Impact of e-commerce on Indian real estate

By Ravindra Pai, MD-Century Real Estate

India is one of the fastest growing markets for the e-commerce industry. With many industries like apparel and fashion being influenced by e-commerce, real estate industry is not far behind. Real estate is an information-driven industry. With the Indian home buyers getting younger and more tech-savvy, they research about the properties, developers, facilities and amenities accessible at the property online. With technological advances like virtual reality, buyers choose to visit prospective homes virtually prior to actually visiting the site.

According to industry sources, India has been ranked the second largest online market in the world where 20 million Indians search for homes online every month. Almost 53% of the total real estate transactions in India are influenced by the online portals.

House buying trend:

The growth of e-commerce business in India has seen an increase in salaried class investing in the purchase of a property. Home buyers desire to own a house in a residential locality with modern amenities. The choice of owning a house is also influenced by an annual income of the family. Real estate pricing has seen an increase in the cities where employees recruited by the e-commerce companies to service the customers are strategically placed.

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