Magicbricks unveils PropWorth; Offers instant property valuation for 50K projects
It is powered by an advanced machine learning algorithm to assist buyers and sellers evaluate the estimated price for any property
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Hyderabad: Magicbricks, India's leading real estate platform, has unveiled its instant property valuation tool, PropWorth. It is powered by an advanced machine learning algorithm to assist buyers and sellers evaluate the estimated price for any property. Trained on 15 years of data and over 30 million listings, PropWorth covers 50,000 projects in 5,500 localities across 30 cities, offering comprehensive valuations for various property types, including apartments, independent houses, and villas, a media release says.
According to Magicbricks, residential demand has surged by 23.8 per cent over the past three years, with property prices increasing by nearly 42.6 per cent 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 per cent.
Sudhir Pai, CEO Magicbricks, emphasised the significance of this launch: "In today's dynamic real estate market, accurate property valuation is more important than ever. PropWorth uses data-driven estimates to ensure quick and precise property valuation, eliminating guesswork. This clarity empowers buyers and sellers to make well-informed decisions confidently."
Empowered by sophisticated advanced machine learning systems, PropWorth as a tool analyses vast amounts of data efficiently and identifies key factors to generate reliable property value estimates.
Users can provide comprehensive property information such as the project or locality name, property type (flat or house/villa), number of bedrooms, super area, floor number, and car parking spaces. Additionally, users can share specific details including property direction (as per Vastu), view from the property (e.g., road, garden, pool), additional rooms, and amenities (e.g., clubhouse, swimming pool, lift, park, gym) to further enhance the accuracy of the property valuation.
Cities (in alphabetical order) Ahmedabad, Bangalore, Bhopal, Bhubaneswar, Chandigarh, Chennai, Faridabad, Ghaziabad, Goa, Greater Noida, Gurgaon, Guwahati, Hyderabad, Indore, Jaipur, Kolkata, Lucknow, Mohali, Mumbai, Nagpur, Navi Mumbai, Nashik, New Delhi, Noida, Patna, Pune, Ranchi, Surat, Thane, Vadodara, Vasai-Virar, Vijayawada, Visakhapatnam, Zirakpur.
