NEW DELHI: With an aim to boost the ailing realty sector, Ministry of Housing and Urban Affairs on Tuesday launched an online platform to facilitate homebuyers.
The platform will list projects that have received occupancy certificates (OCs) and officials said it will create a safe and transparent home-buying experience.
Urban Affairs Secretary Durga Shanker Mishra launched realtors’ body NAREDCO’s e-commerce platform which will list completed residential units and said the portal has the potential to become Amazon of Indian real estate.
The portal ‘HousingForAll.com’ should be credible and transparent, he said, adding that there should also be a redressal system for consumers’ grievances.
“This website is not for NAREDCO but for consumers and homebuyers who can take an informed decision,” Mishra said in his address after launching the portal.
Officials said that the move will create positive sentiment for the real estate industry, boosting confidence and faith amongst home buyers, enhancement of liquidity flow in the industry and contributing to the growth of the economy.
The National Real Estate Development Council (NAREDCO), formed under the aegis of Union Ministry of Housing and Urban Affairs, would list only completed RERA-registered housing projects on the platform. Buyers will be to start making purchases from March 1 till March 31 this year.