Tata Value Homes, the pioneers of online home selling in India has exclusively joined hands with MobiKwik, India’s largest independent mobile payments network, to allow mobile payments for home bookings. With this exclusive association, the customers can book homes across the country for just Rs 10,000 on paying through the MobiKwik Wallet. This exclusive association will be launched along with Tata Value Homes flagship offer, One Nation One Price. In this offer Homes across 6 cities, Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Boisar (near Mumbai) & Pune will be offered at one price point starting Rs 29.9 lakhs.
Mr. Brotin Banerjee, Managing Director and CEO, Tata Housing, said, “At Tata Housing, we have constantly yearned to stay ahead of the curve. This first of its kind collaboration with MobiKwik is unprecedented in the history of Real Estate industry. The success of the online platform has strengthened our belief that accessibility and convenience of the mobile platform makes it an ideal medium for customers. With more than 50% of the home searches happening on the internet and specifically on the mobile device, this will be the next game changer for the real estate industry.”
Commenting on the partnership, Mr. Bipin Preet Singh, Founder and CEO, MobiKwik said, “As Tata Value Homes ties up exclusively with MobiKwik, we are thrilled to usher in a completely new and instant way of booking a home. Most importantly, MobiKwik simplifies the payment process, which is often a deterrent for people looking to book a property online. MobiKwik and Tata Value Homes would empower every potential home buyer in India to bring his/her dream alive with a reliable, easy, transparent, and fast payment method.”
Mr. Bipin Preet Singh added, “As per a study commissioned by Google, internet influenced real estate transactions worth USD 43 billion last year, of which USD 31 billion was residential. With online real estate buying becoming a reality, it is an indicator of the times to come. The online real estate industry, estimated to be a USD 85 billion market by 2020 as per industry reports, offers a huge opportunity to us and we are excited to further our reach in the real estate sector.”
Tata Value Homes has already tapped into digital platforms such as Facebook, Snapdeal, and housing.com for selling homes. Having sold almost 2,000 homes online, the partnership with MobiKwik makes for a paradigm shift in the manner real estate is transacted in India.
Tata Housing through its 100% subsidiary Tata Value Homes, pioneered the concept of online home buying in India when it partnered with The Great Online Shopping Festival by Google in December 2013. Tata Housing maintains a complete transparency in all its transactions and the consumer has an option to go through the entire project on the YouTube page and the website. Apart from that he/she can also speak to the customer care to clarify any doubts with regards to the project.
Tata Housing has listed all its projects online spanning affordable, premium and luxury segments and sells all unit types (which includes flats & villas) comprising its projects. The company has 29 projects with around 70 million sq. ft. under various stages of development at 13 locations across the country.
MobiKwik has so far raised close to $30 million in funding till now from Sequoia Capital, American Express, Tree Line Asia, and Cisco Investments. MobiKwik is disrupting the payments space further by creating an offline retail network of more than 100,000 merchants across India that will serve both, as points for cash loading into the wallet and for wallet payments acceptance.
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2014 The Global Indian New Network (TGINN)