In Conversation With… Nilesh Shingote, Co-founder, PropChekcup
Can you please help us know your professional background?
PropCheckup is started by my elder brother Nitin Shingote and me.
Nitin is a civil engineer by profession with 12+ years of experience in real estate industry.
I have done the MBA in finance and worked as Investment banker before starting this entrepreneur journey.
Can you please tell us about your venture ‘PropCheckup’?
PropCheckup is India’s first home inspection startup and a founding member of Home Inspection Association of India (HIA). PropCheckup provides home inspection services in Mumbai, Pune, Navi Mumbai and other parts of India. PropCheckup inspects 100+ property checkpoints and provides a detailed home inspection report which snags hidden and unnoticed issues like seepage, electrical faults, water leakage, wall dampening, carpet areas shortage and plumbing issues.
PropCheckup helps homebuyers to rectify all the issues free of cost before new home possession. Under RERA 5 years warranty clause, Developers has to rectify all the issues without any additional cost within 30 days from homebuyers notice.
PropCheckup has inspected 5,00,000+ Sq. Ft area including carpet area measurement and served customer from luxury apartments like Lodha New Cuffe Parade, Adani Western Heights, Godrej Infinity, Kanakia Paris (BKC), Thakur Complex, River Residency, Kalpataru Crest, Lodha Splendora and many more. PropCheckup also provides carpet area measurement services as per RERA. PropCheckup protects home buyers from the shortage of carpet area and property frauds.
What is the problem you are trying to solve with your venture?
Home buying is exciting, momentous and the single largest investment for most people. But it can be stressful – especially when selling parties cheat the real estate buyer. They can provide less carpet area (eg. 380 sq. ft. instead of 400 sq. ft.). When someone buys a home, they’re also buying all of its problems – water leakages, moisture on walls, unsafe wiring/electrical work and defects in plumbing, roof, floor surfaces and paint, windows and doors, problems with the foundation and dry rot. Most people are not sure how to gauge the physical condition of a house.
That’s where the experts at PropCheckup come in. While the real estate buyer focuses on the home’s style, price and neighborhood, we take care of evaluating carpet area and major systems – like the state of plumbing, electrical, walls, roof, floor surfaces, paint, windows and doors. Then we provide our client with a written report to make the best buying decision possible. PropCheckup gives the unbiased, professional opinion you need, when you need it most.
What is your revenue model?
We charge customer for home inspection visit.
How do you think the industry niche in which your business operates has evolved over time? In what direction do you see the industry moving in the future?
As India’s First Home Inspection startup/company, we have seen the phase of increasing awareness about Inspection services. We have started our journey in 2012 when there was no awareness about home inspection industry but now home inspection awareness is increasing day by day.
In coming years, majority homebuyers will opting for Home Inspection services while dealing in the real estate market.
What impact did covid-19 pandemic have on your business? How do you plan to overcome it?
Our operation was completely shut for 5 months due to lockdown. During this pandemic time, we were working on strategy and our future plans.
How do you motivate yourself to bounce back when faced with any failure or a setback?
I believe whatever happens happens for the best. I don’t consider failure as setback, I believe its training to face the upcoming challenges.
*All views are that of the interviewee. UdyamGyan does not promote or endorse any claims.