The ‘Housingforall’ website will list only list projects with occupancy certificates.

Money Real Estate Saturday, January 18, 2020 - 18:03

With the real estate sector in the country slumping and housing sales declining, the government has launched a website for those looking to buy homes. This online platform will list projects with occupancy certificates and will mostly be ready-to-move-in properties.  

The website was officially launched on January 14 by Urban Affairs Secretary Durga Shanker Mishra. He said at the time of the launch that the portal hopes to become the Amazon of real estate in India.

Here are five things to know about the website:

Launch timeline

While the website was officially launched on January 14, it is currently open only for builders for them to onboard their projects. It is important to note that only projects that have received occupancy certificates will be listed on the website.

As part of the second phase of the launch, the website will be thrown open for buyers from February 14. However, until February 29, home buyers will only be able to search and shortlist favourites.

When can you buy?

Home buyers will be able to book their shortlisted homes between March 1-15, after which they can finalise transactions and complete documentation.

However, registrations are currently open for buyers as well and the portal is offering a car for one lucky winner who registers.

What’s on offer

According to the website, the lowest priced inventory will be made available by builders. Those looking to buy a house will be able to create custom searches for properties to be able to filter based on floor plans, room dimensions, etc.

Housingforall.com also offers video tours of units and even external views from windows and balconies.

Costs involved

If home buyers want to reserve a unit on the website, they can do so with a deposit of Rs 25,000. This deposit is refundable in case a buyer doesn’t end up buying the reserved unit.

But if any shortlisted units are sold, customers will be immediately notified.

Partners

Housingforall.com is an e-commerce portal by the National Real Estate Development Council (NAREDCO), which was formed under the aegis of Union Ministry of Housing and Urban Affairs.

The portal lists State Bank of India (SBI), PNB Housing, LIC Housing Finance Limited, HDFC Home Loans and Tata Capital Housing Finance as sponsors and partners.

As per reports, REDAI-MCHI, CII, FICCI, ASSOCHAM, Builders Association of India (BAI), and Indian Merchant Chambers (IMC) have also been listed as partners.