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Housing.com Ties Up With Tata Value Homes

Housing.com Ties Up With Tata Value Homes

By Press Trust of India | Updated: 25 November 2014 14:22 IST

Tata Value Homes, a subsidiary of Tata Housing, has tied up with realty portal Housing.com to sell homes online.

The partnership will allow customers of Tata Value Homes to use Housing.com's 3D rendering platform 'Slice View' to check the properties offered by the former.

Tata Value Homes has listed its four projects in three cities, including Bengaluru, Chennai and Pune, on the portal and the average price of the flats is around Rs 30 lakh.

This partnership also marks the portal's entry into direct selling of first homes to customers, Housing.com Co-founder Advitiya Sharma told reporters here today.

"The 'Slice View' 3D platform will revolutionise the way customers buy properties, as it aims at bringing full home search experience online," he said.

Housing.com currently has rental and resale properties listed on its website. "This is the first time that we will be actually assisting a developer in selling first homes," Sharma said.

Tata Value Homes, which started selling homes online last December as a part of Google's Online Shopping Festival, has also tied up with Snapdeal.com and launched its own e-commerce platform tatavaluehomes.com to sell its properties online.

(Also See: Japan's SoftBank Reportedly Buys 30 Percent Stake in India's Housing.com)

"While the Indian consumer has matured over the last few years and is accepting online as a platform to purchase homes, we believe our partnership with Housing.com will enhance the overall experience of the consumer in completing his online home buying experience," Tata Housing CEO & Managing Director Brotin Banerjee said.

Tata Value Homes has so far sold 700 homes online, generating over Rs 300 crore in the value, which is almost 45 per cent of its sales.

When asked about the revenue sharing model for the companies, Sharma said, "We cannot disclose the details about revenue sharing. But for Housing.com, it will be a transaction-based revenue model, which is unlike our traditional listing-based model. Going forward, we expect this new segment will have a larger contribution in our revenues."

The portal, which has already raised funds from PE players like Helion Venture Partners, Qualcomm Ventures and Nexus Venture Partners is looking at another round of funding from SoftBank Corp.

"We cannot divulge details about the fund raising plans as it is still in the process. We will be utilising our funds for expanding our presence in newer cities and take the count to 300 towns from the current 45. Also, we will be spending on marketing," Sharma added.

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