Website allowing buyers to reserve homes at reduced rates

The National Immovable Development Council (NAREDCO), which works under the aegis of the Ministry of Lodging and urban affairs (MoHUA), launched its e-commerce portal on Tuesday,, which will make the complete inventory of move-in loans or certificates of occupancy apartments nationwide available online.

MoHUA Secretary Durga Shankar Mishra launched the portal in New Delhi. The initiative was proposed and announced by MoHUA Minister Hardeep Singh Puri during the first national RERA conclave held in November 2019 in Lucknow.

Real estate developers can register their projects on the website until February 13. From February 14 to March 31, the portal will offer buyers a sale across India to shortlist and reserve homes at discounted prices. Over 1,000 projects and an inventory of 1 lakh of existing homes ready to move in, and nearly 2.75 lakh of new homes ready to move in, which will be added over the next 12 months, will be available to buyers. of.

“If I have to sum up, I will say it will be the Amazon or the real estate Flipkart. The need for an e-commerce platform has arisen because although the Real Estate (Regulation and Development) law has brought transparency to the sector, clients still do not feel confident enough to invest. They feel they are not getting the best price. Thus, NAREDCO being an industrial body, they will feel that their transaction is safe, secure and transparent, ”said Rajan Bandelkar, President of NAREDCO Maharashtra.

Bandelkar said home buyers will be able to book an apartment with paying only Rs 25,000. “During the sale period, the developers will offer the best prices. NAREDCO will offer cashback to customers. We have also mobilized all the banks to offer the best interest rates and waivers on their fees. It’s about creating a win-win situation for everyone, ”he said. The portal will allow buyers to view comprehensive information including floor plans, room sizes, video tours of units, exterior views of selected apartments.

According to a Knight Frank report released last week, Mumbai has the highest unsold stock, which fell from 15,964 units in 2017 to 1,45,301 units at the end of 2019.

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