Clicbrics to launch Clicworth, a real estate price calculator, in India
New Delhi (India), March 5: How many of us are guilty of checking the price of an item on google before buying it offline? Most of us. Especially if the merchandise can be categorized as luxurious or expensive. So why don’t we already do the same for a property?
We have tools to estimate the resale value of various luxury lifestyle items like cars, but India lacked a tool to do the same for property.
Clicworth is a home valuation tool designed to give you the same price leverage of the property you are interested in with 90% accuracy. Clicbrics’ mission to bring transparency to the Indian property market inspired Clicworth. An AI-powered tool that will allow consumers to access the fair price of any property you have an address for. This is Clicbrics’ investment in the future of Indian real estate.
The digitization mission led by the Government of India has put a lot of data regarding the registered properties online. This data is scattered across different portals. Technically, one could access these portals and wade through all of the data points room by room and spend hours trying to find relevant property price information.
Using AI and machine learning, Clicworth extracted all of this data and made this process as simple as a few steps. To find out the price of a property, all you need is the following information:
- Locality or address
- Type of property (apartment/ separate floor/ villa/ land)
- Apartment configuration (1BHK/ 2BHK/ 3BHK/ 4BHK/ 5+BHK)
- Apartment size (in square feet or square meters)
Clicworth will then give you a price estimate range as well as the best price per square meter for your property. Your price estimate will also be followed by an affordability calculator that will detail the base down payment, home loan EMI, home loan interest rate, and home loan term for you.
Clicworth is a free non-profit tool that the management of Clicbrics has piloted with the sole purpose of empowering the Indian real estate consumer. The tool uses government data from properties sold in the same locality to then generate the value of a property.
Starting in and including Mumbai, Clicworth is set to launch in seven major cities. These cities are Noida, Gurgaon, Pune, Hyderabad, Bangalore and Thane.
Clicworth is not just a tool for those who want to buy, sell or invest in a property. An individual’s net worth is largely influenced by the price of their property. Tangible assets like property, cars, high-value collectibles make up a large portion of the net worth of most middle-income households. In case you are curious about the net worth of a former teammate or a potential business partner, Clicworth can be your go-to tool for the same.
Clicworth is the first of many other initiatives that Clicbrics will undertake to promote transparency in the Indian property market.
The next time your real estate agent tells you that your dream home is slightly over your budget, just log on to Clicworth and find out for yourself.