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Online Housing Portal Housing.co.in Raises Angel Investment

Housing logo Mumbai-based real estate portal Housing.co.in, has raised an undisclosed amount of angel investment, reports Yourstory.in.

The report states that the investment was led by Chaupaati Bazaar co-founder Zishaan Hayath and saw participation from other investors like Vaibhav PuranikShishir KapoorHemanth GotetiGagan GoyalHarsh Baid, Aditya Agarwal and Aatif Misbah. The company plans to use the raised capital for hiring. Interestingly, Housing.co.in has as many as 12 co-founders.

Founded in 2012, Housing.co.in is a location based rental property listing portal available as a web app and a mobile site. The company is currently operational only in Mumbai and its suburbs including Navi Mumbai. It claims to include only curated property listings on its portal, although when we checked, we found the portal to have a significantly low number of property listings.

The company website also suggests that it plans to extend its offerings to allow users to list their property for sale and search for property to buy.


Map-Based Search

When we checked, we noticed that the site currently offers a map-view of all the properties listed in Mumbai. One can select their preferred region to rent a flat to view various types of properties listed in that region. What’s worth noting is that the site offers an visualization of the pricing for each room type based on the area, when one hovers over any specific area.

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We also noticed that one can further filter the results based on price, number of rooms and furnishing or choose to see listings only from brokers or landlords. Interestingly, the portal also offers specific furnishing/amenities filters. For instance, one can search for a flat or an apartment based on dining, parking, fridge, sofa set, stove, washing machine, gym, swimming, lift, microwave and gap pipeline.

On each individual flat listing page, the portal offer information on the facilities available in that property, along with its location on the map, and photos of the flat. Once an user finalizes on the listing, they can contact the broker or owner by providing necessary details like Name, email address and phone number. The user can also share the listing with their friends via email or on Twitter and Facebook

Monetization: Housing.co.in currently allows landlords to upload limited listings for free and charges brokers a specific bi-annual or annual subscription fee to enable them to upload unlimited listings, according to a TechCircle report. Housing.co.in co-founder Advitiya Sharma however notes  that they plan to charge landlords in the future but didn’t disclose any specific information regarding this.

Competition: Accel Partners-backed real estate and apartment management portal, Commonflooralso offers a similar location based property search service called Commonfloor Maps. The service currently lists rental and properties for sale on its portal.

Besides this, Housing.co.in competes with Times Business Solutions’ property listing portal MagicBricks, Infoedge’s 99acres. It also competes with generic classified portals like Quikr, Olx, among others.

Similar developments

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Earlier this month, NetAmbit India, a financial products distribution company, had acquired real estate portals atOnePlace.com and theBuyerPower.com for an undisclosed amount. atOnePlace is an online real estate marketplace, while theBuyerPower is a group deal platform for real estates.

In November 2012, Smartowner Services India Pvt Ltd, a company that owns real estate marketplace Smartowner, had raised an undisclosed amount of funding from AngelPrime. Prior to this, Commonfloor had raised an undisclosed amount of funding from existing investors like Accel India and Tiger Global Management in October 2012 and the online real estate portal PropTiger had raised $5 million (Rs 25.97 crores) from Accel Partners and SAIF Partners in April 2012.

In May 2012, real estate group buying portal Groffr had introduced a new feature, called ‘Rent A Flat‘ allowing users to browse through listings of new flat/rooms available for rent, or post their flat requirements on the portal while Sulekha.com had launched Sulekha.com Property in October 2011, to offer property related information to users, including buy or sell property listings, rentals, information on localities and brokers, and others.

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