Security and community management app, MyGate has launched ‘MyGate Homes’, a property search marketplace. MyGate has been launched to cater to the needs of buyers, sellers, landlords and tenants with a strong focus on transparency, accuracy of information, the company said.
Around 30% of the app audience, specifically tenants, move from one MyGate property to another after every 12 months. The communication platform on the app has mostly conversations about property, which indicates that the market, in both its digital and physical forms, still does not adequately cater to the needs of users. The company has set itself an aggressive target of 25,000 listings per month by December 2021.
Shreyans Daga, CTO and co-founder of MyGate said, “Property search remains a time-consuming struggle even online due to the number of information gaps. Being deeply embedded in the gated community ecosystem, we’re able to bridge many of these. We are able to provide buyers and tenants with all the information they need about a particular community to speed up their decision.”
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MyGate launched ‘Homes’ for 2,300 societies in June on its app in Bengaluru. Over the next three months, the company logged over 10,000 listings with over 40,000 connections taking place.In the most recent event, the company took the product live across the country, with listings moving over 10,000 in a brief period.