New Delhi, January 05, 2017: The ever-growing needs of urban housing have paved way for plethora of builders in real estate. With such an increasing advent of projects, real estate has been the second largest contributor to the GDP of the country.
The genesis of MyOwnSpace began in July’2014 by two college friends Manasvi Singh and Mohit Bhambri ,IMT Ghaziabad and a BITS Pilani alumnus. Leaving the confines of their cushioned MNC jobs , they started a new chapter to bring transparency and accountability while buying your dream home.
“During the initial market research it was shocking to see that buying a house, being one of the biggest investments of an individual, lacked structured, unbiased and data backed research on decisioning.” as told by Mohit , who is a Civil Engineer from BITS Pilani.
The market is mostly unregulated which leaves the customers at the mercy of developers or uneducated brokers. We have seen in recent past that the sector is plagued with delays in possession, unfair one sided agreements and substandard construction quality.
Manasvi added “Almost 90% of the customers had no idea about the documentation to be verified before investing. They also had to rely on brokers who had little to no technical knowledge on construction standards. Add to that hidden charges and ambiguous escalation clauses in agreements and you have the perfect recipe to erode the wealth of an unaware customer.”
What troubles the sector is that the confidence of investor is shaken in new project launches and under construction properties. But that doesn’t change the fact that they will still be looking for a home in future and the real estate is posed for revival and bounce back esp. with RERA guidelines coming into force.
In line with its motto “Our Research: Your Decision”, MyOwnSpace created a huge differentiator in the market by developing tools and publishing research that served as an eye-opener. Data analytics , detailed study of masterplans and prospects for commercial establishments are used to make predictive models of appreciation in different investment hotspots.
MOS has an independent legal cell to scrutinize the mandatory documentation. Written guarantee on specifications is also ensured so that there are no changes in specifications. Apart from this, most importantly MOS ensures rented accommodation or EMI equivalent penalty to be paid by the builder in case of delay in possession.
MOS has served more than thousand homebuyers since last 2 years. With numbers came strength and enabled MOS to secure exclusive benefits and fair clauses from the builders. MOS stands at each step during the course and hand-holds the customer till he gets the keys of his home.
The mission of MyOwnSpace is to deliver value and transparency to empower each and every homebuyer in the country from the clutches of unscrupulous real estate transactions. The company is strongly marching to fulfil dreams of millions.
Corporate Comm India(CCI Newswire)
