INTERNET MAKES PROPERTY BUYERS’ DECISION MORE LOGICAL, TRANSPARENT AND INFORMED,

INTERNET INTERNATIONALISES PROPERTY MARKET
INTERNET FINALLY COMING OF AGE AS AN EFFICIENT MEDIUM OF REAL ESTATE BUSINESS
PROPERTY BUSINESS ON INTERNET REGISTERS 100% ANNUAL GROWTH

Internet is finally coming of age as a meaningful and efficient medium of real estate business. Initially it was considered to be a source of research only where prospective buyers could compare prices and have a feel of layouts and locations. But during the past three years scenario has completely changed.

While many may still believe that online property buying is not as common as purchasing books, clothes or electronic items but real estate Companies hold a more optimistic view. They claim that there has been indeed an uptick in web transactions for sure. Though as compared to overall real estate business, the share of online property business is not much. As per available estimates, the share of online market was only 0.5 per cent two-three years back but now it has jumped to 3 per cent, thereby registering an impressive growth of more than 100% per year.

According to Google India, the volume of real estate-related queries is growing at the rate of 35 per cent per year. Out of this, nearly 50 per cent queries are made with intent of a purchase. Notably, 30 per cent of these searches come from mobile phones. While 18 per cent of the queries are for rent, eight per cent each for real estate builders and brokers.

According to available industry estimates, people in the age group of 30-45 years do most searches and property price varies from Rs 50 lakh to Rs 1 crore.

All the data and growth charts apart, if you use any property portal, you will soon realize that internet has emerged as a major connectivity tool not only for buyers but also for real estate agents and builders. It has, in true sense internationalized the property business. Now national and international properties are available at a click of mouse. You can buy property in any part of the world sitting in the comfort of your home, that too with all the information about their location, size, layout, surroundings, connectivity and other facilities.

But the million dollar question is how you can use internet to buy property? There are basically two ways. Firstly all the major builders and real estate agents have developed their own websites. Big builders even launch separate websites for separate projects. Secondly there are property portals.

If you are planning to buy any particular property from a particular builder then you can log onto their website to get required information. Contact details of the builder are given on the website. You can make a call at the given numbers to get the information. If that is not possible, you should leave your contact details in the given column since all the websites ask for prospective buyer’s phone number and email id. Once you are done, wait for some time, the representative of the builder will call you sooner or later.
The second option is to buy property through some property portal.

Here, besides builders’ details, you will get contact details of the underwriters or property agents/ consultants also through whom builders sell their property.

We will suggest that you contact both, builder as well as underwriter because at times builder offers non-negotiable rigid terms and conditions whereas underwriter offers some discount as he has to meet the target.

Another advantage of property portals is that they offer comparison which builders don’t. When you log onto a property portal, they ask you some basic questions like your budget, preferred location, type of property like commercial, residential, plot, flat etc.
Once you fill the details, you get the list of all the properties in the desired area with asking price. It offers you multiple options and makes your decision making process more logical, transparent and well informed. It is advised that you visit two - three property portals at a time because all the property agents/ consultants don’t use just one portal.
Therefore visiting multiple portals will widen your choice and will give you more comprehensive picture.

One very important aspect of property portals is that they offer direct outlet to individual property owners also, which means you can now negotiate with the owner directly and save property agent’s commission too.

These days property portals have diversified their functions. They not only provide platform to builders and agents to buy/ sell or advertise their property, they organize property festivals also to bring all the parties together and make their interaction more meaningful and realistic. Some property portals carry educational blogs also for their followers. Once you subscribe to them, they send their educational and other materials regularly to your e-mail account.

But remember, these portals are not meant for just buying or selling property they are used for renting out properties too.
These days property business has moved ahead of just builders’ websites or property portals. Builders and property sellers are using all possible on-line means to reach buyers like facebook, google, youtube, news websites etc.

Some of the prominent property portals are listed here for your benefit:

Magicbricks.com is considered as the number one real estate website in India as it gets maximum number of visitors. They cover entire India. Individual owners, builders and agents can list their properties here for buying, selling or renting.

99acres.com by Infoedge is a real estate public portal which provides owners, brokers and builders facility to post their properties for various purposes.

CommonFloor.com is India’s No.1 Apartment Portal. You can buy, sell or rent your apartment or house here. It is a place where you get all old and new properties and society wise details of old apartments. In short CommonFloor.com is dedicated to apartments and gated communities.

Allcheckdeals.com is a leading residential player for property in India. It covers all builder projects across India. It gives complete information and booking facility for on-going projects, completed projects and upcoming properties.

Proptiger a place where you can buy, sell or rent property in India. It is one of the real estate property portals that offers information on residential builder projects and helps you get best deals.

IndiaProperty.com, as the name implies, is India’s leading property portal for residential and commercial properties and land units.

Groffr.com is one of the India’s group buying property portal. You can avail best property deals here.
Igotmydeal is another group buying web portal which offers discounts on group booking. It covers luxury properties, pre-leased properties, hotels and resorts, commercial offices and residential apartments.

StampDutyRegistration.com is India’s complete real estate web portal. It includes all real estate professionals in India like vaastu consultants, property lawyers, real estate agents, home loan professional, interior designers, stamp duty agents and many more.

PropertyOkPlease.com is a real estate portal only for builder projects across India. It also helps you to avail the home loan from the major loan providers in India.

ReadyReckoner.in is not a property portal but it gives complete information on real estate legalities like CTS numbers, stamp duty value, legal documentation etc.

Sulekha.com acts as a free classified website and property portal. It is a good place for resale and rental options.

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