Indian real estate portals – A user guide

The real estate market is a dynamic realm where there are new developments every day, keeping the business very active and alive at any given time. People are always on the lookout for properties to buy, sell, lease or rent, and it is essential to be informed and aware of the current state of the market to get yourself a good deal.

Currently, the real estate market in the Indian context is largely driven by middlemen, with a fair share of it concentrated offline than online. Figures show that in the United States, almost 80% of the people rely on online searches for property and investment related queries. Although the number of people using phone and Internet has grown dramatically, property transactions and searches are far too low in the digital realm due to various reasons. India still relies heavily on real estate brokers in this regard.

Although brokers and intermediaries have their own merits, online real estate portals can do away with most of the bothersome demerits that they possess. In the last five years, there has been an influx of online real estate portals that have shaken up the real estate scene. Online portals make things a lot easier and convenient to evaluate the property without having to deal with the middlemen. It also gives you more choices than you had considered. Let us guide you briefly on how to navigate through an online real estate portal.

The most happening sites

Although real estate sites sprouted at a slow pace initially, there are many prominent ones that you can’t miss out. Let’s go through some of the sites that are trending in India’s real estate scene. Makaan, MagicBricks, 99acres, India property, Property bazaar etc. are some of the most popular sites that are first to appear on your search screen today. These sites are laden with information and deals on properties that are currently in the market. They provide an opportunity for you to browse through properties suitable for your budget, in the area of your choice, from the comfort of your home.

Your goals

Different people have different reasons to browse real estate sites. If you are looking to buy a place, you can look at options like 1BHK, 2BHK or 3BHK. You can browse the different localities and get to know about the latest amenities available in the market. If your purpose is to get a place on rent, it works the same way here too.  These sites are excellent tools that can help you compare the prices in the region of your choice, and provide you with a reasonable estimate to keep at the back of your head when talking directly to your dealer. People looking to sell their property can get an idea of what kind of property is currently in demand, what should be the highlight of his advertisement to get higher sales, how the property should be priced, etc.

Searching for property

The primary traffic on real estate sites is people seeking to buy or sell a property. You have plenty of options to tweak to fine-tune your search. You can start by narrowing in on the area where you would like to buy your property. Once that is fixed, select whether you are looking for a flat, an apartment or a villa. You can specify the amenities required, the approximate cost and the area in square-feet. The search can reveal many results, listed in the decreasing order of their correspondence with your requirements.

The first option is usually the closest to all the criteria that you have entered.  When you check the property out, you can see the picture of the building along with details. You can compare the existing properties of a particular builder to know if he is trustworthy and dependable. If you are still doubtful whether to move ahead or not, you can check out the existing as well as upcoming projects to see if any of them fit into your dream home image. If the project is ongoing, the projected completion date is also available.

Some sites offer the convenience of uploading photographs of the work completed until now, even if the overall construction is still in progress. They specifically show the interiors or a detailed floor plan.  There are options to contact the builder for further details. If you prefer, you can message the builder about the features. The technical details shown on the page include the total number of units in the apartment, the number of occupied units, the approval by the local authority, portion of the property facing the river, etc. You can also check out the list of amenities that come with apartments, which can be individual or universal, including clubhouse, security services, STP plant for sewage disposal, water purification systems, children’s play area, gyms, rooftop gardens, etc.

Rent or post ad

Property sites also offer services other than buying. You can search for a place to rent as well as post advertisements for the sale of your property. You can post ads for free or some sites offer premium paid memberships where you can put up your ad to give it an enhanced reach to potential customers. Since the majority of people spend time online, it is only a wise choice to post your advertisement in the digital space.

Statistics

Another useful section that you can find in a property site is the one that deals with the numbers in the current scenario. It features a statistical account of the home trends, area wise preference of people, etc. Most importantly, there are charts and statistical estimates on price trends.

Blogs and insight

Good real state sites also invest in good blogs and informative series. It is good to read through them to gain some insight into the steps you need to take before zeroing in on a property. A lot of information on property laws, required documentation, and details about the most important tips to keep in mind when buying real estate, are available.

News

This section is very relevant and highly informative for anyone looking to transact in the real state space. It gives a brief idea of the fluctuations in the property market exclusively.  Browse through it to know the changes in property rules, building protocols and transaction criteria etc. Staying updated on the news helps you keep in touch with the current home loan rates, which in turn helps you to plan accordingly.

Online real estate portals are slowly gathering momentum and replacing the traditional real estate brokers. These sites display all the information you need, and may even go a step further by displaying statistics and graphs. These portals can offer more choices than a traditional broker, and provide prospective buyers with all the details needed to make the right choice.