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Published on February 21st, 2015 | by Scott A

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How Housing.Com Digitized The Rent Procedures

Housing.com is growing by the day with a renewed focus on technology. The company plans to make its already strong tech team of 100 people more robust and plans to hire fresh talents for its mobile and web platforms. Buoyed by the recent funding from SoftBank group, the company plans to map over 4 crore homes across 300 Indian cities in the next couple of years. It has so far raised more than 120 million dollars in the 5 rounds of funding. By each passing day, it has been increasing the services offered to its customers through its website and has now gone on to digitalize the rent procedures.

Helps People to Create Property Agreements Online within Minutes

Realty transactions in India involve lots of paper work, have different laws for different states in India, and in generally involve confusing legal documents. This compels both tenants as well as landlords to spend lot of time in order to get their registered rent/lease agreements from the concerned registration office. Add to this, the 2 percent brokerage that both the parties have to pay to agents, and the process not only gets complicated but also costly. However, the new rent agreement product by Housing.com let’s its customer to create, draft and customize their rent/lease agreement online within five minutes by giving inputs like security deposit, rent, property area and other amenities.

Housing.com Delivers the Rental Agreement at Doorstep

Housing.com has taken its services offered to customers to altogether new levels. In addition to allowing customers to post free ads for rent,it also delivers the rental agreements at home. This facility is currently available for Bengaluru. It is no longer just a portal that helps it users to undertake property buy sell process, but also offers a whole lot of other services. Once people give all the property inputs online needed for rental document, Housing.com pays stamp duty on behalf of tenants and landlords and delivers the e-stamped rental agreement at their doorstep within 48 hours. This is not all; it also has an e-stamping calculator on its site that enables the users to calculate correct stamp duty. The complete rental process is managed by their in-house team and it charges a nominal fee of 75 rupees in addition to the cost of stamp paper and taxes.

Company Plans to Expand the Digital Rent Procedure in Other Cities

To begin with, Housing.com has launched the digital rent procedure in Bengaluru city. This is because the city has seen steep rise in the rental segment and most of the working population is tech savvy and prefers to transact online. However, in the coming months, the company plans to expand these services to cover 10 more Indian cities, including Mumbai, Pune, Chennai and Hyderabad. This is great news for people of these cities, especially considering the fact that more than 5 lakh homes go on rent in India every month. This would not only ease the entire renting process, but will also cut down on paper work and will save lot of time, energy as well as money.

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