If we have to point out some of the worst fights online, the fight between 99acres Vs. MagicBricks will be one of them. The two have been in real estate for years, but their fight has made more headlines than their achievements in the real estate business. The 99acres Vs. MagicBricks conflict surely has a deep impact on the customers. Even I was confused if I want to do something with my property or look for one which one should I choose? 99acres or MagicBricks? Both claim they are the best. But why? Through this article, we have listed out the points from both sides in the 99acres Vs. MagicBricks conflict for you to choose the winner in the end-
Performance of 99acres
Home purchasing feeling improved as open area banks and private players sliced home credit loan costs to a 15-year low. Below the list shows how 99acres have performed this year.
Pre-COVID Times
2020 took the inquiries up by 80% of the pre-COVID times.
Engineers detailed a 50 percent recuperation in the number of exchanges.
The resale portion stayed under tension with bargains shutting at a 2-5 percent limited rate overall.
With an expansion of more than 31,000 units in metro urban communities, new dispatches went up by 4.5 times.
Post the COVID-19 episode, 99acres saw a drop with around 33,000 units in Jul-Sep 2020
2.5 occasions of the deals detailed in Apr-Jun 2020, for example, 9,700 units. Mumbai and Delhi drove other metro urban communities regarding the deal volume and comprised around 29 percent and 22 percent of the absolute exchanges, separately.
The provided property cost estimates stayed unaltered across urban communities. Notwithstanding, with offers, limits, and dealings on the table, exchanges shut at an adjusted cost of around 2-5 percent on a normal.
The most noticeably terrible influenced were Chennai and Delhi NCR, which endured the worst part of a high divergence popular and flexibility.
Bangalore and Hyderabad were the main business sectors that supported costs amid the pandemic and the resultant financial plunge because of the strength of end-clients and a positive interest flexibly condition.
99acres
New dispatches went up by 4.5 occasions with the expansion of around 31,000 units this quarter, as against 5,500 units in the past quarter.
The unsold stock plunged by a small one percent, YoY, and remained at 4.4 lakh units toward the finish of September 2020.
With the business sectors opening up around mid-June, a couple of engineers dispatched new undertakings, while the greater part centered around finishing and selling their continuous tasks. Homebuyers, be that as it may, stayed mindful of under-development tasks to limit the danger in their ventures. Prepared or close prepared units collected most extreme footing.
Performance of MagicBricks
With the Covid-19 pandemic having on a very basic level modified everyday connections for most, India’s land area has needed to zero in on highlights, for example, video walkthroughs and online rental installments, and even cashbacks and prizes to squeeze out development. Since the Covid-19 effect on the area has been grave, land tech new businesses would likewise have to have strong establishments to defeat the emergency.
magicbricks
One such organization is Times Internet-claimed land posting commercial center MagicBricks. As the organization plans for the post-COVID-world, it could cheer up from its to some degree improved monetary execution in the financial year finishing March 31, 2020, or FY20. Below the list shows how MagicBricks have performed this year.
As indicated by MagicBricks’ financials, and verified by Inc42, the organization recorded an income of INR 246.28 Cr in FY20, a 16% expansion from its income of INR 213.24 Cr in FY19.
The organization’s costs became 9%, from INR 221.13 Cr to INR 241.81 Cr.
While a year ago, the organization recorded a deficiency of INR 7.89 Cr. this year, it has figured out how to turn a thin benefit of INR 4.47 Cr.
Furthermore, with the conceded charge recorded down as a resource and added to the EBITDA, the organization has announced a general benefit of INR 49.63 Cr.
The expense of materials devoured, worker benefits cost, account expenses and devaluation, exhaustion and amortization cost saw an expansion.
Costs regarding upkeep, power, travel and other various costs, declined by 9%, from INR 117.92 Cr to INR 107.49 Cr.
Land tech organizations are focusing on highlights to fill the dispersion hole, especially for home viewings and documentation. The filings express that MagicBricks is hoping to add more highlights in its differentiated portfolio and that during FY20, the organization put resources into “land supplies of huge designers across India for capital appreciation.”
It is important that before this month, the Times Internet-possessed organization augmented its bundle of administrations to incorporate a scope of rental arrangements, for example, tenant contracts, inhabitant confirmation, and pay lease, as it broadens its property administrations commercial center.
Administrations for occupant confirmation and tenant contract can be profited at costs beginning INR 499. Inhabitants can likewise utilize MagicBricks’ Pay Rent stage to move leases up to INR 45,000 to their landowners by utilizing Mastercard and procure reward focuses, the organization said in a delivery.
A Brief Overview of Traffic in 99acres Vs. MagicBricks
Monthly visitors: MagicBricks wins
Average Daily visitors: MagicBricks wins
Clicks per visitor: MagicBricks wins
Total Minutes spent on the site by the visitors: 99Acres wins
Unique visitors: 99acres wins
Now several other aspects can be kept in mind like site accessibility, a total number of customers handled, successful and failed projects, etc. to conclude. In a nutshell, we keep it on the readers which one they prefer in their real estate related matters. As of this current month-
MagicBricks successfully has more than 1 Mln dynamic property postings, of which, 58% are available to be purchased and 42% for lease
2.1 lakh selective postings posted uniquely on its foundation by singular landowners from across 700 towns and urban communities.
In this case, MagicBricks wins, but as we already said, it’s up to an individual which one he/she prefers as in the conflict of 99acres Vs. MagicBricks, both have a lot to offer.
According to a survey done by top 10 real estate websites in 2017, 51% of the total home buyers found their home on the internet. In fact, people do depend and trust on real estate websites to make a purchase. So, here are the top 10 real estate websites that you can refer to before buying a property.
You can use these top 10 real estate websites if you are searching for a new real estate website provide. These sites will provide with resources to help potential buyers as well as sellers. Let’s get to know about these websites.
In India, 99Acres is one of the top real estate websites that provides for real estate agents, brokers and customers. It helps the user to find a property in more than 50 cities. With a user-friendly website and a mobile application, this website has won GSF Mobile Appies Award Winner 2015 under the real estate category. It also has become the 2nd largest property portal with an Alexa ranking of 140 in India.
MagicBricks
MagicBricks is not only one of the top 10 real estate websites but also deemed the most preferred property website in India. This has been reported by an independent survey. At present, this website has over 7000 properties for sale. A venture of Times Of India, this website is managed by Bennett, Coleman & Co. Ltd.
MagicBricks
It also features a number of new projects according to the user’s choice. Not only that, but the user can also get information about home loans, legal, taxation, home insurance, and government policies related to private properties.
Housing.com
Housing.com
One of the most verified property listing websites, it currently has over 1 lakh sellers on its website. Founded in 2012 and known to have a commanding presence in Mumbai, Maharashtra. As it supports both Android as well as iOS users, it is capable of catering a vast audience all over the country. It has presented over 40 cities in India with an Alexa ranking of 318.
Sulekha Properties
Sulekha Properties
With an Alexa rank 99, Sulekha Properties comes under the top 10 real estate websites to refer. Its features include regularly upgrading of their database. It also uses a few strategies to ensure smooth communication between brokers and home buyers. Learn about price trends as well as a few best investments projects in your chosen location.
NestAway claims themselves to be ‘India’s fastest-growing managed home network.’ It was founded in January 2015 by four Bengaluru based entrepreneurs Amarendra Sahu, Deepak Dhar, Jitendra Jagadev and Smruti Parida. They ensure the user a very easy and user-friendly way to find a living environment for everyone seeking for a house.
Quikr Homes
Quikr Homes
One of the top 10 real estate websites that have been a game-changer in the aspect of the realty business. The website offers its user to independently connect with buyers and sellers online. The versatile interface has made Quikr grow really fast. Besides real estate, Quikr also offers service in various other fields as well. An all-rounder, ready to serve with just a click.
CommonFloor
If you are looking to buy or rent a property in top tier cities, then CommonFloor is your option. It has a connection in cities like Bangalore, Mumbai, Pune and New Delhi.
CommonFloor
This one is relatively a new website founded by IITians it has an exclusive feature added. It allows the user to get an experience of the live visit to the properties. This feature is known as CommonFloor Retina, which is blended with a unique virtual reality technology. Selecting a property is much easier which makes it one of the top 10 real estate websites.
IndiaProperty
Another website in the list, IndiaProperty is also known for its unique way to serve the user. It ensures end to end assistance before buying the property. But this is not the end. They provide assistance even after you are done with your buying process.
IndiaProperty
IndiaProperty also enables its user to experience a built-in technology for 3D floor plans and virtual tours. These ensure that the buyers get a personalized feel while visiting their selected properties online.
Started as hotel website, Oyo is really growing its branches and has added its name among the top 10 real estate websites very quickly. It has offered a much versatile service and has updated accommodation for the users.
OyoLife
Currently, OyoLife has a presence around 11 cities in India. It provides the buyers with basic amenities like housekeeping, internet, kitchen, etc that are available in every house they provide.
PropTiger
PropTiger
One of the best home buying websites that allow its user to have the best experience to its clients. It also helps in assisting them with matchless guidance throughout the journey. Their basic services include discovering, buying, renting, selling and financing a home. They operate throughout the country. Although people finding a resident in places like Mumbai, Bangalore or Pune will get a better experience.
These top 10 real estate websites will help you reach up to the best and suitable property you are looking for. It is important to get acquainted with the features that are available in each site. Although all these websites are highly user-friendly, you will still get better options if you know how to browse into the corners to get the best results.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organisations. The content in this post has been approved by the organisation it is based on.
We know important work station spacing and culture are. With the young minds hustling all day to achieve organizational goals, it is imperative to provide them the right frame of mind with regards to the space and ambiance of the office. With the same insight and to provide top-notch work stations, Vinayak Agarwal and Utkarsh Kawatra launched myHQ in 2016.
myHQ was conceptualized with the idea of creating a chain of work-friendly spaces and providing young millennials, Startups, SMEs and Enterprises with excellent work experience. Keeping in mind the real estate space crunch in urban cities and realizing the importance of an all-encompassing ecosystem for better productivity, motivation and networks myHQ was envisioned by the founders.
myHQ is building a chain of branded and standardized workspaces. It guarantees the users that all the office essentials such as high-speed Wi-Fi, plug points at every seat, discounted F&B, free printing, and stationery and access to all other office amenities at all workspaces and work cafes. It offers different workspace solutions over these network of spaces:
Flexi The Flexi subscription is a unique visit based subscription model, where the user only has to pay for the days they use the space, without having to worry about monthly rentals or security deposits. The Flexi subscription plans offer users access to a rich variety of workspaces with lifetime validity and standardized workplace experience at just INR 200/day. Users can, for example, choose to work from a coworking space in Connaught Place one day and from a high-end work café in Gurgaon the next, without having to worry about monthly rentals and security deposits.
Team Flexi The team Flexi plan is targeted towards the mobile sales and business development team that are constantly on the move. They need space for their meetings or between their meetings to sit and work for a few hours. The Team Flexi plan allows companies to easily manage their mobile team, gives them visibility of their work schedule and helps them eliminate the need for reimbursements / per-diems. Once the company subscribes to the myHQ Team Flexi, they give access to their employees through a dashboard. The employees can reserve and work from any myHQ space that is close to their home/client office. There are no monthly or fixed charges, like the Flexi the plan the company is only charged for the reservation they make.
Dedicated Desks With the dedicated plan, users get a dedicated space reserved for them for a month. Users can choose to book just a desk, a private cabin or a customized private managed office designed according to your needs. Our representatives help the users choose from the best option depending on their requirements and arrange visits to these spaces. myHQ has the widest coverage in the market with 160+ workspaces across Delhi NCR and helps the user find the best space based on their needs. Once the users are satisfied, they can book the space online. It also offers the lowest price guarantee, where if they find a better price myHQ gives them an additional 10% discount.
Vinayak Agrawal andUtkarsh Kawatra are the Founders of myHQ
myHQ Founders
“Interestingly, we first met each other at a break-up party of one of our common friends during college. It was just a casual interaction, though it did lead us to work together in a college project and BloodConnect which is an NGO founded by Utkarsh Kawatra. We have been friends ever since. The bond grew in 2015 when we were both in Bangalore. Bangalore traffic and dinner outings gave us a lot of time to catch up and become good friends.” Said Vinayak Agrawal, Co-Founder & CTO, myHQ.
Over the last 2.5 years in myHQ, they have gotten to know each other even more. The journey from the highs to the lows, both personally and professionally – the founders practically live each other’s lives!
myHQ Team
Vinayak Agrawal is the Co-founder and CTO at myHQ. At myHQ, he spearheads the product, technology, and marketing divisions. Before starting his journey with myHQ, Vinayak worked as a Quant and Algorithmic Trading Strategist at Goldman Sachs. At Goldman Sachs, Vinayak built pricing models and scalable trading platforms for the Asia Fixed Income trading desks. Vinayak holds a degree in Electrical Engineering from the Indian Institute of Technology Delhi. During his time at IIT, Vinayak worked on Machine Learning and Computer Vision research and was awarded the best undergraduate thesis in his department. Vinayak also holds two patents to his name.
Utkarsh Kawatra is the Co-founder and CEO at myHQ. He spearheads the Sales, Business Development and Operations divisions at myHQ. Before myHQ, Utkarsh co-founded BloodConnect (bloodconnect.org), India’s largest youth-run initiative in the field of blood donation. BloodConnect is present in 10+ cities, a team of 200+. He is currently on the Board of BloodConnect as an advisor. Utkarsh started his professional journey as an investment analyst with Helion Ventures, where he evaluated B2C startups for investments. Utkarsh has also worked at Opera Solutions where he was responsible for procurement, handling cost-cutting projects for clients across IT and telecom sectors. Utkarsh has graduated from the Indian Institute of Technology Delhi, with a degree in Mathematics and Computing. At IIT, Utkarsh was actively involved in various extra-curricular activities. He has represented IIT Delhi in aquatics at inter-IIT sports meet and has led the social service wing (NSS) of the campus.
myHQ – Target Market Size
In India, this sector is a $20 Billion market. The coworking market size for SMEs and Startups is $4 billion (2 Million seats for SMEs/startups). The day time cafe users market is $16 billion large – this includes freelancers ($15Million), Masters / Ph.D. Students ($2.5Million), and corporate professionals/sales teams/business travelers ($6Million).
All of this started when the co-founders were looking to solve the commercial real estate leasing problem. They were exploring the area of setting up coworking spaces. One of their friends, who owned a lounge in Greater Kailash (Delhi), suggested they use his lounge as a day time co-working space. Though initially hesitant, the founder duo took it up and saw many people, joining and working from the space.
Within a month, they had the lounge filled without any marketing effort. They saw different types of users, right from a college student coming to study to a freelancer working on projects, from a 5-member start-up working out of the space regularly to a VC using it for meetings. Seeing the varied use cases, and getting more requests from other space owners to set this up, the founders realized that this was hitting a sweet spot of bringing efficiency and creating a lot of value for all involved stakeholders. Looking at the initial interest, they finally decided to go ahead with this. And that’s how myHQ was born.
myHQ Logo
Working on only one location initially for 3 months, they learned with time- about the expertise needed in this business. They had realized it is a lesser real estate and more about hospitality, streamlining operations with technology and building a community. Though the initial offering was targeted towards individuals, over the past couple of years, they have expanded their product offerings for Mobile Teams (sales & business development folks on the go), Start-ups, SMEs and enterprises looking for private or customized shared office spaces.
Since Vinayak and Utkarsh did not own the space or have a person present at the spaces, controlling the work experience at these spaces imyHnitially was a challenge. Over the last couple of years, they have invested in building a strong technology infrastructure to get a real-time snapshot of the space – a centralized Wi-Fi management system, Payment system at spaces to redeem credits, inventory management, monitoring the spaces real-time (occupancy levels, Wi-Fi status, etc.). This has helped them keep their operations lean and at the same provide great work experience to the users.
myHQ – Business Model and Revenue Model
myHQ is a workspace solution provider – whether you are an individual or an early stage start-up or an enterprise, it offers products/services that meet the user’s requirements most precisely. One can book seats by the day, month or get an office space designed according to their needs.
myHQ offers both fixed workspace solutions for teams and mobility solutions for individuals and corporations to manage their mobile teams. It is more of a managed marketplace, and the revenue model is revenue sharing.It takes a percentage of the revenue that it helps the partner spaces generate.
Most of the initial users came from the co-founder’s network – friends who we invited to try the product/experience working out of a lounge and share their feedback. They would speak to people working from cafés, explaining them about myHQ and offering them free trials to myHQ spaces. Also, the founders hosted a lot of networking events at their spaces which helped them spread the word. Post the initial set of users, most of the user growth came from word of mouth and referrals. SEO and content marketing are other important channels of growth.
There’s also this marketing campaign that went viral. It so happened that the founders launched a Coworking In Delhi Metro Campaign on April Fool’s day which went viral! While they did expect the campaign to do well, they didn’t expect people would believe it to be true especially with the timing of the campaign. They even received a call from a journalist who wanted to go live with the story in the next 30 mins on national TV. “We still receive messages from people asking how the metro coworking is doing!” Added Vinayak Agarwal.
myHQ – Growth
Currently present at over 160 locations in Delhi NCR.
Maintaining an aARR of $3.5 Million
Has 12000 active members on myHQ.
Some notable clients include Etsy, Magic Bricks, OYO, Bharat Pe, Bulbul.
“We have been fortunate to have some great investors who actively mentor and advise us. Most of our investors are ex-entrepreneurs who have firsthand experience of building and scaling companies. We reach out to our investors for help, guidance, and advice.” Added Vinayak Agrawal.
“We plan to grow 6-7x by the end of this year. We are planning to expand to Bangalore in the next couple of months.” Concluded Vinayak Agrawal.
myHQ – FAQs
What is myHQ?
myHQ is building a chain of branded and standardized workspaces. It guarantees the users that all the office essentials such as high-speed Wi-Fi, plug points at every seat, discounted F&B, free printing, and stationery and access to all other office amenities at all workspaces and work cafes.
Who are the Founders of myHQ?
Vinayak Agrawal and Utkarsh Kawatra are the Founders of myHQ
How much funding is raised by myHQ?
myHQ has raised funding of $2.1 million till date. Recent Funding in November 2019 was led by India Quotient, RB Investments, Suashish and LetsVenture for $1.5 Million as Pre series A
The world of the startup ecosystem is backed by the investors who work tirelessly to ensure that the companies face no issues related to establishing their mark in the big stage. Well, one of the main areas of the startup ecosystem is gaining popularity is the prop-tech startup circuit.
Well, today, we are going to discuss the Singapore-based prop-tech startup named Homzhub. The main agenda of this company is to help investors seamlessly invest as well as manage properties through Homzhub.com in India and Singapore. Let’s have an insight into a Prop-Tech startup: Homzhub.
Quick Facts – Homzhub
Company Name
Homzhub
Headquarter
Mumbai, India
Sector
Real Estate Services
Founder
Harish Taori
Founded
2017
An Insight on Homzhub
Now, recently the company has announced its foray in elected Indian cities to help the investors to seamlessly invest as well as manage properties through Homzhub. The funds will be deployed to enhance the company’s technology platform, which has gained some popularity due to the increase in the dependency of the online sector during recent months.
In India and Singapore, the landlords spend a huge amount of money and valuable hours on finding the properties to invest, then renting and managing them without any sort of deep insights on their financial performances. This experience is very stressful especially when the landlord is not in the same city and does not have any reliable person to guard the functioning of the rented house. Now, this issue has been addressed by Homzhub!
As per Mr. Bharat Mandloi, who is a serial entrepreneur and a veteran investor, he exited his real estate investments in India because he faced humongous challenges in managing his assets. The functioning of the industry is opaque and grappling with issues like loss of confidence in property developers, lack of trust, and questionable ethical standards of intermediaries. At present, according to Mr. Bharat, the industry in the country is ripe for disruption.
Homzhub Logo
Well, amid chaos, Homzhub observed an opportunity to transform the landlord’s experience by bringing together the technical, financial, and logistical solutions. Homzhub’s real estate assets and tenancy platform empower the landlord with knowledge. Transparency, and ease of remote management of properties portfolio across countries. The company has a deeper understanding of India and Singapore’s markets. Hence, Homzhub delivers seamless transactions and professional management of properties in a tax-efficient manner.
According to Jaideep Nikam, a member of the Board of Directors at Homzhub, the company’s cross-border real estate investment and management proposition address a key concern of the ever-growing geographically mobile generation. It also covers the key concern of the ever-growing geographically mobile generation. Apart from that, Homzhub satisfies the customer’s deeper need for diversified wealth creation and at the same time, it generates work for the local vendors enabling the economy to prosper sustainably.
Talking about the team, a strong culture of Integrity, Transparency, and Mutual Respect and a highly energized young team has made sure that the performance is highly efficient and the team caters to the need of its clients well.
Founder of Homzhub – Harsih Taori
The team of Homzhub also aims to build a cutting edge technology platform and evolutionary business model to nurture a harmonious ecosystem, where the landlords, tenants, developers, and real estate agents execute property transactions in a highly efficient manner with complete peace of mind. The company has a strong focus on respecting the privacy and ensuring the protection of consumer data and hence, Homzhub has been making headlines within a short period.
We provide you a house…You make it a home…It becomes a heritage! Create a heritage of your own with Homzhub. pic.twitter.com/V1gJrMdYrf
Presently, the company has an aggressive roadmap of 100,000 user sign-ups by the end of the year and it will be expanding its sales and support the presence of other cities with Bangalore being high on priority. Now, the team of Homzhub has been working on the plans to expand its footprint across the country to become a pan-Indian player within three years.
Homzhub is one of its kind. It has been making a mark on that aspect of the startup ecosystem which was untouched and hence, has been successful in a short period. Now, with a growing need for real estate and prop-tech startups, Homzhub is the front runner and the face of the genre in the Indian startup ecosystem. Hence, a company like Homzhub is vital for the startup ecosystem.
PV Vyshnavi
