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Updated: Snapdeal to sell flats with Tata Housing tie-up; Ratan Tata investment

Snapdeal

Update: Tata Sons Chairman emeritus Ratan Tata has also made a personal investment in Snapdeal, reports The Hindu Business Line. The investment amount was however not disclosed.

Earlier: eBay-backed online marketplace Snapdeal.com is adding a real estate vertical to its website in partnership with the Tata Housing Development Co. Ltd. subsidiary, Tata Value Homes Ltd, reports The Hindu. Starting tomorrow, customers can book an apartment on Snapdeal.com for a Rs 30,000 non-refundable deposit.

The partnership claims to cover more than 1000 apartments from seven housing projects in cities like Bangalore, Chennai, Pune, Mumbai and Ahmedabad. The available apartment sizes will vary from 1BHK to 3BHK and will be priced between Rs 18 lakh and Rs 70 lakh. For the launch period, Tata Value Homes will also offer customers, booking through Snapdeal, Rs 10,000 per month as rent assurance for a year, even if they stay on premises.

Tata Housing has been increasingly focusing on online sales lately and claims to have sold over 600 apartments since December 2013, through its own website. The company claimed 70% of its customers came from the online medium. Currently, the company is planning new projects in Delhi-NCR and Kolkata before March 2015, which might get added to the deal.

Snapdeal expansion: Snapdeal has overall raised over $300 million investment till now, including $100 million from Temasek Holdings, BlackRock and others in May, 133.7 million from eBay and others earlier this year, a $50 million investment from existing investors back in June 2013 and $52 million in 2011 in separate rounds of funding from Bessemer Ventures Partners, Nexus Venture Partners and Indo-US Venture Partners. The company also appointed Abhishek Kumar as its head of corporate development to be responsible for its acquisitions, investments and partnerships earlier this month.

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Snapdeal also added a hotel and catering supplies vertical to its website earlier this month, and had extended its Snapdeal Plus same day delivery service to 15 new cities in May. In April, it acquired the fashion and lifestyle product discovery platform Doozton.

Competition:

Housing.com had launched a new segment for real estate developers to publicise properties that are under construction or brand new with a 3D map interface. The section is regarded by the company as an alternate to brochures and display ads.

CommonFloor had raised $7.5 million funding in a Series C round from existing investors in July last year. The company raised another Rs 64 Cr in Series D round of funding from Tiger Global and Accel India in January this year. Subsequently in April the company acquired controlling stake in the student accommodation portal Flat.to.

IndiaProperty had launched a subscription based service, Assisted Property for customers needing assistance in finding and buying property in 2013. Later, in the same year it started offering video directions to its property listings through a tie-up with VidTeq. The company also launched an interactive 3D virtual property tour just last month. It had also raised $12 million in a series B round of funding late last year from Bertelsmann and others.

-Other competitors in the real estate field include 99acres, Magicbricks and Makaan among others.

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