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October 20, 1999
Indiaproperties.com, the realty portal
A Staff Writer
Anyone buying real estate will agree that the toughest part is finding the right property that fits the budget.
Launched in April this year, the site promises to be a cost-effective way to market real estate through the Web.
Naresh Malkani, e-managing director, Indiaproperties.com says: "The main purpose of launching the site is to bring sellers, buyers and their agents throughout the country on a common platform. Today the real estate industry is the largest unorganised business in the country. With this site we want to bring a more formalised structure to real estate business."
Indiaproperties.com caters to real estate related needs of:
For Rs 2,500 individual buyers, sellers and brokers can list property on the site for 90 days. Brokers have a limit of listing up to a maximum of five properties per broker.
Builders will have to pay Rs 2,500 for each project with a maximum listing of 10 properties in a project.
If the property has not moved in 90 days it will be listed for free up to one year or till it is sold, whichever is earlier.
Indiaproperties.com has an affiliate scheme for real estate builders and agents. For a membership cost of Rs 5,000 a year builders or brokers can have a banner link to their own Web sites.
The site offers buyers the option to choose between buying and leasing residential, commercial, industrial and agricultural property.
Buyers can search under sub categories like city sub-area, price range and area range in terms of square feet or square meters.
If with the properties listed they can specify the kind of property they want. For matches found later an email is automatically sent to the buyer notifying him about the property.
The site has a full page of details of each property listed on it. The page contains the location, address, area, price, contact details, a description in the owner's words, features such as building details, number of rooms, type of flooring, garden, terrace, power source and backup, cable TV and parking space.
It offers the same services for sellers, real estate agents and builders.
Indiaproperties.com has partnered with ICICI Limited to offer online housing finance. Sellers of property can have their property pre-approved by ICICI. Buyers can pre-approve themselves for a housing finance loan.
Users can also subscribe to a free newsletter that carries information on the housing industry and details of new projects.
The site sports links to the Reserve Bank of India's Web page that answer questions about property buying by non-resident Indians, the Estate Agents' Association of India and ICICI.
Indiaproperties.com has tied up with the Estate Agents' Association of India to make estate agents computer literate. They also provide free email addresses to the estate agents.
The indiaproperties.com site:
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