queries. The knowledge driven session led them to understand the nuances of property buying like home loan, do’s and dont’s legal formalities, litigation issues, to even flooring and vastu related information.

3 (1)With the success of this program, CommonFloor plans to take this initiative to more cities and educate more home buyers about the best practices of property buying and thereby help them buy a home without any fear.

IMG_4385This initiative aligns with CommonFloor’s vision of enabling people to make property decisions more wisely and easily and thereby making the buyer feel empowered.