300 seems to be the magic number these days. And guess, who has achieved this milestone recently—the
real-estate market major
Magicbricks,
Google and Group M that is. They had recently organized an online sale by the name The Great Online Homes Festival (GOHF), and it had been a huge success. The organizers could manage to fetch over 500 bookings for properties via this sale and their total worth stands at Rs 300 crore.
The property fair which lasted for 10 days received more than 50 lakh visitors from across India. What surprised the organizers was the fact that new markets, apart from Delhi-NCR participated actively in the event. As per a report released by the organizing company,
Kolkata and Hyderabad are growing as new possibility for the real-estate sector. The response from these markets was at par with cities like Mumbai, Bangalore and Pune.
Magicbrics CEO Sudhir Pai in a statement said, "The successful conclusion of GOHF marks an important milestone for the
Indian real estate sector. We are overwhelmed by the record-breaking response from customers, which signals a paradigm shift in the customer psyche so far as the decision of online property purchase is concerned. Hopefully, the momentum generated by GOHF will impart the much-needed impetus for improved sales in the
real estate sector in the days ahead."
In addition to this, the fair received queries from across India, especially from the cities like Bhopal and Coimbatore in addition to Delhi NCR.
Nitin Bawankule, Industry Director,
Google India in a statement said, “Real estate purchase journey today begin on the Internet and over the last two years we have seen great traction amongst buyers willing to make purchases online for their dream homes. Success of Great Online House Festival by Magicbricks reiterates, that Internet can unlock the value by overcoming the inefficiencies in the offline model and offering rich, meaningful and immersive experience to real estate buyers on the Internet in both domestic tier 1, tier 2 cities and NRI audiences."
The online fair showcased properties available in different prices starting from Rs 15 lakh to Rs 2 crore with exclusive deals. While queries were generate across all price ranges, online bookings were primarily seen for those ranging between Rs 40 - 80 lakh.
Sachin Agarwal, Chairman & Managing Director
Maple Group said that he was extremely delighted with the response that he received from the GOHF. He said, "In a short span of 10 days we sold 40 flats and some more are in discussion for closure for the most upcoming areas of Wagholi Annexe & Chakan Taelgaon projects. We are very surprised that many buyers are from Delhi and Mumbai too, and glad that GOHF took our properties to a national level".
To maintain its leadership position in the market, Magicbricks has announced a slew of strategic measures in the last few months. Various initiatives such as a high-decibel Media campaign, including associate sponsorship in IPL, launch of new sections on the website such as Advice and Map Search, have all helped Magicbricks take a clear lead in its category.
Image: thinkstock
