Ministry of Housing and Urban Affairs wants real estate portal for transaction to become ‘Amazon’ of the sector

Ministry of Housing and Urban Affairs wants real estate portal for transaction to become ‘Amazon’ of the sector

The Ministry of Housing and Urban Affairs wants the new portal for real estate transaction to become ‘Amazon’ of the sector. Durga Shanker Mishra, secretary with the ministry said that the e-commerce platform of the ministry will be trusted by the buyers.

The ministry hopes that it will bring the trust back in the real estate sector. “Just like the ‘Amazon’ is trusted, we want this portal to be one stop for all housing related requirement,” said Mishra.

The online platform is for projects that have received occupancy certificates (OCs). 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 period starting February 14, 2020.

“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. According to the industry reports, more than 1 lakh ready-to-move-in homes are available at present in the market and nearly 2.75 lakh new ready-to-move-in homes are expected to be added to the market over the next one year.

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