1 min read.Updated: 14 Sep 2021, 11:28 AM ISTLivemint
In June, MyGate launched ‘Homes’ for 2,300 societies on its app in Bengaluru. Over the next three months, the company logged over 10,000 listings. It has set itself an aggressive target of 25,000 listings per month by December
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MUMBAI: MyGate, a community app, has launched ‘MyGate Homes’, a property search marketplace.
By attracting listings from 3 million homes across 20,000 gated communities on MyGate, ‘Homes’ is well positioned to cater to buyers, sellers, landlords and tenants with a strong focus on transparency, accuracy of information, the company said.
A successful pilot in Bengaluru, which attracted over 10,000 property listings, cleared the way for a nationwide release late last month.
Two trends from the MyGate ecosystem pointed to the need for ‘Homes’ on the MyGate app. About 30% of all users on the platform, particularly tenants, move from one MyGate property to another every 12 months. Secondly, a sizable number of conversations on the app’s communication platform are about property, indicating that the market, in both its digital and physical forms, still does not adequately cater to the needs of users.
In June, MyGate launched ‘Homes’ for 2,300 societies on its app in Bengaluru. Over the next three months, the company logged over 10,000 listings with over 40,000 connections taking place. More recently, company took the product live across the country, with listings moving over 10,000 in a brief period.
Shreyans Daga, CTO and co-founder of MyGate said, “Property search remains a time-consuming struggle even online due to the number of information gaps. Being deeply embedded in the gated community ecosystem, we’re able to bridge many of these. We are able to provide buyers and tenants with all the information they need about a particular community to speed up their decision."
The company has set itself an aggressive target of 25,000 listings per month by December 2021.
Over the past month, 10 integrated services such as digital rent agreement with e-signing, legal assistance, movers and packers, property management, cleaning, painting and pest control have gone live on the app. In the coming months, solutions like interior decor, furniture and appliance rental, rental deposit and home loans will also join the list, in keeping with the company’s commitment to being a one-stop solution for all things related to the home.