Real estate portal Housing.com ties up with Tata Value Homes to sell affordable apartments
Tata Value Homes has already formed a similar alliance with Snapdeal and Google and launched an e-commerce portal to sell homes
Nov 25, 2014
Source : The Economic Times

 

BENGALURU: Real estate portal Housing.com has entered into an exclusive strategic partnership to sell apartments of affordable housing company Tata Value Homes on its website.

"We are targeting young professionals and facilitating a behavioural change to book flats online," said Advitiya Sharma, cofounder of Housing.com. "This is one of our first partnerships and we will tie-up with other companies too." Housing.com's technology team has developed a slice view 3D interactive platform to help people book their houses online.

Naspers-backed PayU will be the payment gateway for the transactions. According to Housing.com, only the down payment will be made online while the rest of the payment and legal processes will take place offline. Tata Value Homes has already formed a similar alliance with Snapdeal and Google and launched an e-commerce portal to sell homes. However, for the properties listed on Housing.com, the partnership is exclusive and marks Tata's first such tie-up.

"When we tied-up with Snapdeal, the focus was on reach. With Housing.com, we are looking at reach as well as leveraging their technology to create a better customer experience," said Pawan Sarda, head of marketing and project development at Tata Value Homes. The deal will not impact Tata's previous partnerships. While both Housing.com and Tata declined to comment on the business terms, Housing.com is expected to work on margins of about 2% on each sale.

According to a study conducted by Google, conducted by Google, 72% of customers research online before booking a house. "We are looking at changing customer behaviour and mak ing them make the purchase online too," Sharma said.

"This is a global trend that is also happening in India now, where more and more brick-and-mortar players are collaborating with the online companies," said Vineet Toshniwal, managing director of investment bank Equirus Capital. "This kind of a collaboration will bring more reliability, transparency and credibility to the transaction in terms of price benchmarking than, say, a broker since Housing.com has the bandwidth to offer large analytics." The global experience is that brokers and online services have been complementary to each other, where brokers list advertise their inventory online through these services and then help the buyers and sellers to complete the transaction, said Sunil Wattal, a professor at Temple University in the United States."The transparency of price also makes customers value such services. Potentially, this can reduce the importance of real estate brokers who earn their commission on the opacity of the market in terms of inventory and pricing," Wattal added.

It is estimated that the real estate market in the country will reach $180 billion (over Rs 11 lakh crore) by 2020. In just residential property, the top-eight Indian cities will see an additional demand of 2.8 million units in the next five years, according to property consultant Cushman & Wakefield. Japan's SoftBank last week invested $70 million for 30% stake in Housing.com, valuing the two-year-old startup at about $250 million. Housing.com's existing investors include Helion Ventures, Nexus and Qualcomm.

Latest Realty News

Draw for 25,000 DDA flats today, watch it live online
Nov 25, 2014
NEW DELHI: After a delay of 20 days, DDA will hold the draw for its 2014 housing scheme on Tuesday
Sebi prohibits two realty firms from raising funds
Nov 25, 2014
Mumbai: Clamping down on unauthorised real estate investment plans, Sebi barred two real estate companies as well as their directors from raising funds from public
News Corp invests Rs. 180 cr in realty portal PropTiger
Nov 25, 2014
Mumbai:New-York based media and information services firm News Corp has invested $30 million (Rs 180 crore) in real-estate marketing portal PropTiger.com
Review decision will hurt realty sector: Devendra Fadnavis
Nov 25, 2014
Mumbai: Chief minister Devendra Fadnavis' decision to review all major property development projects cleared during the last four to six months of the previous government has put the sector in a fix
India needs 25 million housing units, will touch 38 million by 2030
Nov 25, 2014
New Delhi: The EWS Housing scheme alone requires 23 million units, even as The Delhi Development Authority (DDA) has launched its biggest housing scheme
KCR: High-rises won’t violate green norms
Nov 24, 2014
HYDERABAD: Chief minister K Chandrasekhar Rao announced that the multi-storeyed buildings would be constructed on 40 locations spread over an area of 100 acres around the lake
Deputy CM strikes a dissenting note on land pooling
Nov 24, 2014
HYDERABAD: In a major embarrassment to Andhra Pradesh chief minister N Chandrababu Naidu, deputy chief minister K E Krishnamurthy raised objections to the land pooling policy for the new capital
CM moots new cluster policy, 20L city homes
Nov 24, 2014
MUMBAI: CM Devendra Fadnavis considers housing a top priority and wants to create 20 lakh new homes in MMR over five years
Housing societies wracked by graft, mismanagement
Nov 24, 2014
MUMBAI: Around 90% of nearly 70,000 housing societies in the Mumbai metro region have not submitted annual returns
BDA asks co-op body to honour its promise
Nov 24, 2014
BHUBANESWAR: Bhubaneswar Development Authority (BDA) has threatened action against state-owned Odisha Co-operative Housing Corporation (OCHC) for allegedly not providing free open space to residents of a housing project

Latest Realty News Of State

Realty Talk's