Property and Real Estate Websites in India – Need to Share Responsibility

India has recently jumped to the second spot in terms of internet users and has taken over from USA. The internet user figure was expected to jump to 402 million by mar 2016; it stands at 462 million at the end of May 2016, which is a growth of 49%. India has a penetration of 34.8% users as compared to a world average of 40%. India is number 2 with a lower than world average internet penetration; the figures are indicative of the huge potential which this industry holds. Surprisingly, rural internet user base has jumped 77%, the mobile internet growth in the same sector has been 60%. Small metros lead the pack with a growth rate of 60%. The ratio between male and female is 71:29 in rural areas and 68:32 in urban areas.

With the cost of smartphones dropping by the day, these figures are likely to increase exponentially in the coming months. The Digital India campaign of the Government has been a great enabler in this effort. With government data available on a click and processes being brought online, the requirement of internet would be a necessity rather than a luxury projects in India. Today, from college admissions to PAN, Adhaar, voter ID, banking and even driving licences have become paperless and online. With more and more automation and App development it is obvious that an average Indian in the age group of 18 to 65 would require the internet on a daily basis and not for social media but for serious day to day activities or business.

The internet phenomena has caught on because of two primary reasons one, is the ease of business and secondly, transparency. These by the way are the biggest bottle necks or trouble shooters for the real estate sector; despite an economic recovery if the real estate sector is suffering is primarily because of these two factors. The real estate and property websites in India need to seize this opportunity and develop platforms which usher in transparency in the sector. There is an on-going drive at the government end to digitise the land records, once this is achieved it would remove a plethora of mal practises in the real estate sector in India. The property and real estate websites in India need to grow out of their shell, become independent of the builder’s lobby and look at innovative ways to empower the market. The potential was, and is huge however the will has been lacking. The real estate sector in India is huge and is riddled with its own complicated processes; the property and real estate websites need to ease out the process of doing business, make the market attractive and set in transparency; wherein the builders have no choice but to come clean in case they have to do business.