Real Estate Prices to be More Transparent and Reliable Courtesy of Square Yards

Square Yards is coming up with a reliable and authentic data intelligence repository that will help people view past transactions and pricing data for their chosen localities and projects. Data intelligence will completely change the game as far as the mainstream real estate industry is concerned. It will give higher negotiating powers to renters and buyers who can refer to their available data stacks while completing transactions. Owners can also stay in the loop about the actual valuations of their properties. It will not only lower the timelines for real estate purchase decisions, but also infuse greater transparency into the whole sector. Never again will a buyer end up paying a price that is far higher than the actual or deserving value of a property. 

Tanuj Shori, the Founder and CEO at Square Yards, states that history has various important lessons for the real estate sector, specially mentioning the 2008 US financial crisis which was driven majorly by the crash in housing prices. He explains how buyers essentially took mortgage-linked risks lightly while lenders did not completely understand their financial scenarios. The entire thing was caused due to something that he calls information asymmetry. He also stated that this was the reason that Square Yards wishes to do something that will fill up the vacuum in reliable and authentic data intelligence for the sector, benefiting all its stakeholders and end-consumers greatly. 

The information model will be at par with the one in the capital markets, where investors get access to historical price data for shares, current trends and forecasted future trends on the basis of analyzed data and insights. The CBO, Asset Management and Data Intelligence, Square Yards, Anand Moorthy, states that data intelligence which is authentic and reliable and accessible for everyone with swift references to price bands during rental/sale negotiations, will naturally transform the sector more positively. He talked of how an industry-wide solution as required and Square Yards has launched this unique solution for obtaining quality data linked to builder projects and price points throughout select localities and cities. 

The platform segments data into the broader categories of registered leases, sales, and mortgages. The data is completely based on the Government Registration Records, lowering risks of any errors, inconsistencies and also bias. Square Yards remains confident of the transparency and information accessibility enabling price standardization throughout the industry, creating a level playing field for all stakeholders. 

Square Yards has been compiling transaction data in the last five years throughout its existing network of 11 cities while covering additional cities such as Chennai, Kolkata and Ahmedabad among others. It is also building its Digital Title Search solution which will be another game-changer. This will be done in collaboration with major banking entities, helping people easily get earlier transfer and ownership information from the initial allotment stage to the present status. 

A more holistic and accurate e-valuation system is also in the works, that will take various parameters into account (recent sale prices, supply and demand factors, listing prices, macroeconomic indicators based on the location, etc) via algorithmic analysis. Such value-added solutions offered by Square Yards should facilitate diverse future benefits including lower turnarounds for property purchases and mortgage lending alike, while ensuring support for banks, valuators, legal firms, financiers, brokers, architects and property advisors in terms of taking the right decisions.