Explaining Lifestyle Index

26 November of 2014

Housing.com is a real estate portal that has been designed to help end users find valid and effective information online when they are looking for houses. The portal has emerged with a fresh perspective towards online property business and has cemented its place as one of the best portals in the realty sector of India.

What sets housing.com apart from other property portals is its approach towards conducting business. While the competitor portals offer services that are backed by marketing, the services of housing.com are backed by statistical analysis, mathematics and computer programming. These tools have never been previously used in the property services sector. Housing.com has been able to successfully implement them and managed to create a pull demand in the market. The portal constantly utilizes these tools to keep ahead of information gaps and fill them as and when consumers encounter them.

The Unique Features of Housing.com

In order to facilitate property search, housing.com has introduced a number of features which help end users finding the properties or home loans of their choice. It must be pointed out that the portal is no longer restricted to home search. Due to the rise in demand, housing.com has tied up with some of the biggest names in the lending business and has also created a home loans section to help all buyers-who find properties using the portal-also be able to purchase them. Additionally, rental agreement services have been started in Bangalore. All such services make housing.com a single shop that caters to all property needs of end users.

But how does the portal offer such services so efficiently? The answer lies in the brains behind the portal. It is a venture of former IIT Mumbai students who immediately started working on the portal by the time they completed engineering. They had earlier realized that in their quest for homes in Mumbai, data analysis could come to good use. Housing.com was thus born.

The use of mathematical and statistical tools has allowed the portal to create an index called the Lifestyle Index. This is a number that shows how good a property is on a scale of 1 to 10 for living. The best part is that there is no human involvement in its calculation

The Efficacy of Lifestyle Index

The brains at housing.com identified the factors that mattered when one would judge the lifestyle offered by a property. These factors turned out to be quantifiable elements like the position of a house, the floor on which it is, its distance from numerous amenities etc. The data scientists at housing.com were able to create a formula to using the aforementioned factors to show a property in its true light.

For example sake, let us talk about the Hyderabad real estate. Amongst the numerous properties for sale in Hyderabad, some are new and some are old. Some are in the centre of the city while others are outside. The Lifestyle Index is calculated for each listed property separately. The answer is a number correct to 1 decimal place. It is interesting to notice that verified pictures of the property reflect the authenticity of the score, even if there is no relation between the two.

In Conclusion

With the use of mathematics and statistics, the housing.com portal has managed to create a structure in the form of Lifestyle Index that only takes into account the property traits and not any personal meets.

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