Approximately a decade ago, people never thought about going online for their shopping requirements. The physically stepping out for shopping has been replaced by sitting in front of device which could be a desktop, laptop or mobile phones. In this modern world, every business sector is hit by the wave of digitization. The impact is visible on real estate sector as well where site visits has been replaced by virtual tours of any project site. Here we are not discussing about real estate portals which were being used for searching properties only. Now, real estate developers have moved on to tie-up with e-commerce portals for actual sale of homes just like other items.
In fact, the early seeds of digitization in the sector have been sown by the various government housing departments itself. For example, several municipal corporations have launched their websites wherein one can pay their property taxes and also get information about the status of payment. Several authorities such as Delhi Development Authority, Noida Authority, etc. have also launched their housing schemes online where booking can be done itself. The most recent that is visible in real estate market is that of developers tying up with online portals for online exhibitions of property where customer gets a benefit of cash discounts, prizes, customized payment plans and offers on home loans.
With online portals like HDFC Red to bump up their sales, developers like Supertech have already made alliance to participate in the online exhibition of real estate which took place few days back. Supertech and other builders have witnessed the huge response from customers during the exhibition. It is expected that online medium will emerge as one of the fastest growing channels for real estate sales. It has been seen that crowd coming from online medium is increasing day by day thus giving a ray of hope in this slowing down market.
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