For marketing completed residential units, Housing and Urban Affairs Secretary Durga Shanker Mishra recently launched realtors’ body NAREDCO’s e-commerce platform. He said the portal has potential to become “Amazon of Indian real estate“.
This website is not for National Real Estate Development Council (NAREDCO) but for the buyers to scrutinize the properties and see what they are investing in, “Mishra said in his address after launching the portal. The portal ‘HousingForAll.com” would act as redressal system for consumers’ grievances, with credibility and transparency as two of its ethos.
NAREDCO formed under the aegis of Union Ministry of Housing and Urban Affairs, would only exhibit the completed RERA-registered projects on the site.
After the launch, the portal would be open for all the realtors to register their respective projects. Once done, the homebuyers would get a 45-day sale period starting from February 14.
Buyers will have an option to book an apartment or unit from the portal with a refundable payment of only Rs 25,000. In case buyer decides not to purchase the unit in the future, he/ she would get money back. Besides this, in case the units shortlisted by the customers are already sold, they would be notified about it.
ASSOCHAM, Builders Association of India (BAI), and Indian Merchant Chambers (IMC) are also partners in this initiative. Speaking at the event, K K Khandelwal, RERA Haryana Chairman said there are total of 13 lakh unsold housing units across the country and 4 lakh such units in major seven-eight cities. The portal can play a vital role and contribute to the growth of the real estate sector.
NAREDCO Chairman Rajeev Talwar said subvention scheme will benefit customers, so it should also be permitted again.