The National Real Estate Development Council (Naredco) on Tuesday announced the launch of India’s first e-commerce housing portal ‘HousingForAll.Com’, to give a boost to the ‘Housing for all’ and ‘Digital India’ initiatives.
The e-commerce housing portal — which was launched by Durga Shanker Mishra, Secretary, Ministry of Housing and Urban Affairs (MoHUA) — will host a 45-day all-India online home-buying festival for ready-to-move-in homes, with around 1,000 projects to be listed.
“It is a huge step for prospective homebuyers. While having a discussion with the stakeholders, I told them that credibility needs to be the most important factor in this portal. If a person is willing to buy a property then location, price should be exactly what is promised on the portal,” said Mishra.
Home is an asset which is bought not only for 3-4 years, but for generations to come. It is not about making an investment, but is directly connected to one’s life, he added.
According to 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. The council expects this entire ready-to-move-in inventory to be available on sale through Naredco’s e-commerce platform.
The initiative to come up with an e-commerce platform was proposed and announced by Hardeep Puri, Minister of State (Independent Charge), MoHUA during the first National RERA Conclave held in Lucknow last November.
During the event, the ‘Real Estate Sentiment Index Q4 2019’ was also launched by Knight Frank–FICCI–NAREDCO. The objective of the index is to show the current sentiment of real estate stakeholders in India.
According to the survey, sentiment stood at 53, which falls under the optimistic zone. A score of over 50 signifies ‘optimism’ in sentiment, a score of 50 means that the sentiment is ‘Same’ or ‘Neutral’, while a score of below 50 shows ‘Pessimism’.