Are You Aware of "Group Booking" in Real Estate?

Bangalore: “Group booking” is a new trend where buyers can get discounts on multiple purchases by going in a group with relatives or friends.  In this volatile realty market, developers are tying the knot with online sales portals to offer group discounts to tempt home buyers which would further increase the sale number, reports Anuradha Shukla of Business Today.

"It is very difficult for the developers to give discounts to individual buyers. But if more than four or five persons are buying together, developers can offer them a substantial discount. It also helps them to save a hefty brokerage fee," as said by a senior executive from grouphomebuyers.com, an online portal promoted by actress Shilpa Shetty and Raj Kundra, reports Business Today.

As we have seen that in the recent past, real estate sector is going through an unstable phase and developers are in jeopardy to execute their projects in time as well as to sale their inventories. As a result, Real estate Portals are giving additional freebies on every purchase of above 2 crore to buyers. As per the websites like GrOffr.com and Discounted Flats, the discount depends upon the strength of the group which ranges from 2 percent to 20 percent.  And to entice home buyers, real estate portals are giving discounts and other freebies like exciting holiday packages, free home registrations and free home insurance plans.

An executive from grouphomebuyers.com cited that "We get together people with similar interests. Then we negotiate with the developers who are ready to offer discounts which otherwise they may not give to an individual. So, this is a kind of win- win situation for all”, reports Business Today.

Developers grabbed this opportunity to increase their sales in this present volatile real estate market. The trend “Group discount” is already started in the realty market of Mumbai and Pune, now the portals are offering in Delhi-NCR as well.