Riding The Digital Wave With Virtual Tours
Outlook Money|August 2020
Riding The Digital Wave With Virtual Tours
Homebuyers can now avoid site visits and take a complete digital tour of the property and the surrounding area
Vishav

Amit Gupta, an IT professional, bought his first home in Greater Noida (West) around seven years back. He made dozens of visits to different property locations and met a number of real estate agents before narrowing down on an under-construction three-bedroom flat. Even after deciding to purchase that apartment, he remembers how he had to visit the builder’s office several times for different formalities right from booking to taking possession.

Gupta, who now lives in Sydney with his wife, is considering investing in the Indian real estate market, which he sees as a good investment opportunity. However, living thousands of miles away now in a completely different continent, he is no longer in a position to again make those multiple visits and go through all the hassles.

There are many such investors, not just NRIs, who want to invest in the Indian real estate. And since their goal is financial returns, rather than end-use, many are open to make the purchase without a physical visit as long as the location is desirable and the builder has a good reputation.

While buying a property without visiting the construction site and the office of the builder multiple times was not possible when Gupta bought his first home, many reputed developers are now adopting digital technologies to make this possible. In light of the COVID crisis and ensuing lockdown, this transition has picked up pace. Many state governments are even making the registration process online, with Maharashtra taking the lead.

According to Yukti Nagpal, Director, Gulshan Homz, digitisation has helped in reviving the sector to a certain extent after it was brought to a standstill due to the lockdown. In order to overcome the mobility challenges, Gulshan Homz started digital marketing and virtual tours of their properties for their target buyers.

“Virtual tours bring to you the ease of visiting projects within the comforts of your home, scrolling through your screens via latest technology integration. Now as we study the ongoing trends, tailoring our approach and digital tools have become an elemental part of the process,” Nagpal explains.

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August 2020