GOSF: Developers go as low as Rs 299 to sell homes

Google’s Great Online Shopping Festival (GOSF) is almost coming to an end and this time also it was not just clothing and accessories which took over the festive mood but much more than that. For the second time in a row, property options got visibility in the year’s biggest online sale, marking the beginning of a new era where real estate actual transactions went online.

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Moreover, these were not new builders who tried to capture the buyer’s attention through online visibility, but some prominent names in the construction industry. They have promised quality and have a good track record and wanted to expand their access to serious buyers by offering them ‘hard-to-resist’ deals.

Not only did they keep the booking amount as low as Rs 299, but also gave leisure time of 45 days for complete documentation or else they promised to refund the entire amount. Post the festival, the entire payment plan will be linked to the various stages of construction or to possession.

It is not that only luxury projects are being showcased here, affordable housing project in Boisar, near Mumbai, senior living homes in Bhiwadi and Lavasa and mid-range projects in Chennai, Bengaluru, Coimbatore and Kochi are also up for sale at discounted prices.

Interestingly, none of them offered virtual tours of ‘look-alike’ or sample apartments but made sure that the payment schemes are transparent, location advantages are highlighted and all the specifications are explained elaborately.

Our opinion

Despite the ‘ifs’ and ‘buts’, builders are talking about their successful stint in the online shopping festival. Although, this has given a new makeover to innovative marketing in the real estate sector, but is fetching transactions only if the deal is genuine.

This is also a new approach to tap young home buyers as they spend maximum time browsing the internet and e-commerce companies, which increases the visibility of real estate category among  the serious buyers.

“Real estate developers are warming up to the premise that the digital medium has come of age and that online portals in particular, have developed the scale to exceed the reach of traditional media. There is realisation that serious property seekers are active online and if there is a genuine deal offered, then a fair number of transactions could be concluded. As Magicbricks, we are currently in the midst of a very successful exclusive launch for Salarpuria in Bengaluru and we hope that developers will leverage and utilise the full potential of the online medium,” says Sudhir Pai, business head, Magicbricks.com.

With this, it can be concluded that ultimately it’s the builders’ will and genuineness that can drive serious users to them and not just ‘out-of-the-box’ ideas for selling inventory.

Source: http://content.magicbricks.com/industry-news/gosf-developers-go-as-low-as-rs-299-to-sell-homes/79702.html