Unlock Accurate Property Valuation with Magicbricks' PropWorth
Get instant and accurate property valuations with Magicbricks' PropWorth, covering 50,000 projects in 30 cities, including Mumbai, Pune, and Nagpur.
Property ValuationMachine LearningReal EstateMagicbricksPropworthReal Estate MumbaiJul 10, 2024
Trained on 15 years of data and over 30 million listings, PropWorth covers 50,000 projects in 5,500 localities across 30 cities, including Mumbai, Pune, and Nagpur. This extensive coverage provides comprehensive valuations for various property types, such as apartments, independent houses, and villas.
As per Magicbricks, residential demand has surged by 23.8% over the past three years, with property prices increasing by nearly 42.6% across major cities. In this context, PropWorth is a game-changing tool that empowers homeowners to assess their property values, delivering an impressive accuracy rate of 98%.
Magicbricks CEO, Sudhir Pai, emphasized the significance of this launch, stating,
Frequently Asked Questions
What is PropWorth?
PropWorth is an advanced property valuation tool powered by machine learning algorithms, providing accurate property valuations for buyers and sellers.
How does PropWorth work?
PropWorth uses a combination of owner-provided price inputs, on-ground data from agents, and Magicbricks' extensive property listings to provide accurate property valuations.
What is the accuracy rate of PropWorth?
PropWorth has an impressive accuracy rate of 98%, making it a reliable tool for property valuation.
What are the benefits of using PropWorth?
PropWorth empowers buyers and sellers to make well-informed decisions confidently, eliminating guesswork in property valuation.
How does PropWorth differ from traditional property valuation methods?
PropWorth uses data-driven estimates and machine learning algorithms, providing a more accurate and efficient property valuation process compared to traditional methods.
Related News Articles
Global Cold Rolled Coil Market Experiences Price Hikes Amid Regional Hurdles
Despite regional challenges, the global cold rolled coil market is witnessing a significant price increase. This trend is being driven by a combination of factors, including real estate incentives, lower mortgage rates, and relaxed property buying rules,
Jaisi Abraham's Death Ruled as Murder: Shocking Post-Mortem Report
KOCHI: Jaisi Abraham, a prominent businesswoman in the real estate sector, was found dead recently. The post-mortem report has now revealed that her death was indeed a murder, prompting the police to intensify their investigation into potential disputes r
House of Hiranandani to Pump Rs 12,500 Crore into Mumbai Real Estate
The renowned realty firm, House of Hiranandani, is set to invest a significant amount of Rs 12,500 crore in the bustling city of Mumbai. The investment will focus on a 25-acre land parcel in the prestigious Hiranandani Estate, Thane, where the company is
SEBI Reduces Lock-in Period for REIT Sponsor Units to 15%
The Securities and Exchange Board of India (SEBI) has announced a reduction in the lock-in period for units allotted to sponsors of Real Estate Investment Trusts (REITs) to 15%, down from the previous requirement. This move aims to enhance liquidity and attract more investors to the REIT market.
Private Equity Investment in Indian Real Estate Surges 32% to $4.15 Billion
In 2024, private equity (PE) investments in the Indian real estate sector, particularly in the residential market, witnessed a significant surge, more than doubling to $1.177 billion.
Real Estate Sales Growth Levels Off Amid Affordable Housing Focus
The real estate sector's sales growth has plateaued after a strong run, with the government's continued emphasis on affordable housing, particularly through the PMAY-Urban scheme, driving significant allocations.