Noida-based Superise.com vows to overcome the real estate fears of consumers by leveraging big data solutions
Founded in March 2015, Superise.com is the outcome of an unplanned meeting of five co-founders in a business conference, which was followed by a discussion on the changing landscape in the real estate industry and evolving tech ecosystem.
Aditya Parashar is the Founder and CEO, Anil Kumar is the Chief Marketing Officer, Ajay Chauhan is the Head of Engineering, Kaushik Guha Thakurta is the Chief Operating Officer and Partha Bardhan is the Chief Technology Officer.
They realised that while the number of online users were going up steadily and multiple technological innovations being made, very few were able to bring in real intelligence, real information, and near-human interaction.
Aditya Parashar, Founder and CEO, Superise.com, says “With the plethora of real estate companies assisting the consumers to connect with the developers, no one is really accountable towards what happens when the consumers buy a home, what if the broker cheat, what if you invest in the wrong property, the list is endless. With the technology advancement and implementation of big data in the ecosystem, real estate portal – superise.com, is helping the consumers to make informed and smart decisions.”
The genesis
Unlike other startups, seed capital was not a big challenge for Superise.com as it started with an initial capital of Rs 1.5 crore. Rather, they face difficulties in terms of developing solutions to address the real pain points of customers. However, the six months old startup has beaten all odds and managed to build a team of around 50 members from varied sectors like real estate, technology, and finance.
Superise.com recently launched its beta version with focus on Delhi NCR, and soon plans to expand into top 10 cities to maximise its service delivery outreach. It has already signed up with 20 leading developers across NCR and Bangalore.
Aditya says, “At present, we have 2000 visitors per day with 2.5 average page views, four-minute average duration, and 25 per cent repeat visits. We are doing 30 transactions a month on an average since our launch. We have a flat fee of Rs 19,999 which a customer has to pay online to book a unit and some additional fee which are typically negotiated with our developer partners.”
Fueling user experience
Noida-based Superise.com is a web 4.0 real estate tech company which builds search engine that will automate and personalise search. It will allow users to search a property based on a custom menu and select a property based on parameters which are backed by their proprietary data and analytics engine.
The startup also democratises information because they believe that real estate is perhaps the worst industry when it comes to transparency and democratic sharing of information with customers.
Kaushik Guhathakurta, COO, Superise.com says, “In most cases, prices published on a web portal or a newspaper are mistaken as real prices, which could be 20–25 per cent higher than what you originally thought it is. We empower our users with smart proprietary tools which increase customer experience and make it an integrated information-cum-transaction based web platform which is the USP of Superise.com.”
Superise.com enables users to search through thousands of property using simple keywords linked to locality, budget, EMI capacity or personal requirements and self-evaluate the actual potential of specific geographic locations.
Strategic tie-ups
Superise.com has tied up with Uber which will provide its riders a free pick up and drop to and from the project site. The user needs to download Uber App on their mobile phones and use the unique coupon code.
According to Kaushik, the business model of Superise.com not only helps the users to get the technology or information benefits but also get offline support from sales advisors who guide them through the transactions till the end.
The startup has also tied up with online payment aggregator PayUMoney. With this strategic tie-up, it can leverage the secure online payment infrastructure of PayUMoney and enables its users to gain one lakh PayUMoney points on every purchase made on Superise.com.
Bird’s eye of the real estate market
The Indian real estate market is expected to touch $180 billion by 2020 because the housing sector alone contributes five to six per cent to the country's gross domestic product (GDP).
In the last few months, the real estate sector has managed to raise $1.2 billion from private equity investors. The construction development sector in India has scooped up foreign direct investment of $24.1 billion during the period April 2000 to June 2015. Bengaluru-based online real portal Commonfloor has raised $12 million from Google Capital. SoftBank, Falcon Edge Capital, and a few others invested $90 million in Mumbai-based Housing.com.
Superise.com being a new entrant in this market has to emphasise more on strategising marketing policy to gain edge over others. As a part of its long-term growth vision, the startup will expand into other non-metro cities. It also plans to touch 100 transactions a month by early next year and grow by 50 per cent on month on month basis.