With so many ups and downs happening in all the sectors due to global economic slowdown, investments in Indian real estate is the hottest topic for discussion. This phase of slowdown is also witnessing mass developments in real estate sector. Everyone is touched by one of the aspects of selling, buying or renting property. Apparently, changes in behavior of consumers and financial firms can be seen with the changing trends in unprecedented times. Each one of us is generally involved in property related issues of investing, leasing or selling. Since it is difficult to take these decisions and there is some amount of risk involved, we mostly depend on property brokers and the prevalent word of mouth.
These tendencies are now facing a make over with the ever growing internet penetration and the constantly increasing internet users. With user base exceeding million, online property portals are set to revolutionize the real estate sector. Real estate portals in India introduce a completely new way of sending across property related information and transactions. The developed real estate markets abroad are accustomed to the concept of online portals but it is comparatively new for Indian sellers and buyers. Even as the popularity of these portals in India is growing, it is expected to burgeon in the coming years.
Validum Group Number of listings and conversions of both residential and commercial property is multiplying everyday. Moreover, the feedback of both buyers and sellers of real estate in India has been favorable. Online property portals are a platform for exchange of information relevant to property. They display residential and commercial property listings; buying, selling and renting options; other recommendations for property registrations, property loans, property laws, property news, etc. This newly developing trend of portals has made internet an acceptable as well as effective medium for real estate transactions. Both property sellers and property buyers find this medium highly cost effective, descriptive and extremely helpful.
The current times witness tenants and landlords interacting in a high tech way. The concepts of ‘automated transactions’ and ‘smart buildings’ is gaining popularity on this front. Apartment owners and commercial builders welcome automated rent payments, placing of work order requests online, display of facilities management, etc.Creating a system that blends bricks and clicks is instrumental in changing the face of Indian real estate sector. Internet connectivity and meeting of buyers and sellers online only further enthuses the property market.