According to experts, Group Buying is currently the new rage in the Indian Real Estate industry. The concept is based on the premise that a Group has more negotiating power than an Individual, and buying anything - in this case property - as a group, can drive a harder bargain and convert it in a better deal.
In India, property prices have increased significantly over the last decade, in some regions as much as 200%, group buying has emerged as the most reasonable option for the home buyers to get discounts and to own a home at an affordable rate.
GenX Deals, a Venture of GenX i Media Private Limited, is the latest company to launch a property portal which enables Group Buying. GenX Deals prides itself in having a well-knitted network in India's real estate industry, and they understand the need and/or dream to buy a home, so they claim to push their limits every time and negotiate maximum possible discounts from the sellers, which is more difficult to achieve individually.
According to GenX Deals, the company managed to get a sizeable discount of 14% in the Vrindavan and 10% in Noida Extension, which GenX Deals claims is higher than what anyone else can offer in their respective region.
Online Property Auction is a new concept in the Indian real estate market, but it has managed to become quite popular with the public. Online Property Auction is also one of the fortes of GenX Deals. Founder and CEO of GenX Deals, Jetesh Prasher said: 'We have managed to Auction Premium Properties at very good prices. Our Online Property Auction Model is different from others because we are offering properties at 5% less than the market price. GenX Deals has a well-researched and extensive database of high-net-worth buyers and sellers. We have a very positive and growth-oriented relationships with are sellers that work in the benefit of the buyers as well. We ensure a secure and trusted auction so that the buyers can freely invest their money in the deals we facilitate."
Prasher has clearly defined the parameters for the terms of sale. The method is transparent and leaves no room for any kind of discrepancy. "At GenX Deals we leave no room for prolonged negotiations and hence eliminate the chances of contingencies. Till date, the auctions that are held through our website have been fully beneficial for both the buyers and the sellers," concluded Prasher.
Source: GenX Deals
Edited by Gordana Davila