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India’s first native Virtual Reality (VR) product for 3D presentation of real estate projects
First global integration between touch devices and virtual reality
National, September 10, 2018: Housing.com, part of Elara Technologies Pte Ltd which also owns PropTiger.com, and Makaan.com, today launched the first-of-its-kind innovative virtual reality (VR) based solution ‘RealtyVision 2.0’. In line with the brand’s vision of empowering its customers with top technology solutions, ‘RealtyVision 2.0’ is the newest way of digitally presenting real estate projects within a simulated environment. Adding VR to DigiSlate’s touch experience, the product is an innovative integration between touch devices and virtual reality that makes use of this advanced VR to give a conclusive picture of the home a customer is interested in.
The portable product offers 3D walkthrough support and can be controlled from both the buyer’s as well as the seller’s end. It will reflect the consumer’s real-time journey via a touchscreen. This feature will enable the seller to guide, explain and navigate during the digital tour through a convenient remote/pointer-based interaction. The product supports VR gears including Oculus Go and Samsung VR and allows live stream between VR Gear & touchscreen.
The state-of-the-art technological solution offering integrated 3D experience will work without an internet connection, easily facilitating customer visits. The device will allow the builders to sync all data through the Cloud and update with fresh information and new projects as per their need. Builder customers will be able to add 3D content to large screen touch displays to support 3D virtual tours of a property within minutes. One DigiSlatecan host several product showcases, from floor plan to tower level 3D integration.
Commenting on the development, Ravi Bhushan, Group CPTO, Housing.com, PropTiger.com and Makaan.com, said, “Virtual reality is moving from being a novelty to a necessity in the real estate sector. Home buyers, developers, and real estate agents are demanding a better and more efficient way of discovering and showcasing properties. With ‘Realty Vision 2.0’ we aim to offer an immersive experience to meet the evolving needs of our customers. With each of our launches, we are determined to augment the feel of home buying. We believe that this innovation will empower consumers to make smarter purchasing decisions more efficiently.”
“India cannot lag behind when it comes to reaping the benefits of technology in real estate. Our endeavour is to bridge the gap between technological developments around the globe and products in the Indian real estate market. RealtyVision 2.0 is a game changer and with each new product launch, we are determined to raise the bar for home buying experience” Bhushan added.
According to International Data Corporation (IDC), worldwide spending on AR/VR is forecast to increase by 95% to $17.8 billion in 2018, from $9.1 billion in 2017. In India, the AR/VR market is expected to register a Compound Annual Growth Rate (CAGR) of more than 50% in the next five years. By 2020, the Indian real estate sector is expected to touch US$ 180 billion. This presents a massive opportunity for developers and realtors to leverage marketing strategies based on Virtual Reality to enhance their conversion rates and business growth over the next five years.
About Elara Technologies Pte. Ltd.
Elara Technologies Pte. Ltd is a Singapore-based technology services company and is the owner of Housing.com, PropTiger.com and Makaan.com. The company provides digital real estate marketing and transactions services.
Housing.com
Founded in 2012, Housing.com is India’s most innovative real estate advertising platform for developers, real estate brokers & home owners and for consumers searching to buy and rent homes. The company offers the largest selection of verified listings in India through a trained team of data collectors, analysts and auditors. The one-of-a-kind Data Sciences Lab at Housing.com analyses a significant body of information to allow buyers and sellers to make intelligent decisions.
PropTiger.com
PropTiger.com is India’s leading digital real estate advisory firm offering a one-stop platform for buying residential real estate. Founded in 2011 with the goal to help people buy their dream homes, PropTiger.com leverages the power of information and the organisation’s deep-rooted understanding of the real estate sector to bring simplicity, transparency and trust in the home buying process.
PropTiger.com helps home-buyers through the entire home-buying process through a mix of technology-enabled tools as well as on-ground support. The company offers researched information about various localities and properties and provides guidance on matters pertaining to legal paperwork and loan assistance to successfully fulfil a transaction. Since inception, the PropTiger.com team has facilitated the sales of close to 20,000 homes worth nearly US$2 billion.
Makaan.com
Makaan.com was acquired by Elara in May 2015, with a vision to establish a true “marketplace” in real estate. With consumer ratings on more than 10,000 sellers, credible listings data and real-time intelligence on property search, makaan.com has quickly emerged as the preferred partner for consumers looking to rent, buy or sell a home. With its unique post-paid advertising fees model and value proposition of no upfront fees for sellers, makaan.com has grown to have more than 10,000 active sellers in a short span of time. makaan.com offers its online consumers the maximum property options and has become one of the largest advertising platforms in online real estate in India with over 900,000 properties listed across the country.
Makaan.com was recently selected as a runner up in the Most Innovative Platform category at a global event in the ICMA event held at Vienna, Austria.
