It’s full steam ahead at Indian real estate portal Magicbricks, as the company launches a mobile app for property prices and acquired branding rights for a major train station.
Its new mobile app, PropWorth, is designed to help users find current property prices in Delhi-NCR, Mumbai, Kolkata, Chennai, Ahmedabad, Bengaluru, Hyderabad and Pune.
The app is part of the company’s strategy to expand operations, said Sudhir Pai, CEO of Magicbricks.com.
"PropWorth can be used to know the right price of any property in eight major cities,” he said. “We are using data from multiple sources, including those available in listings, to derive the property price.”
"Property buying is a complex process. Moving beyond property listing, we have now launched a bunch of products that help a consumer at different stages of the buying process.”
Magicbricks has also established Advice, a service to guide potential buyers through the process and includes products such as its Buy vs Rent Calculator.
The portal will also start a forum where industry experts will answer buyer queries, and a paid service called Premium for sellers.
In a major marketing coup, Magicbricks acquired the station branding rights of Western Express Highway Metro Station in Mumbai. The station will be renamed to be Magicbricks Western Express Highway, with branding will be publicised inside and outside the station and on route maps.
Magicbricks has installed ticker boards and digital boards to showcase property rates and trends of nearby localities and the city. The station is one of 12 on that line and has a high volume of office commuters.
“The Metro station rebranding is a further step in our efforts to make the Magicbricks brand omnipresent and part of the everyday lives of our consumers,” said Pai.
“This initiative will go beyond branding and station visibility. An innovative experiential zone will be unveiled soon which will add utility value and convenience to the property buying process.”