Project Rating is the new feature of RealtyCompass.com to enable home buyers to identify right choice. Project Rating comprises of 3 ratings (Builder Rating, Connectivity Rating, and Amenities Rating). By giving weightage of 40% to Builder rating, 40% to Accessibility Score, and 20% to Amenities Rating we arrive at Project Rating.
|1||Power back up, security, RO water, Piped gas||Basic Amenities|
|2||Gym, Swimming pool, Jogging track||Health amenities|
|3||Party hall, club house, Ampi theatre||Celebration Amenities|
|4||ATM, Market, Office space||Luxury amenities|
An amenity's rating covers basic, health, celebration and luxury amenities and give weight from luxury to basic in incremental manner.
The composite project rating tells the home buyer in terms of quality of builder, quality of living in the locality and extent of amenities in the project.
Builder rating has been calculated based on factors as below
|1||No of projects delivered by builder in the past||Credibility of Builder|
|2||No of units being developed by builder in the respective city (no of homes from all current projects)||Size of the builder in that city which matters to complete project on time.|
|3||% of inventory being sold in last 6 month||Acceptability by home buyers|
|4||% change in price /sq ft in last 6 months||Demand from home buyers|
|5||Spread of projects (No of current projects)||Lesser no of projects at given point of time, higher possibility of delivering on time|
Builder rating consists of past performance, size of builder, acceptability and demand from home buyers as well as concentration on projects at hand to deliver. So the rating covers holistic view of builder quality.
|1||Railway station||Connectivity to Rail transport|
|2||Main road||Access to daily need shops|
|3||Airport||Access to Airport|
|4||Metro Station, Bus Stops||Access to Public Transport|
Connectivity rating is based on score derived from the factors which determines better connectivity to public transport and it easily accessible by road
|1||Parks||Indication of Greenery, Air pollution|
|2||Lakes, Beaches, Ponds in vicinty||Beautiful setting, better water table|
|3||5 star hotels, Cafes||Lifestyle in the vicinity|
|4||Malls||Accessible for immediate needs|
Neighbourhood rating is based on score derived from the above factors which determines better quality of environment, access to malls & other lifestyle facilities.
Bargain means any product which is available cheaper than its fair market value. Real estate is not a transparent market place where information, terms are unequal among players. Different builders use different jargons to sell homes like rate per sq ft on carpet area, built up area, super built up area etc. Also amenities, specifications, possession are not the standard terms across all builders. Because of this home buyers are confused and end up in buying a wrong home without realizing its fair market value.
RealtyCompass.com's Bargain section is working on to decipher the jargons and is creating a standard rate per sq ft across all projects and hence it identifies projects which are lower than fair market value.
All of us want to buy best project for the given budget. Our bargain functionality finds out the project which lesser in rate per sq ft (for particular location and for every property type) for the rating.
You can identify deal from the above picture; projects coming below the line are deals. Any project which is lesser in rate per sq ft for given project rating is considered as deal.
Home Buyers can decide online which project to buy based on Bargain Feature.