Realty portal Magicbricks has over 10 lakh (approximately 1 million) property listings and claims to have increased its reach to over 16,000 localities across the country.
Out of the 10 lakh (approximately 1 million) active properties listed on its platform, 58 percent are for sale and 42 percent for rent. A total of 2.1 lakh (approximately 210,000) listings are posted by individual property owners from across 700 towns and cities.
Around 55 percent of the properties on its platform are from the affordable and the mid-segment range of Rs 20 lakh (approximately US$28,000), Rs 20-40 lakh (approximately US$28,000 to US$57,000) and Rs 50-70 lakh (approximately US$71,000 to US$99.9k).
In an interview with Moneycontrol, Sudhir Pai, CEO, Magicbricks.com, shares details of new platforms launched by the company, impact of regulatory mechanisms and future plans.
Q: Has the online space for real estate transactions evolved?
Read more here
Join us in Bangkok the 19th to the 22nd of March for the Property Portal Watch Conference.