Online Realty Startup Properji Offers Home Buyers Buybacks and Fraud Protection

Startup Properji is a professional services firm that gives home buyers research and advisory services on property.
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Looking to invest in a house, but don’t know where to begin or which builder to trust?  Realty platform Properji wants to help.

The startup founded in August 2013 by IIM and a University of Pennsylvania graduates in Bangalore is a professional services firm that gives home buyers research and advisory services on property.

Properji’s range of services help from finding property, to buying it, and post purchase services.

The company also provides a buy back guarantee if a home buyer is unhappy with the property after buying it.

What Does Properji Provide that Other Realty Sites Don’t?

Properji gives users listings of newly launched or pre-launches of properties across Bangalore city. This can also be found on other realty sites.

properji

Apart from this Properji provides ratings on various properties. The site claims these to be pro-buyer research reports. The research gives home buyers a detailed price point analysis, ROI with estimated rent and a 5 year forecast of the target price and property legality among others.

Property rankings are also provided on a scale of 10 on

  • location

  • appreciation potential

  • Builder score

All of these put together provide the Properji score for the builder and property. The rankings are based on an analysis of 100 builders across Bangalore.

Properji follows a subscription model to monetise of off its offering. Home buyers can choose from the free, basic subscription model, Home Buyer Value package or the Investor Plus category.

Depending on the kind of package a user wants, services vary. Services range from only assistance to assistance post-purchase based on the kind of package chosen. Premium service holders are offered fraud protection and buyback guarantee in addition to the other services for select properties.

The company claims to give fraud protection of upto Rs 1 crore in case of fraud by a property builder post purchase. The company also says that it will buy back property that customers are unhappy with, for upto 2 years from the date of purchase of the property.

Why Would Anyone Use Properji?

Properji’s services for home buyers is similar to that of a realty agent. And everyone wants someone whose advice you can trust when buying a house.

Properji claims to have a trove of research and data on builders that home buyers can rely on. Its buyback and fraud protection schemes also look promising. Standardising the services, backed by a brand means that the company has a lot more to lose than an average realty agent people depend on.

But, how good is the buyback and fraud protection really if it is only on select properties?

The company claims to have over 500 sign ups  and  have sold properties worth over Rs 19 crore already.

CommonFloor is another realty portal that is trying to help home buyers through a community based approach.

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