Online Property Sale
In the emerging scenario in the country's real estate segment, buying and selling property online is fast becoming a routine matter as major players waking up to the realty of the future business potentials it offers. Betting big on this medium is prominent real estate developer Tata Housing, which expects online deals to account for 30 % of its overall sales in the next three-to-five years. As in the past three months, Tata Housing and Tata Value Homes (a subsidiary which is into affordable homes) have sold over 400,000 sq ft through 450 apartments online with sales value of over Rs 350cr, senior vice-president (marketing and sales), A Harikesh, said, reiterating that compared with the offline mode, the online medium gives better target reach at lower cost and this is emerging as an exciting option to target non-resident Indians (NRIs) and high net worth individuals (HNIs). In fact, the increasing use of the Internet for property research is also a crucial factor and even Google has recently claimed that every year over eight million people search for real estate information online in India.