Saturday, 13 July 2013

Online real estate market to grow in Patna



Buy Sell Rent Patna


With a rising number of property portals entering the real estate market in Patna, the online real estate business in Patna is expected to improve gradually as these websites bring transparency by providing high quality information about residential and commercial projects in Patna. Property portals and websites are increasingly becoming a tool for research on buying, selling and leasing residential or commercial properties in Patna and many parts of the country, as the amount of information listed on these sites is increasing. Secondly the penetration of internet is increasing day by day in Patna. The good news is that it is not only the younger generation which is getting hooked to computers in Patna but even the older gentry are spending time in front of computer screens.

Currently, the size of the property portal market in our country is around Rs 350 crore going by the top line of some of the listed portals in the country. This market is expected to grow at a CAGR of 50-100% in the coming years, mainly on the back of increased focus on this medium of communication by buyers as well as developers in our country. This model also helps decision-making faster for buyers. It gives multiple options to buyers and saves a lot of time.

By increasing the quality and quantity of information available to end-users, the real estate websites attempt to bring in greater transparency to the entire gamut of buying/selling/renting properties in Patna. It is their constant endeavor to increase the amount of information listed about a particular property in Patna and to avoid duplicate and incorrect listings on the website.
According to experts tracking the realty sector, the real estate websites are fast becoming the choice of consumers looking for buying, selling and renting a property, as well as for developers in our country and Patna too is catching up. Secondly the online real estate market is yet to reach an inflection point as seen in the travel or e-commerce sector in our country. However, with the penetration of internet more and more consumers in Patna have started using this medium as the first point of search for all their real estate needs and in times to come it will grow manifolds.