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56% buyers choose RERA for filing the complaint – Magicbricks Consumer Poll

Haryana RERA has received 1800 complaints; UP RERA regulator has disposed of 2200 out of 8100 complaints Within just over a year of its implementation, Real Estate (Development and Regulation) Act 2016, (RERA) has instilled faith and confidence among consumers as 56% of home buyers prefer to file their first complaint with the RERA regulator, revealed a Magicbricks Consumer Poll. While an astounding 56% of respondents prefer the RERA regulator in case of a dispute, surprisingly 23% still prefer to file their first complaints with the builder. Around 12% home buyers said that they would go to consumer courts. Just 7% chose to go to the police and 2% would either go to the High Court or Supreme Court. Clearly, this shows that the real estate law has instilled confidence in the consumers for ...

Magicbricks.com launches PriceFlashEngine™ to combat demonetisation woes

Magicbricks.com, recently announced the launch of India’s first & most advanced property price movement tracker called PriceFlashEngine™. A unique tool that helps home buyers to set up alerts to constantly monitor the prices of the properties they are interested in and to then make their move whenever a great deal comes their way. The Engine digs deep into the rich data of Magicbricks.com and uses advanced algorithms to track the movement of property prices and instantly alerts the consumers if property prices move and if great deals become available. RM Correspondent This tool also has a feature called as ‘make me buy’ which allows consumers to set a ‘wishlist price’ for the property they are interested in – if a seller is happy to sell at this price, he can then connect with the buye...

Property search goes Experiential – Magicbricks launches its first Real Estate Experience Center

Mumbai, 16th November, 2016: Magicbricks today offered consumers the first-of-its kind Real Estate Experiential Centre at Magicbricks Western Express Highway metro station. Equipped with state of the art technology & power of unmatched content, the initiative aims to change the way they have been traditionally going about property search. RM Correspondent, Mumbai The Experience Center is a unique & beautiful amalgamation of the online & offline worlds thereby bridging an important gap that existed between a buyer & a seller. Using technologies like Virtual Reality, Augmented Reality, on-demand Video-call and large format touchscreens, the brand has created a compelling proposition to address the myriad questions that plague a buyer during him home buying journey. The centre...

Narendra Modi’s Demonetization Move Will Impact Real Estate

Often termed as laidback sector with a reactive approach, the real estate industry, surprisingly, was quick to react to Tuesday’s announcement of demonetising of Rs 500 and Rs 1000 currency notes. It appears that the sudden announcement by Shri Narendra Modi has spread some tremors in the real estate market, though the actual magnitude of this jolt is yet to be measured. Souma Mukherjee Real estate has always been synonymous with black money. Property transactions never used to happen on the defined circle rates. On an average, a ratio of 35:65 was into practice where only 65% of the cost transacted in white. Well, all these become history! Thanks to India’s one of the dynamic prime ministers Shri Narendra Modi who, in a yet another dynamic and surprising decisions, announced the withdrawa...

Magicbricks.com ‘Dream Homes Festival’ Season 2 is here!

Magicbricks offers the home buyers to avail customized deals and amazing discounts on every property.  RM Correspondent The 21 day long festival will commence during the auspicious period of Navratras on 3rd October and will continue till 23rd October, 2016. The idea behind the Dream Home festival is to give a platform to consumers to avail the best possible online deals on properties. This time the fest is going to be five times bigger than its previous version in terms of no. of properties which will be showcased and the offers available for the customers. To add on the festivities, the Dream Home Festival will feature more than 400 projects which will be available for consumers on irresistible discounts, offers and exciting prices. The properties featured on the portal will be from deve...

Housing.com & Magicbricks.com face-off

The real estate property search platforms seem to go a bit aggressive this time. This September co-incidentally both the online property search giants launched upgraded versions of their platforms. Both reported to get a heavy traffic and focusing towards a seamless customer experience. Souma Mukherjee Housing.com, has been a lot in news with their top management, massive marketing budget, and investor pressure. The vision has even changed with time, now the versions too. Even though their technology has been a breakthrough in the real estate sector, yet it got saturated with time. Housing.com has changed drastically from rental properties, reports, content, to a property buying platform. The focus of the current up gradation was that mobile web has the highest reach; it is the apps that w...

We have bigger responsibilities than generating leads – Sudhir Pai, Magicbricks.com

Sudhir Pai, is the Chief Executive Officer for Magicbricks.com. With 14 years of management experience, Sudhir brings rich, multi-industry exposure across FMCG, Banking & Internet Classified sectors. He’s spent around10 years at the Times of India Group, of which the last 5 years has been in leading Magicbricks.com. His early work experience was between Hindustan Lever, Marico & Citibank India. Team RealtyMyths.com recently, had an interaction; here are some of the excerpts: What do you think about the online real estate scenario? How is Magicbricks.com planning its path? The online scene has changed drastically, buyers are open to experiment these day. Now with our huge scale of visits we are trying to create an experience and adding value to the buyer in every possible way.  Ther...

Real estate market still going strong

New Delhi, 07 January 2016: Magicbricks.com’s latest Price Trend Report consists of the evaluation of the weighted average price for 11 major cities – New Delhi, Gurgaon, Mumbai, Pune, Chennai, Bangalore, Noida, Kolkata, Ghaziabad, Ahmedabad and Hyderabad. The analysis has been done for a two year period from quarter ending July-September 2013 to July-September 2015. The database of actively listed properties on Magicbricks for each city has been used for analysis. The report reflects that prices have either seen marginal increment or have actually gone down. Even in cases where there has been some increment, adjustment for inflation erodes any increment. Therefore, while developers have not explicitly reduced prices, there is an element of ‘time correction’ of prices. On an average, prope...

E-commerce: a new trend in real estate market?

E-commerce: a new trend in real estate market? from RealtyMyths Advisory firms maintain that the online real estate segment has witnessed a two-fold increase in the number of deals in 2014, as compared to 2013. The value of the deals has also increased from $19 million in 2013 to $232 million in 2014 Experts say its more about the consumer sentiment, belief and greater transparency which is culminating into the radical growth in the segment. Users are no longer merely interested in searching for houses, they are also buying houses online now.

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