With digital adoption on the rise in India’s real estate sector, Bengaluru is leading the chart in Tier-1 cities in terms of homeowners and landlords opting for online services to sell their properties during the period from March 2020 to March 2021. In terms of digital adoption in Tier-1 cities, Bengaluru is followed by Hyderabad, Chennai, Pune and Mumbai. Sellers from top localities like Whitefield, Velachery, Gachibowli took the online route for listing and selling their properties, the latest Magicbricks study has revealed.
Meanwhile, Tier-2 cities like Lucknow, Jaipur and Coimbatore have witnessed a 2X rise in homeowners and landlords opting for online services to sell their properties during the same period.
Landlords and homeowners are now looking for a host of specialised online services like getting a professional photo shoot done, creating a crisp content description, getting best online listings for quick and best responses, and having a dedicated relationship manager to close the deal. Even homeowners and landlords in Tier-2 cities are now increasingly taking the digital route to expand their reach to find buyers, the report adds.
Top localities in Tier-2 cities with maximum sellers online are: Gomtinagar (Lucknow), Indiranagar (Lucknow), Mansarovar (Jaipur), Saravanampatty (Coimbatore), Patia (Bhubaneshwar), Super Corridor (Indore), Manish Nagar(Nagpur), Vasna Bhayli Road (Vadodara), Madurwada (Vizag), Saguna More (Patna), and Hoshangabad (Bhopal).
As per the study, the duration for selling properties varies from 0-3 months for 57% of the sellers, 3-6 months for 27% and over 6 months for 16% of sellers. Further, the study notes that since the pandemic has given a boost to owners and sellers to go the digital route, 40% of the sellers are now shortlisting six buyers on an average before closing the deal.