MagicHomes is a centralised platform to assist customers in decision-making as it includes information on authenticity and compliance of new projects sourced from verified authorities like RERA.
MagicHomes comes at a time when residential sector is experiencing remarkable resurgence after a period of dormancy.
New Delhi: India’s leading real estate platform Magicbricks has launched MagicHomes, an initiative which spotlights all the new projects across key cities of Delhi NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Hyderabad, Kolkata, Pune, Ahmedabad, and Chennai. The project comes at a time when residential sector is experiencing remarkable resurgence after a period of dormancy.
Notably, the surge in residential demand, which is at a decadal high, has driven property prices up by nearly 15% in 2023. It has also spurred an increased interest in new projects, marking a notable trend in the sector.
Commenting on the launch, Sudhir Pai, CEO, Magicbricks highlighted the relevance of MagicHomes amidst the growing interest of customers in new projects.
“The increasing prices of under-construction properties and the high velocity of sales reported by developers underscore the dynamic nature of the market, and reiterate the necessity for prompt decision-making based on reliable information. MagicHomes is an initiative in this direction, serving as a comprehensive directory of new projects offering up-to-date and essential information for seamless decision making by our customers”
How MagicHomes Aims To Help Customers
MagicHomes is a centralised platform to assist customers in decision-making as it includes information on authenticity and compliance of new projects sourced from verified authorities like RERA. With the help of this platform, customers can evaluate projects based on important parameters like master plans, builder history, project construction timelines and updates, price appreciation trends, and inventory details.
It has a selection of nearly 4000 editorial reviews from 280+ influencers and MBTV, India’s first real estate YouTube channel, providing unbiased insights to customers.
Elaborating on the same, Vivek Kumar, Head of Product, Magicbricks shared, “Historically, homebuyers have favored completed projects over new projects due to uncertainties and limited access to information regarding the viability of new developments. However, with the changing preferences, MagicHomes serves as a single-window to assist customers in seamlessly comparing prices, assessing appreciation trends, and accessing comprehensive details of their preferred projects.”
Magicbricks said it anticipates a significant improvement in user experience, with a projected increase in engagement by 20-30%.
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