Internet: A Growth Driver of Indian Real Estate
October 9th, 2018
Leading business ideas to disruptive results, use of the internet has driven and sustained a whole new generation of innovation. Today, internet is an essential component of businesses across sectors, with increasing accessibility to even the most rural pockets of the country. Not only that, the internet has also drastically impacted the way we perceive development, including infrastructure and real estate.
Let us look at some of the ways that internet has impacted the real estate sector and the home buyers.
Ease of Transaction
Buying anything has become easy, convenient and hassle-free in the past decade with the rise of e-commerce sites. Similarly, transformation has occurred in the real estate sector as well. A few clicks on online property portals can assist home buyers in finding their dream homes, comparing rentals, researching on home loans and even home insurances. Besides, online listings assist in finding the right locality with amenities such as schools, hospitals or parks around the property. This helps save crucial time as one need not physically visit the place to be assured of these facilities. Further, one can access real time data along with images and routes using Google.
While assisting in finalising the right property, these portals are also easing the housing transaction by reducing paperwork. They are also creasing out discrepancies in the payment processes and, in turn, increasing customer satisfaction. And with access to the right banks and loans, home buyers are in control towards making their dreams become a reality.
Promoting Business, Generating Leads
Over the years, internet has revolutionised the way businesses function, including real estate. Social media platforms have become integral part of promoting and growing businesses. From pricing to discounts, deals and more, social media platforms have become a great place for developers to connect, network and promote. Real estate brokers are also making the best of this space by sharing their expertise and forging alliances with other agents from across the globe. Organically boosting up the best deals, this space acts as a catalyst for potential buyers and generates sales leads.
Virtual Becomes Reality
With the help of Virtual Reality (VR) and Augmented Reality (AR), a buyer can now completely immerse themselves in the buying process and live the experience of staying in a house through these technologies. VR enables buyers to see their prospective purchase without leaving their own homes. Should they choose to do so, AR lets them do amazing things like design their own house and interiors complete with furniture, colours and more. These interactive tools make buying a house more enjoyable.
Despite all the advantages of internet, property buyers must exercise caution while making a purchase online by trusting only the property portals – much like they would only trust reputed builders. Keeping this single rule in mind, one can still safely go ahead with house hunting, virtually.