Bengaluru, Nov 5: With mobile wallets being used for home bookings, real estate is all set for a paradigm shift in the manner real estate is transacted in India.
Tata Value Homes has tied-up with MobiKwik, a mobile payments network, to allow mobile payments for home bookings. It allows customers to book homes across the country for just Rs 10,000 on paying through the MobiKwik Wallet.
Brotin Banerjee, Managing Director and CEO, Tata Housing, said, "At Tata Housing, we have constantly yearned to stay ahead of the curve. This first of its kind collaboration with MobiKwik is unprecedented in the history of Real Estate industry.
"The success of the online platform has strengthened our belief that accessibility and convenience of the mobile platform makes it an ideal medium for customers. With more than 50% of the home searches happening on the internet and specifically on the mobile device, this will be the next game changer for the real estate industry", he said.
Commenting on the partnership, Mr Bipin Preet Singh, Founder and CEO, MobiKwik said, "As Tata Value Homes ties up exclusively with MobiKwik, we are thrilled to usher in a completely new and instant way of booking a home. Most importantly, MobiKwik simplifies the payment process, which is often a deterrent for people looking to book a property online. MobiKwik and Tata Value Homes would empower every potential home buyer in India to bring his/her dream alive with a reliable, easy, transparent, and fast payment method."
Mr. Bipin Preet Singh added, "As per a study commissioned by Google, internet influenced real estate transactions worth USD 43 billion last year, of which USD 31 billion was residential. With online real estate buying becoming a reality, it is an indicator of the times to come. The online real estate industry, estimated to be a USD 85 billion market by 2020 as per industry reports, offers a huge opportunity to us and we are excited to further our reach in the real estate sector."
Tata Value Homes has already sold 2000 homes online through digital platforms such as Facebook, Snapdeal, and housing.com.