Housing.com, part of Elara Technologies Pte Ltd which also owns PropTiger.com and Makaan.com, now enters the Ahmedabad market to expand its presence in Western India. With 1000+ properties listed on the portal, home buyers will now get a chance to buy properties online from renowned developers such as Iscon Developers, Ganesh Housing, Arvind Group, Savvy, Adani and Pacifica to name a few. In line with the company’s long term vision to become India’s leading Online-to-Offline (O2O) digital real estate services platform, Housing.com further aims to strengthen the brand’s presence in a city that has witnessed increased property demand over the past few months. With Ahmedabad joining the list of cities, Housing.com’s presence has now increased to 10 cities including Mumbai, Bengaluru, Kolkata, Chennai, Hyderabad, Pune, Delhi, Noida and Gurgaon.
While India’s residential real estate market has traditionally been centred around cities such as Mumbai, Bangalore, Pune, Chennai, NCR, Kolkata and Hyderabad, Ahmedabad has rapidly positioned itself as one of the fastest growing cities on India’s residential realty map. The city has overtaken Chennai, Gurgaon and Noida in terms of residential launches from organised developers, evident by the fact that its contribution to the launches in the country has doubled to around 8% in CY 2016. Interestingly, the city has witnessed the launch of around 650 projects since Apr-2013 and has surpassed Gurgaon and Noida, which witnessed the launch of around 300 and 400 projects, respectively.
Mani Rangarajan, Chief Business Officer, Housing.com commented on the development saying, “As India’s largest O2O platform, we want to contribute towards the evolution of the real estate ecosystem in India and make it future ready. In line with this vision and given the high performance market that Ahmedabad is, we found it an opportune time to make our entry here. We look forward to strengthening our presence with around 2000 properties in the next one year and enable a seamless experience for our consumers.”
Rocky Israni, Managing Director, Pacifica Companies said, “Through our association with Housing.com the biggest and most trusted name in the online real estate space, we aim to strengthen our consumer base and showcase our properties to our potential buyers in the most efficient way. The association will provide our users a good first-hand impression of a property by making property search efficient and productive.”
One of the primary reasons why Ahmedabad is in the centre of the demand radar is its relative affordability as compared to other cities. The affordable segment (units priced below Rs.50 Lac) contributed the most to the city’s launches at around 67% in CY 2016. As per the demand analysis on the Housing.com & PropTiger, around 75% of the home buyers’ enquires for Ahmedabad in the past 12 months are for the affordable segment. Ahmedabad has surpassed Chennai, Gurgaon and Hyderabad on the basis of the share of inquiries received for buying a home.
*Data sourced from PropTiger Data Labs