NRIs May Boost Domestic Realty, Feels

Real Estate Portal has unveiled an exclusive section meant for NRI’s. Presently, the site has projects spread across 14 metros.

A while ago a similar initiative was launched by MagicBricks. Such websites seem to have realized the potential in offering quality listings to people who cannot scout for properties personally. NRIs either rely on agents or in this cases reality websites. Currently, iProperty boasts of more than 200,000 listings!

With 30 Million Indians staying abroad, the market of offering verified listings is huge. However, the site will have to compete against the big four (Infoedge),  Indiaproperty (ConsimInfo), (Times Group) and (People Interactive).

We have always kept a keen eye for such endeavors. Moreover, the true success will not be the amount of listings but the ability to offer hassle free purchase of properties. MagicBricks had begun to bundle Home Insurance.

Let’s see what other sites will offer to lure such investors. What do you think?

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