The real estate sector is going through a significant shift as technology continues to grow at an unheard-of rate. Technology is transforming how we purchase, sell, and manage real estate, from virtual home tours to blockchain-based property transactions.

Virtual and augmented reality (VR and AR) utilization is one of the most significant ways technology is influencing the market. With the aid of these technologies, prospective buyers may virtually tour homes and even alter the décor and layout in real time. In addition to saving time and money on travel, this enables buyers to get a better idea of what a property would look like before paying a physical visit.

The application of machine learning and artificial intelligence (AI) is another way that technology is changing the sector. These tools can examine vast amounts of data to spot patterns and forecast future market circumstances. This can assist real estate professionals in making better-informed choices regarding the purchase, sale, and investment of real estate.

Blockchain technology is also being utilized to simplify real estate transactions and improve transparency. With blockchain, the danger of fraud and mistakes throughout the purchasing and selling process can be reduced because property ownership can be documented and monitored in a safe and tamper-proof digital ledger.

The ability to remotely operate and monitor a home from a smartphone is another benefit of the growing popularity of smart home technologies. Everything from voice-activated assistants and energy-efficient appliances to smart thermostats and security systems can be categorized under this technology. Future trends are anticipated to see an increase in the use of smart home technologies as more buyers place a higher priority on sustainability and energy efficiency.

In general, technology is transforming the real estate sector, making it more accessible, transparent, and efficient than ever. We may anticipate many more changes in the way we purchase, sell, and manage real estate as these technologies advance and expand.

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The real estate industry in India is flourishing, and there are many options accessible for people who want to buy or sell property. Online portals have gained popularity as a means of conducting real estate transactions as the real estate sector becomes more and more digitized. We’ll look at some of the top Indian real estate portals and websites for buying and selling property in this article.

1.) Magicbricks: One of the top online real estate marketplaces in India. It was introduced in 2006, and the Times Group owns it. The website offers a wide range of services for buying, selling, and renting real estate, including verified listings, virtual tours of the homes, and help with the necessary paperwork. Magicbricks is an all-inclusive website for anyone trying to purchase or sell property in India because it also provides features like property price trends, localities’ insights, and user reviews.

2.) 99acres: 99acres is a different well-known real estate marketplace in India that provides a variety of services for buyers and sellers of real estate. The platform was introduced in 2005, and Info Edge, the business behind Naukri.com, owns it. Users of 99acres can access verified listings, virtual tours of properties, and price trend analyses for different areas. The platform serves as a one-stop shop for all property-related issues by providing a variety of services like home loans, property appraisal, and legal advice.

3.) Housing.com: Housing.com is a well-known real estate website that employs technology to make buying and selling real estate easier. PropTiger.com, which launched the platform in 2012, is the platform’s owner. A number of services are available through Housing.com, such as verified listings, virtual tours of properties, and help with paperwork. Additionally, the platform features a special function dubbed “Slice View,” which gives consumers a 360-degree view of the inside of the property. Housing.com is a great resource for Indian buyers and sellers of real estate because it also offers users information on neighbourhood trends and real estate price indices.

4.) CommonFloor: Quikr is the owner of CommonFloor, a real estate platform that was introduced in 2007. Users can get verified listings, virtual tours of properties, and help with documents through the platform. Along with a variety of other services, CommonFloor also provides legal counsel and housing loans. The platform features a distinctive feature called “Community Living,” which gives customers knowledge about the neighbourhood, including specifics about the area’s schools, hospitals, and services. Additionally, CommonFloor provides a mobile app that makes it simple for users to browse the website while on the go.

5.) PropTiger: Elara Technologies is the owner of PropTiger, a real estate platform that was first introduced in 2011. Users can get verified listings, virtual tours of properties, and help with documents through the platform. Additional services provided by PropTiger include home loans, property appraisals, and legal support. The website features a distinctive feature dubbed “Real Insight,” which gives customers data-driven insights into the real estate market. Additionally, PropTiger has a mobile app that makes it simple for consumers to browse the website while on the go.

These are some of the top websites/portals for buying and selling real estate in India. Every platform has a different collection of features and services, therefore it’s critical to compare them all according to your own requirements. Online portals provide a convenient and hassle-free approach to buy or sell property in India, regardless of the platform you select.

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Chief Secretary  Somesh  Kumar on Tuesday held a preliminary meeting with various companies to take up digital land survey in the Telangana State.

A total of 17 companies participated in the discussion.

The Honourable Chief Minister K Chandrashekar Rao is likely to hold a meeting with these companies shortly to take up digital land survey in the state.

It may be recalled that the government has sanctioned an amount of Rs 400 crores in this years budget towards carrying digital land survey in the state.

During the discussion, Chief Secretary enlisted the views of the companies and the problems encountered by them while taking up similar surveys in other states. The methodology, technology to be adopted, time and cost factor, availability of survey equipment and technical persons, requirement of software, hardware and internet bandwidth were some of the issues which figured in the discussion.

Industries Principal Secretary, Jayesh Ranjan, Commissioner, Stamps and Registration, Seshadri, Telangana State Technology Services (TSTS) MD Venkateswar Rao, Commissioner Settlements Sashidhar and other officials were present.

The Chief Minister had announced early this year that a comprehensive digital land survey will be undertaken and tenders will be floated for the project soon.

This is the first time in 90 years that a comprehensive land survey will be undertaken in the state. It is expected to not only end disputes but also lead to transparency in the land records.

The Chief Minister asked the officials to invite tenders for a comprehensive digital land survey across the state using geographic coordinate system.

While the total cost of the project is expected to cost around Rs 600 crore, the state government has allocated Rs 400 crore in 2021-22 budget and promised to make the remaining amount available in 2022-23.

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Auction prices are usually around 20 to 30 percent less than market prices. However, there are also risks of purchasing such property. So if you are thinking of buying property at auction cheaply, then keep the following points in mind.

• Find out the market value of the property before you buy it. For this, hire a professional property appraiser and according to what the price appraiser tells you, transact the property accordingly.
• If you have bid for the property, know that the bidders will have to deposit 10% of the reserve price in the form of deposits. On winning the bid, 25% of the share will have to be deposited on the same day. Failure to do so will result in forfeiture of money. Therefore, you should arrange sufficient amount before the auction process.
• Before purchasing the property, make sure to check all the necessary documents including the original sale deed and non-encroachment certificate.
• Before submitting your bid, check that the owner has a recovery certificate from the Data Recovery Tribunal. Also, to protect the owner from any future claims, please take a certificate of compensation from the bank.

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Knight Frank India, a property consulting company, said the average prices of homes in the six major cities of the country declined by two to seven per cent during July-September. These cities are Delhi-NCR, Mumbai, Chennai, Pune, Kolkata and Ahmedabad are included.

However, the average house prices in Bangalore and Hyderabad rose by three and four per cent, respectively, compared to the year before.

Shitir Baijal, MD, Knight Frank India, said that the third quarter of 2020 saw a significant improvement in sales and launches. The developers’ focus is on cleaning up inventory. Home buyers are giving more preference to ready properties.

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Sales of residential properties in the top seven cities of the country declined by 46 percent during the July-September quarter due to a decrease in demand due to Covid-19. This has been said in the report by property consultant Enarock. The report stated that during the second quarter of the current financial year, 29,520 units were sold in Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad and Pune. At the same time, 55,080 units were sold during July to September last year.

During January-September this year, sales fell by 57 per cent to 87,460 units. The figure stood at 2,02,200 units in the same period last year.

According to data from Enarock, all the seven cities have seen a year-on-year decline in sales from July to September 2020.

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Despite the arrival of Coronavirus, the economy is still the first choice for real estate investment. According to a report jointly released by Housing.com and the National Real Estate Development Council (NAREDCO) Concerned YET POSITIVE – The Indian Real Estate Consumer (April – May 2020), real estate still remains the preferred method of investment. is. This is accepted by 35 percent people. This was followed by gold (28%); Fixed deposits (22%) rank among stocks (16%).

Housing.com’s survey was conducted in April and May 2020, at which time the Indian economy was under lockdown. More than 3,000 potential homebuyers were included in the process through random sampling techniques to enable the survey to be conducted in an unbiased manner.

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A common dilemma for prospective tenants when searching for a home on rent is to determine what amenities are necessary and based on that what rental amount of the house should be. “The facilities close to one’s home in metropolitan cities could be costly and only accessible through annual membership. Most people, therefore, prefer basic projects that include fitness centres, children’s playground, intercom, security, etc. People used to prefer stand-alone projects with only basic facilities in non-metro cities to ensure they did not incur high monthly maintenance costs. This trend is now changing, as people in a number of tier 2 towns are also asking for basic facilities for the project,” says Unishire’s, executive director, Vinay K Mehta.

Most common amenities found in a rented house:

1) Safety and security such as intercom, key area control by CCTV, parking lot access with boom barriers, 24×7 security guards, LPG gas detectors, smoke detectors, etc.

2) Lifestyle-based facilities such as clubhouse, gymnasium, play area for kids, indoor sports such as table tennis, squash court, badminton court, etc.

3) Green features such as rainwater harvesting, sewage treatment plant, common area solar power, waste segregation and composting, etc.

Important amenities that a tenant should check before renting a house:

Sushil Raheja, CEO of Raheja Homes, Builders & Developers, suggests that the best choice for residents would be the semi-furnished apartment, with basic amenities, which will ensure comfortable living at affordable prices.

“The attached wardrobes, air-conditioners and kitchen shelves are the basic amenities required by the residents.” There are several online sites that help you find rental flats according to your requirements. In addition, tenants can buy their own furniture or even rent it at the prices of a wardrobe beginning at Rs 500 per month.

Experts emphasize that it makes sense for you to opt for a house in a project with amenities such as a children’s playing area, a party hall, a clubhouse and a simple fitness facility if you have a family that has children and parents included. Moreover, a gym with a lot of electronic equipment may also incur higher maintenance costs for regular service or the repair of equipment.

“It would be nice to have a walking track for families with senior citizens. Such features are helpful and maintenance-efficient as well. Families with children might enjoy having a pool, but maintenance costs are higher as daily cleaning and regular water treatments are required,” added Mehta.

While tenants can compromise some amenities, others such as security, high-rise elevators and power backup, etc., are necessary. Tenants that have their own furniture should check before moving to a new apartment whether the new house can comfortably accommodate their goods.

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MahaRERA will now allow only skilled workers at construction sites to ensure quality construction and prevent accidents. The workers will also benefit from insurance coverage for their family members.

The MahaRERA has already started to recruit employers’ organizations and also ensuring that the workers do not lose their wages for the day. “The process of training and ensuring that trained staff is carried out sooner than expected, as the vast number of organizations are now joining the MahaRERA as self-regulatory organizations,” said D R Hadadare, chief technical officer of MahaRERA.

Hadadre attended a one-day workshop in Nashik for architects, engineers, chartered accounts and others arranged by the National Real Estate Development Council (NAREDC).

MahaRERA has already declared that every construction operation conducted shall be registered with the authority from 1 December onwards and must send a quarterly report. The report must be kept and published in a described manner, and if this is not done, it will incur fines which could amount to 5% of the cost of the project.

For each development project, registration is mandatory. MahaRERA has appointed four self-regulatory bodies NAREDCO, Builders Association of India, Credai and Maharashtra Chamber of Housing Industry (MCHI) to help builders, developers and architects find their way through the process,” said the officer.

Such SROs would also allow the members major projects or even minor to learn and understand the rules, all advantages and disadvantages that don’t stick to the deadlines and even help them raise issues if any with the MahaRERA and get them resolved.

MahaRERA and Avinash Shirode formed a conciliatory committee. The Nashik members are Rajan Daryani and Mohan Ranade.

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Magnolia Quality Development Corporation (MQDC) a Thailand real estate development company is going to launch its first-ever co-working office space under the name Whizdom Club in India. It is being said that they will be developing two more properties in Delhi NCR and is assessing opportunities for property development.

The first of the three proposed projects in India is located in the Greater Kailash-II area at South Delhi. The property has been leased from DLF-covering 22,000 square feet and has over 400 seats.

“We’ll look at second and third sites after we normalize this property. We may not be as fast as the other players, because we do not have a set format in our product. We will be adjusting to each of these sites depending on the gaps and opportunities that the area offers,” says Chulamas Jitpatima, Director, MQDC India Real Estate Private Limited.

Following Delhi and Gurugram, it might be possible for other cities like Bengaluru and Mumbai to be considered, but until now it will be only for NCR for the coming few years.

The company is also open for opportunities to property development in India. “MQDC is a house of brands. The portfolio includes at least 10 brands. Some of them are launched while others are underway. We would like to partner with a player who shares our perspective. We are open to the development of mixed-use, home and hybrid co-working models,” she said.

The organisation is not limited by size. “Everything depends on how attractive the place is. It may be the same size as here and depends on the product mix too. We are also ready to buy, rent and even joint ventures in the future, depending on the possibilities,” she said.

Further, she stated; The Whizdom Club is looking to target between 20 and 40 year age group in start-ups, funded teams, corporations and even students. The idea is to catch young people. “We want to grow future lives. Our USP supports not only infrastructure but also mentoring.”

In addition, the company is involved in the events. These events also can be booked by non-members. It’s also going to have a Delhi ideation laboratory. “Global MQDC’s vision is to build future leaders. That’s why we’re targeting students too.” Costs per seat depending on the number of years of lock-in.

“Hot desks, committed or fixed desks and cabins are typically present. The rates of the hot desks range from Rs 13,000 to Rs 16,000 a month, depending on the occupancy levels. Students can also get a day pass. We will also start a program that allows students to enjoy a 30-day free trial with an ID card. A daily Rs 600 pass includes access to printing and even events,” she said.

The company focuses on wellbeing, prosperity and enhancing living. “The way the room is determined is reflected to all this. The number of seats will not be maximized. Our emphasis is on natural light, ventilation and the lowest possible use of air-conditioning ducts,” she stated.

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