Despite lockdown halting all ground activity for marketing and sales, the digital push by developers holds hope for realty business .
Following Corona crisis, online sales have gained traction, with developers rapidly ramping up their digital capabilities. Industry statistics show that top developers have been able to resume around 20% of their business owing to increased digital penetration. A large listed developer has sold 3000 homes worth Rs 2380 cr in Q4 FY 20 despite Corona onslaught.And 17% of the total sales happened in the second half of March. A leading Institutional Channel Partner successfully managed Rs 105 cr of home sales during lockdown. Many developers who have leveraged their digital operations well, are hoping for good quarterly results.
Says Pradeep Aggarwal, Founder & Chairman, Signature Global, and Chairman, ASSOCHAM- National Council on Real Estate, Housing and Urban development ” Digital push by companies will help them tide over current turmoil more effectively. Going forward, the trend of digitally-enabled property purchase will gain prominence .The integration of all digital operations of the company will be key to run the organizations efficiently.