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The growing business of advertising real estate
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Estimates suggest the real estate advertising as a Rs.1,500-crore business.
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A decade back, the role of ‘middlemen’ in traditional Indian marriages was of utmost importance. These days, marriage websites hold the sway.
This analogy is fitting enough to describe the future of portals in the country which are entirely dedicated to advertising real estate. Websites are being launched thick and fast, eager to share the profits from real estate gravy train.
Estimates suggest the real estate advertising in the country as Rs.1,500 crore business and everybody is in a hurry to grab a share of it.
By last count, there are 43 websites that are actively dedicated to real estate, out of which only four to five are national players.
Catching-up
Analysts familiar with the industry do not bat an eyelid while claiming that it’s a matter of time before the real estate websites dominate traditional methods of ‘brokering’ a property deal.
Such websites are also fast catching-up with Non-Resident Indians, who are always on the look out to invest in the sector.
Like the applicants compelling matrimonial websites to hold ‘Swayamvaram’ to have personal interactions, so have the large real estate clientele forcing websites to organise exhibitions to display their ventures.
“Real estate websites are still in the nascent stage with a total share of just Rs.30 crore. But in the coming years, this particular sector is projected to increase by 150 to 200 per cent every year.
They are like any job or matrimonial sites capable of providing information and frequently updating the users about new ventures,” says Business Head of ‘makaan.com’, Aditya Verma.
In a free-wheeling interaction with The Hindu, Mr. Verma also pointed out that Hyderabad and Kochi have become the fast-emerging markets in the sector.
“In South, after the real-estate boom in Bangalore, it is Hyderabad and Kochi which are in huge demand. It is the buying power of IT and ITES professionals which is fuelling this huge boom in Hyderabad,” Mr. Verma says. The website ‘makaan.com’ has its presence in Kochi too.
M. SAI GOPAL
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Property Plus
Bangalore
Chennai
Hyderabad
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Thiruvananthapuram
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