Proptiger acquires 3DPhy to boost 3D capabilities

News Corp-backed realty portal PropTiger has acquired a Gurgaon-based startup 3DPhy, which is in the field of virtual and 3D visualisations.

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With this acquisition, PropTiger aims to advance its technological platform to further enhance hi-tech marketing solutions for developers, the portal said in a statement. PropTiger had last year acquired Bengaluru-based interactive technology firm OoBi. The latest acquisition would boost its 3D capabilities.

With its virtual walk-throughs, 3DPhy enables builders and brokers to showcase multiple properties over phones, laptops, tablets or head-mounted devices. PropTiger CEO Dhruv Agarwala said: “With mobile devices overtaking desktops, the real estate sector has become one of the prime sectors where people want to have the ability to search anywhere and anytime, and that is a big priority for us.”

By providing holistic, end-to-end technology and consulting solutions, he said the company intends to offer greater flexibility and choice and improved user experience to its customers. — PTI 

UP allows net banking to pay stamp duty on property 

Uttar Pradesh is all set to allow the use of net banking and debit cards to pay registration and stamp fees on property transactions.

A notification allowing people to directly transfer the fees into the state treasury has been issued by the Stamp and Registration department. 

“Security testing of the software is underway and the system of e-payments will be made available to the people from next week,” Principal Secretary (Stamp and Registration) Anil Kumar said.

For e-payment of a property, a user will have to log on to the department website, click on e-payment link and then choose the mode of payment.

The rates would be calculated as per the details of the property and communicated instantly to the person, and he or she can deposit the fees subsequently, an official said.

The new facility will allow people to avoid the hassle of queuing up at courts to first buy registration papers and stamps from the treasury and then to deposit the fees. 

The state cabinet, presided over by Chief Minister Akhilesh Yadav, had on August 8 approved the new system of paying the stamp and registration fees. 

Salarpuria, Apollo enter into real estate JV  

Salarpuria Sattva Group and Apollo Asia RE Singapore Pte Ltd ("Apollo Asia Fund") have entered into a joint venture to acquire 100 per cent stake from a group of offshore investors in two real estate projects in Bengaluru and at Vadodara.

The deal value is Rs 275 crore ($42 million), Salarpuria said in a statement.

It said Apollo Asia Fund's investment was made under the foreign direct investment guidelines.

“We plan to develop these projects as landmark residential developments in Bengaluru and Vadodara and look forward to partnering with Apollo Asia Fund in more Joint Ventures in the future,” Salarpuria Sattva Group MD Bijay Agarwal said.

With 18 million sq.ft of spaces completed, 17 million sq. ft under construction and 30 million more in stages of development and planning, the group plans to venture into  more cities in the near future.  — Agencies

Branding on metro station 

Realty portal magicbricks.com has announced acquisition of the station branding rights of Western Express Highway Metro Station, which will now be called ‘Magicbricks Western Express Highway (WEH)'. 

The station branding will be publicised inside the Metro, Metro route maps as well the station signages and advertisement units inside and outside the Metro station.

As part of this exercise, in the first phase, Magicbricks has put ticker boards, which will showcase property rates and trends of nearby localities and the city at large. Digital boards have also been installed, which will showcase the latest available properties and projects for the convenience of consumers. 

Soon, in the second phase, the company plans to make the station more interactive by introducing an experiential zone. Magicbricks will also allow builders to use this branding platform to reach out to their specific consumer base.

Mumbai Metro line has a total of 12 stations which connect Versova to Ghatkopar. Magicbricks WEH is at a strategic location between Andheri and Chakala which attracts maximum office commuters. 

Property fair in Chennai

CBRE will be organising  the third edition of  PropFair at Chennai from August 19 to 21 to help create a strong platform for the end consumer. The event, in its third year, is expected to host 20,000 to 25,000 potential buyers and over 80 developers and financial institutions, all under one roof to enable consumers to make an informed decision.

With over 45 million sq.ft. of housing sold over the last two-and-a- half years, Chennai has emerged as the preferred destination for the end user homebuyer in southern India. 

AS Sivaramkrishnan, Head-Residential Services, CBRE India said, “We are delighted that we have been able to provide one ideal destination for all consumer queries for the past two years, helping them realise the dream of owning a home in the city. With this event we want to provide integrated platform where the developers can showcase their product to the consumers and enable their purchasing decision through financial institutions.”