The Economic Times
12,180.3573.45
Stock Analysis, IPO, Mutual Funds, Bonds & More

Housing ministry launches e-commerce platform for real estate sector

Housing ministry launched an e-commerce platform to facilitate homebuyers in identifying genuine properties.

, ET Bureau|
Updated: Jan 15, 2020, 01.57 PM IST
0Comments
BCCL
real-estate-bccl
To bring the trust back in the real estate sector, housing ministry launched an e-commerce platform to facilitate homebuyers in identifying genuine properties.

The online platform is for projects that have received occupancy certificates (OCs) and is expected to create a seamless, safe and transparent home-buying experience for home buyers. The ministry official said that it will create positive sentiment for the real estate industry, boosting confidence and faith amongst home buyers, enhancement of liquidity flow in the industry and contributing to growth of the economy.

After the launch, the portal will be open for one month only for the real estate developers to register their projects following which the portal will be opened for home buyers with a 45-day sale peridot starting February 14, 2020.

The objective of e-commerce platform is to bring transparency in the sector and offer only certified projects.

“The sector has gone through turbulent times so far. With improving sales and a recovery that we have witnessed in the past year, it is time that the industry joins hands and helps the consumer quickly make a purchase decision.

The portal is designed for the all industry stakeholders with a powerful backend platform which manages and displays the most accurate inventory data in the market, and allows buyers to book their flats directly online,” said Niranjan Hiranandani, national president of National Real Estate Development Council (NAREDCO).

The portal ‘HousingForAll.Com’, will help buyers in accessing best priced inventory by builders for a limited time to take full advantage of best pricing. Buyers will be able to view complete listing info including floor plans, room dimensions, video tours of units and external views looking out from windows / balconies.

Buyers will also be able to directly book/reserve a unit from the portal with a refundable payment of only Rs 25,000. They will also get 'Money Back Guarantee', where their initial buyer deposit made on portal is completely secured and fully refundable in case buyer elects not to purchase the unit. Customers will be immediately notified if any units they have shortlisted are already sold.

“The rising levels of transparency and professionalism in the India’s real estate market has made it attractive for domestic as well as global investors. HousingForAll.Com is yet another effort in garnering support of today’s smart consumer, who wish to buy in quality projects. This way, developers have a platform, where homebuyers will have an option to buy from some of the finest projects of reputed developers,” said Rajeev Talwar, Chairman, NAREDCO.

Also Read

Fund house indulging in NAV management?

Protest, walkout in lower house

PNB shelves plan to sell housing finance unit

Retail, housing loans post strong growth in 2019

Eastern Group to enter affordable housing sector

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service