While tying up with e-tailer Snapdeal last year for the sale of premium houses, Ratan Tata was sure that the investment would be testimony to the growing interest of established business houses in India’s burgeoning internet trade.

The property carnival by Snapdeal in association with its realty partner Tata Housing on June 5, 2015 witnessed the largest deal of Rs 1.1 crore.

Hours after commencing the online sale of Tata Housing’s premium and luxury apartments on its website, e-commerce major Snapdeal announced its biggest transaction worth Rs. 1.1 crore. The property festival has received an overwhelming response with more than 1800 enquiries.

Snapdeal Vice President for Fashion, FMCG and Real Estate, Amit Maheshwari said, “We offer an effective and economical channel for Tata Housing to reach its target group across India”. “Since the launch of the real estate category, we have focused on forging alliances with some of the most trusted names in the industry to provide a range of housing options to customers”, he added.

While Snapdeal has reaped success in online sale of real estate, the Co-founder & Managing Director of realty portal Shopsandhomes.com Rohit Dixit says, “Buying homes online is preferred only by large Investors who believe in a particular brand.  “ . “ The end user who purchases a flat with the motive of occupying it will never choose a property online, be it any trusted e-commerce gateway ”, he adds.

Luxury housing segment, Nahur

Nahur which is situated in the north-eastern part of Mumbai is a suburban hotspot located at the end of the Greater Mumbai region.  In line with the real estate activity across Mumbai, the western counterpart mainly along the LBS Marg is witnessing far greater activity in comparison to the eastern side.

In Nahur, the central railway line divides the micro-market into the eastern and western side. The area along LBS road is home to erstwhile large-scale industries, most of which are shut since long, yet they occupy hundreds of acres of strategic plots. Over the past few years, the area has witnessed significant development with prominent developers launching their residential projects in the micro-markets.

The LBS road in Nahur is witnessing the change in skyline, led primarily by the development of some premium projects that are promoting the concept of affordable luxury, coupled with availability of large develop able land parcels allowing developers to take significant land positions in the area. A few prominent retail malls have also mushroomed in the region to cater to the residential areas. Connectivity remains one of the strongest features of this project. An in-house provision for general stores ensures that an individual needn’t move out of the premises for day-to-day needs.

The transformation in the area is led by none other than HDIL which has been a pioneer when it comes to addressing the needs of affordable luxury housing segment. One of their projects Majestic Towers, which is a 36-storey mega project at Nahur (w), offers optimally, priced affordable luxury housing options in 2, 2.5 and 3-BHK. Some of the projects developed by the company are setting new benchmark in construction. The kind of facilities, specifications are provided in their affordable luxury homes are a complete game-changer. For instance, elegantly designed, with stylish fittings, and amenities like a clubhouse, pool, gym and landscaped gardens with reflexology, cricket pitch, squash court an apartment in Majestic Tower, is truly life’s best within reach. Yet, when it comes to pricing, it remains well within the budget. With almost 55-60 per cent of construction completed and work in full swing; the projects are set to meet the completion and handover deadline in 2016. This remains an opportunistic moment to invest to avail of benefits with least financial burden. The fact that 15 leading institutions are providing financial assistance for these projects bear testimony to the quality of the project.