RoofandFloor generated interest from over 5,000 prospective homebuyers for leading properties in Bangalore and Chennai during the first-of-its-kind online home buying mela, the’Great Indian Home Sale.’
Bangalore, December 7, 2017: RoofandFloor, in partnership with Property Plus of The Hindu Group, hosted the first ever online home buying mela ‘The Great Indian Home Sale’ to lure Indian homebuyers. A total of 36 realty giants from Bangalore and Chennai participated in the event.
The five-day long carnival was based on a unique ‘Bid Your Price’ model, where homebuyers had an opportunity to place bids on the properties they liked at the price they wanted. The bidders had to pay a (refundable) registration fee of Rs. 499 (all inclusive) for placing bids on up to three different properties. The bidding started on 29 November and ended on 3 December.
As soon as the bids were placed, bidders received communication about the successful bids through three channels – email, SMS, and IVRS. They were then free to revise their bids to stay ahead of others.
Post the event, the bids placed were shared with the builders, who then selected the winning bids. Signaling the revival of customer sentiment, GIHS was a big success as it generated interest from over 5,000 homebuyers. As many as 2,000 bids were placed, out of which 500 were successful.
The Great Indian Home Sale saw a good mix of property types, including apartments, villas, and plots. The size of the apartments listed ranged from 1,200-3,600 sq. ft. For villas, this was in the range of 2,000-5,000 sq. ft.
Commenting on the overwhelming success of GIHS, Rajiv Lochan, Managing Director and CEO of Kasturi & Sons Limited, said that “the success of the event proved that brands that innovate and pass over the benefits to the customers stand a chance to gain. We look forward to many more such events as we go ahead.”
“Right from the start, we believed in the format as it was customer-oriented. Clearly, the concept has clicked with buyers. The stupendous success of the Great Indian Home Sale also augurs well for the real estate sector considering the recent slowdown. We have been witnessing a positive change in consumer sentiment on RoofandFloor, which has certainly translated into the success of GIHS,” said Gowri Shankar Nagaraj, CEO and Co-Founder of RoofandFloor.
VC Developer, Director of VC Properties, added that, “Unlike other home buying festivals of the past, GIHS allowed homebuyers to bid on the properties they love. This is, largely, why it recorded great response from genuine homebuyers. Events like GIHS must happen more often to help people realise their home buying dream.”
