If you have only heard of searching internet sites for houses under rent or for sale, check again; because you can literally by a house online these days. Technology has improved considerably and thereby helping you to complete your deals faster and with just a click of the mouse. Previously it was the practice to look out for floor plans and prices of houses. However, now builders have widened the scope for you to purchase your dream house online itself. As the e-commerce businesses are doing so well without any hassles. Real estate businesses have also decided to give it a try and some have been successful as well.
There are many companies who have been successful and they are Lodha group in Mumbai, Tata value homes, to name a few. They are having online house melas/campaigns for short periods and have been successful. Online space offers people the potential to advertise online, do the marketing, providing basic information, booking and sales, etc. Around 70 to 80 % of the search for homes generally takes place online. The NRIs are also very comfortable with searching for homes and buying them online. There are a few banks that have tied up with housing companies like the Tata housing company and are facilitating the real estate people and the investors to buy properties online.
A buyer can take a look at the different properties displayed online and then narrow down to the one he prefers to buy. Then he will have to pay an advance online booking amount and the plot/land will be allotted to him. Furthermore, the buyer will be able to pay the rest of the charges and complete the remaining formalities online or offline. However, the buyers have to very careful while deciding on the house they wish to buy, before completing the formalities, as the amount once paid will not be refundable. This is one of the factors you will have to consider before purchasing online.
Although buying homes online is just at its budding stage, some real estate companies have seen the benefits and profits of doing business online. Recently there is an upward trend of buying homes online.
The Real estate companies feel that buying a home online has several advantages. The buyers will not only get to see properties, find out the value of the homes and the asking price, but they can also look for houses in the neighbourhood or area they prefer.
According to a survey done by Google India, most of the decisions taken to buy properties are influenced by internet research and the search for houses online is not only coming from the metro cities but also from tier II cities.
These days builders are forthcoming in providing more information online, which becomes very easy for the buyers who research the net for properties. One of the real estate companies have gone so far as to fix CCTV cameras in their project sites, which gives access to the customers to have a real time view, progress and updates of the buildings online.
As the quality information provided on the websites is increasing, the online real estate business is expected to grow substantially in the next 5 to 6 years time.