Mumbai, India, April 9, 2014: India’s map-based real estate search portal, Housing.com is innovating real estate in India. Housing.com-Data Science lab has launched its “Real-Time Demand-Supply Monitoring Tool”. Through this tool Housing.com want to focus on providing best and adequate inventory in the region where the demand is more and where inventory is inadequate.
Co-founder and Head of Data Science Lab, Abhimanyu Dhamija, said, “A classified platform’s job is to optimize demand and supply and we were shocked when we realized that no one has been working in that direction. The Real-Time Demand-Supply Monitoring Tool is easy to understand real estate indicators for the common man.”
• What is it? – The Real-Time Demand-Supply Monitoring tool is an elegant, map based, beautiful, colour coded visual representation of the result of demand and supply interaction in the property market. Localities that show a dearth in demand have been highlighted in varying shades of blue, while those in need of supply have been denoted in yellow and red. Ideal localities with a balanced market have been displayed in green. The aim is to flaunt all cities in hues of green.
• Why now? – For the first time ever, this data has been thrown open to the public. It had been the privilege of real estate firms and banks till date. Living up to its ideal of transparency and authentic information, the company has decided to make it public. This data has been fueling the mechanism of marketing, sales and operations at Housing.com.
• How it is used? – Should there be an imbalance in a particular locality, the company will begin efforts to rectify its working. If there is high demand for a particular configuration (For example, Furnished 2 BHK in Bandra), the Operations and Sales teams are alerted to arrange for more inventory in that locality. Should supply exceed demand in an area, Housing drives demand into micro markets using BTL activities.