Bright Future for Indian Real Estate Consultancy
There was a time when real estate consultancy was nothing beyond
a word of mouth. In fact the whole concept of professional real
estate consultancy emerged some two and a half decades back,
when property dealers turned it into a commercial venture. And
today we can see real estate deals stepping into online
businesses.
One such development in this direction took place in September
'05 when an online property auction was held in Delhi. It was
organized by an international real estate consultant and was
country's first online auction. All activities were conducted
online starting from the bidding till announcement of the
highest bidder. The auction was open only for a particular time
limit, and within that limit the bidder had to log in to his
account with a unique username and password on a specific
website. However, the potential buyers were given a chance to
see the property before taking any decision.
Info Edge (I) Pvt.Ltd., the makers of Naukri.com and
Jeevansathi.com have recently launched there online real estate
portal 99acres.com for buying, selling and renting property in
India. 99acres.com was launched in August '05 and since then it
has been the fastest growing property portal of India with a
growth rate of 400%. It receives Indian and NRI traffic of 50000
a day that can access 100,000 residential and 10000 commercial
listings.
The real estate sector is also booming with advertisements
including both print and electronic media. Since the markets are
shifting from urban to sub-urban areas, big companies have
geared up to market themselves in those areas. This is one of
the major factors that have contributed to the increase in ad
spend that has grown by 39% in 2004. The expenditure was Rs.
151.9 crore in 2003 to 211.3 crore and this year it could be
even higher as Rs. 136.2 crore have already been spent in the
first half of the year.
Along with this India is also witnessing an investment boom in
housing, commercial and retail projects that will be mainly
routed through the FDI and real estate venture capital funds.
The FDI investments are expected to go up till 18% over the next
year (up from 10.6% in '04), the Venture Capital funds are also
expected to draw in as much as Rs. 5,400 crore over the year.
Recent surveys show that the investments in this sector have
risen due to the loosening of the FDI laws and permissions for
VC funds. According to AT Kearney's Global Investor Confidence
Survey '04, India has been ranked as the third most favoured
destination for FDI behind China and US.
On the other hand the National Housing and Habitat Policy, 2005,
has proposed for introduction of 'Title insurance' in the
country to put an end to fraudulent property transactions. This
insurance will provide protection against property whose title
is not clear. And this could gear up online property dealings as
people may find it more reliable when they will have concrete
laws and insurances to protect them.
To advertise, sell, search and buy property online, log on to
http://www.99acres.com
About 99acres.com
99acres.com is an internet portal dedicated to meet every aspect
of the consumer's needs in the real estate industry. It is a
forum where buyers, sellers and brokers can exchange
information, quickly, effectively and inexpensively. One of its
unique features is Property Alert through which you can get the
latest updates about new property or project listing on the
website. At 99acres, you can also advertise a property, search
for a property, browse through properties, build your own
property Microsite, and visit other Indian and International
websites.
For more information log on to www.99acres.com