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IndiaProperty Launches Subscription Service AssistedProperty

AssistedPropertyOnline real estate portal IndiaProperty has launched a subscription-based service Assisted Property  for customers who need assistance in finding and buying a property, as reported by Techcircle.

The subscription based model has already been launched in Bangalore, Chennai, Delhi, Pune and Hyderabad and has more than 2000 paying subscribers, as indicated by the report. The portal basically provides assistance for property search and provides two premium three months packages — at Rs 6,000 and at Rs 15,000. It provides features such as property search manager, analysis, property shortlist, personalized property recommended dossier, site visit assistance, second legal assistance, home loan assistance, shuttle service, and registration and document assistance depending on the packages one selects.

IndiaProperty’s subscription based model is an interesting one considering that more than 50% of the revenue earned by its its competitor, 99Acres, comes from marketing. During the company conference call, 99Acres had reported a decline in the number of paid listings (they fell from around 428000 last quarter to around 427000 this quarter). In the con-call, the company also pointed out that more than half its revenue were not from listings but were from featured products, banners sold, branding solutions.

AssistedProperty follows a similar model adopted by BharatMatrimony took by launching AssistedMatrimony where it provides a relationship manager to assist the search.

Note that in May 2013, Consim Info which operates the matrimonial site BharatMatrimony.com, had spun off its real estate portal IndiaProperty.com as a separate entity. Following the demerger, Indiaproperty.com had raised $7 million (Rs 38 crore) in Series A funding from Canaan Partners and Mayfield Fund and both the investment firms now own equal stake as Consim Info in Indiaproperty.com.

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