Buying a house in India was never this simpler. There are a range of options in a wide price range in almost all the top Indian cities. Affordable housing is on the rise too as many established and esteem branded developers are also entering this segment. However, the latest development is expected to bring back mojo in the real estate segment.
What Is Housingforall.com?
NAREDCO, in partnership with CREDAI-MCHI, CII, FICCI, ASSOCHAM, Builders Association of India (BAI), and Indian Merchant Chambers (IMC), has launched a real estate-commerce portal on Jan. 15. The portal is named Housingforall.com and will be open for buyers from Feb. 14.
Coming from the umbrella of Narendra Modi government’s ‘housing for all’ and ‘Digital India’ initiatives, Housingforall.com is set to bring developers and buyers at the same platform where the latter can just browse and choose through a range of housing options, just like they do in other walks of life.
The idea of real estate e-portal was first proposed publicly by Minister of Housing and Urban Affairs (MoHUA) Hardeep Singh Puri on Nov. 4 at 1st National RERA Conclave in Lucknow. It was finally launched by Housing and Urban Affairs Secretary Durga Shanker Mishra and stated that e-portal has the potential of becoming “Amazon of Indian real estate.”
How to use Housingforall.com?
Housingforall.com is exceptionally user-friendly and easy to navigate. All you have to do is to click on this link and register yourself as buyer/developer at the homepage.
As for now, the portal is open to developers only to register their projects from Jan 14 to Feb 13. From Feb 14 onward, it will be open to home buyers as well who will be able to surf and browse through the housing inventory as uploaded by the developers.
The buyers will be able to view the listed properties but the actual transaction will begin from March 1 on ‘first come, first serve’ basis.
Features and Benefits Of Housingforall.com
- The portal will display the most accurate inventory data in the housing market across the top Indian cities.
- The buyer will be able to make itself aware of all the projects and properties available for sale in a particular price range in the desired location on a single platform.
- If a buyer chooses a property, he/she can reserve the same then and there by a token money of Rs. 25, 000 at the e-portal itself.
- The portal comes with a money back guarantee. It implies that if a buyer chooses not to purchase the selected unit, he/she can get the token money back as initial deposit made on portal is completely secured and fully refundable.
- The properties that can be listed on Housingforall.com are the ones that are completed and have received Occupancy Certificate.
- The e-portal has an add-on feature wherein the customer will be notified if a particular property that he has chosen is already sold.
Effects Of Housingforall.com On Real Estate Segment
Real estate segment has been witnessing a slump from past four years now. Inventories have piled up and so are the cases against developers for delayed deliveries in the consumer court. The buyers are more conscious and have started to lose trust in the developers, especially in the cases of under-construction properties.
With the launch of Housingforall.com, the trust is expected to return in the segment. Since the e-portal will list only completed and RERA-registered housing projects on the platform, there will be more transparency and credibility in the process.
As the popularity of the portal will grow and more and more developers will start listing their unsold completed housing units, accurate inventory data in a location will be available just a click away.