Developers Turn to the Digital Mode for the Launches and Sales
Mar 31, 2020 Real Estate News
Amidst the outbreak of COVID- 19, the homebuyers and potential investors cannot go out and visit the place personally. Keeping this in mind and for the convenience of the buyers, the real estate developers are now marketing their new launches on the digital platforms.
Big developers like Godrej Properties, Prestige Group, and Total Environment Building Systems have launched the digital tours of their sites. The online platform also allows the home buyers to buy the properties online as well as do all the documentation and verification can be done online.
Potential buyers are hesitant to come out of their house and visit the properties personally and the brokers are now closing the deals through video conferencing and giving them tours through WhatsApp.
Developers are sceptical for their new launches as with the festive season being just around the corner and the country currently facing a lockdown, the sales during these times are expected to below. Few projects have already gone through the soft launch stage and the developers have already spent a fair amount of marketing and they are supposed to be exceptions. Developers and realtors are in a wait and watch mode. The developers who have the financial obligation have no option but to venture into the market and try digital sales during this time. It is expected that this trend will continue throughout the summer season.
Government’s advice to reduce social activities is surely going to impact sales. The digital sales are expected to give the developers confidence to help revive the sector along with reduced home loan rates and reduction in stamp duty.
Some developers had already planned the physical launch of their projects with their channel partners and brokers. But now due to the COVID-19 situation, digital launch and sales is the only option left. The homebuyers can make online enquiries and request to the developer regarding the prices and facilities offered. The developers are also aiming to provide slots to the customer to visit the unit in person. This will help in reducing the number of people gathering to personally visit the site.
The sales in the last two quarters have been increased and the home buyers have formed a trust with the developers. Tier I and Tier II cities have witnessed 3 percent and 5 percent growth in sales and 27 cities have witnessed an increase in the sales in the quarter that ended in December.
Big developers like Godrej Properties, Prestige Group, and Total Environment Building Systems have launched the digital tours of their sites. The online platform also allows the home buyers to buy the properties online as well as do all the documentation and verification can be done online.
Potential buyers are hesitant to come out of their house and visit the properties personally and the brokers are now closing the deals through video conferencing and giving them tours through WhatsApp.
Developers are sceptical for their new launches as with the festive season being just around the corner and the country currently facing a lockdown, the sales during these times are expected to below. Few projects have already gone through the soft launch stage and the developers have already spent a fair amount of marketing and they are supposed to be exceptions. Developers and realtors are in a wait and watch mode. The developers who have the financial obligation have no option but to venture into the market and try digital sales during this time. It is expected that this trend will continue throughout the summer season.
Government’s advice to reduce social activities is surely going to impact sales. The digital sales are expected to give the developers confidence to help revive the sector along with reduced home loan rates and reduction in stamp duty.
Some developers had already planned the physical launch of their projects with their channel partners and brokers. But now due to the COVID-19 situation, digital launch and sales is the only option left. The homebuyers can make online enquiries and request to the developer regarding the prices and facilities offered. The developers are also aiming to provide slots to the customer to visit the unit in person. This will help in reducing the number of people gathering to personally visit the site.
The sales in the last two quarters have been increased and the home buyers have formed a trust with the developers. Tier I and Tier II cities have witnessed 3 percent and 5 percent growth in sales and 27 cities have witnessed an increase in the sales in the quarter that ended in December.
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