Friday, January 18, 2008

With the housing market booming, more and more people looking to buy or rent homes are turning to real estate portals to choose their dream home

Real estate classified ads in newspapers cannot provide the scope of information that housing portals can, such as a virtual walk-through of the living space. “Portals are slowly but surely proving to be a substitute for classified ads,” says Varun Arya, a Gurgaon-based property consultant.

According to San Francisco-based, which monitors Internet use, Indiaproperty, 99acres, Magicbricks and Indiaproperties are among the top players in the field in terms of daily reach.

New players are entering the business, with Mumbai-based People Interactive (I) Pvt. Ltd, which runs the matrimonial portal,, has launched a real estate portal,

Naresh Malkani, a Pune-based real estate professional and chairman of the India Institute of Real Estate (IIRE), a non-profit organization that seeks to promote the real estate business, set up Indiaproperties in 1999. Arguably the first real estate portal to be launched in India, Indiaproperties claims to be for individual buyers and sellers. “Around 82% of listings on our website are from individuals and the rest from builders and brokers,” says Malkani.
Property Portals: House hunting - livemint

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