RoofandFloor had conceptualized TruePrice™ as an intelligent system that can analyse and compute potential charges that the buyer might incur while purchasing a property. The design is crafted such that it displays price details in an easy framework. Put simply, TruePrice™ is the all-inclusive price of a property. The TruePrice™ solution analyses pricing sheets shared by the builders and promoters and structures it into three broad standardize categories: Base Price, Builder Charges and Statutory & Legal Charges. This makes it easier for the buyer to get the all inclusive price of a new property.
TruePrice™ download milestone
Since its launch in June 2016, over 108,000 customers have downloaded TruePrice™ sheets – a true indicator of the tremendous interest in the proposition of creating transparency around property price. This is a huge milestone for TruePrice™ and for RoofandFloor as this proves that we have the right product in the market.
Gowri Shankar Nagarajan, CEO & Cofounder of RoofandFloor says,
“When we spoke to homebuyers 18 months back, many of them shared experiences of how they have liked a project only to figure out later that it is beyond their budget as there were lot of hidden costs which they did not know upfront. We launched TruePrice so that we can enable the trust and transparency on pricing for homebuyer upfront so that they can take an informed decision. More than 100K downloads have happened on TruePrice within 8 months of launch and that is great testimony to how much users value transparency in this space and we are proud of providing that value to homebuyers at RoofandFloor.”
Why did RoofandFloor launch this feature?
In our interactions with thousands of our customers, we found that there was a common frustration among them all. The lack of clarity in total price of a property – this was especially true of online realty portals as the price of property shown on websites was way off from the final quote provided by the builder. When we took at in-depth look at the issue of price, we found that sometimes the price discrepancy was almost as high as 30% off from the base price quoted. So buyers have just spent months planning their finances around what was actually the base price and when they are ready to begin transactions, they learn that they are way short of the actual total price. This can be quite heartbreaking for families who now have the added stress of trying to finance the rest.
TruePrice™ defines RoofandFloor focus on buyer
At RoofandFloor, we understand that a house is one of your most prized assets – one for which families put in almost all their savings for a home of their own. Hence, we know that financial planning is an important aspect of your home buying journey and buyers have based their entire financial planning lasting from months to 2 years around the base price. In such a scenario, the final price quoted by the builder, which could be as high as 30% more than the base price, can put incredible financial stress on a household. Of course, the buyer has now also lost the confidence and trust of the realty portal which they had referenced for their home buying journey.
How to use this feature?
On all property detail page, you can find a widget on Price section. Select the bedroom size and unit of preference, register and get the detailed quote.
RoofandFloor.com, part of The Hindu Group, stands for transparency and trust. RoofandFloor was founded with the vision to make the home buying experience smoother, educational and satisfying. RoofandFloor’s absolute emphasis on taking the side of the buyer is what differentiates us from the other players in the market. It is in pursuit of the happiness of a satisfactory home buying
experience, that we conceptualized TruePrice™ as a solution to establish better trust and relationship with our users, by addressing this issue at the outset.