The global real estate secondary market is expected to reach a value of over $7,227 billion in 2022. Chiragh.com, is poised to revolutionize the way investors engage in real estate negotiations and conduct transaction within an ecosystem which will be a game-changer in cross-border end-to-end property transactions.
Mohd Hussaini is the founder of Chiragh.com, the “world’s first distributed ledger-powered property marketplace platform” that empowers property owners, investors, developers, property brokers, regulators, and financial institutions to connect, interact, monitor, analyze and transact directly in a simple, smart, cost effective and secure way. Designed to create shared, immutable, transparent, and trusted transactions using data-driven and distributed ledger-based technologies. The platform is based on the “agent cooperation network” (ACN) model developed in collaboration with market participants, providing the property sector a transactional platform to expand the market visibility of listings, promote authenticity and decrease deal closure durations as well as participation costs.
Chiragh.com ensures that the right investors, see the right property listings, at the right time for better conversions through the power of Artificial Intelligence (AI) based solutions. The platform achieves “Price Discovery” by conducting negotiation processes on a digital auction driven methodology.
The platform brings accurate, authenticated, and verified listings to customers through a comprehensive pre- listing process of due diligence, conducted by independent verification and valuation agencies. Investors will get better ROI on their transactions by making more informed decisions using machine learning based market insights. This algorithmic based analysis enables better real estate deals, leading to smarter investments. Furthermore, the platform enables sellers to showcase 360 panoramic images of multiple properties to buyers in real-time through its Virtual Tour. Potential buyers can view the entire property via a Virtual Reality (VR) headset to experience an immersive three-dimensional (3D) tour from the comfort of their own homes. The virtual tour enhances customer interactions and digitalizes the processes to increase conversions.
Property investors can decide the terms using a smart digital negotiations contract that comprises “Buy now” or “Bid now” pricing, financing, size of down payment in cash, length of escrow, compliance, as well as inspection details. With chiragh platform brokers and sellers will tap into a digital platform that makes it easy to list assets and get real-time insights to sell at the best prices with no physical intermediation. The platform also makes transactions easier through its multi-currency eWallet which enables users to participate in over 20 currencies, while avoiding cross-border participation costs.
Chiragh.com’s objective is to create an owner-investors-tenant-vendors exchange, where speed and cross- border participation is the key to promote “Price Discovery” and “Digital Liquidity” in the real estate market. The platform aims to facilitate transparent pricing, open negotiations, and deal closures through a digital proptech infrastructure. By redefining traditional real estate methods of buying, selling, renting, monitoring and other services, Chiragh.com envisions to create a “Digital Property Marketplace”.