IndiaProperty.com expands footprint into Tier II & III cities property market

Chennai, December 6th 2011: IndiaProperty.com, the real estate portal of Consim Info, India’s leading internet business group, announced that it will consolidate its position as the leader in the online market for new properties in India, by increasing its current focus on this segment and in addition penetrating the growing property market in Tier II & III cities across regions. As a first step, Indiaproperty.com launched a special, separate segment listing more than 800 properties and 50 new residential projects in smaller but fast growing cities across regions, such as Nasik, Jaipur, Mysore, Vijayawada, Madurai, Vishakapatnam, Trichy, Coimbatore, among others.
According to a report by CRISIL Research, cities like Bhopal, Bhubaneshwar, Coimbatore, Indore, Jaipur, Lucknow, Surat, Vadodara, and Vishakapatnam among others are expected to add more than 354 million sq.ft of residential development over the next three years. Large builders like DLF, Unitech, Parsvnath, Omaxe, Ansals and Emaar MGF have already diversified into these cities with an eye for future growth. More than 18000 crore worth of sales is expected to be generated from these cities in 2011-12. These cities are attracting big developers because of their considerable price stability and growth prospects. While prices of homes in large metros have seen a huge jump of 25-30% over the last two years, the tier II cities have seen a moderate price increase of 10-12%.
Announcing the launch, Ganesh Vasudevan, Vice President and Business Head, Indiaproperty.com said, “Small towns and cities are experiencing rapid economic growth in real estate which could be attributed to improvement in infrastructure, rising employment opportunities and improved quality of life. Investors and developers have been shifting their focus to smaller cities and towns and these emerging cities are likely to lead the transformation of the Indian real estate sector moving forward. As the big cities and metros become saturated and land and realty prices become too high to touch for the large majority, smaller cities will experience a housing boom to target new segments of customers.”
“As the leading online property portal in the country, we wanted to make sure we cater to this growing market and our initial success validates the huge need in this segment. Indiaproperty.com is the first and the only real estate portal in India to specifically address the Tier II & III city property market and we are sure our expansion of footprint in this segment will help us consolidate our position as the country’s leading online market for real estate”, he added.
Indiaproperty.com has over 3000 new properties and 450 new projects listed pan-India and has witnessed a 100% increase in traffic since April this financial year. The portal has crossed the 2 million mark in registered users with 150,000 unique daily visitors and more than 2 million page views a day, firmly establishing it as the number one property portal in India. Indiaproperty.com aims to penetrate further across cities and increase its customer base to reach 5 million registered users by March 2012.

About IndiaProperty.com
Indiaproperty.com was launched in 2006 by Consim Info. Pvt. Ltd., India’s leading internet business group with 40 million monthly visitors and leadership presence in key categories. The group currently owns and operates BharatMatrimony and has 15 regional portals; exclusive matrimonial sites like PrivilegeMatrimony, EliteMatrimony and CommunityMatrimony.com which comprises of over 350 community matrimony sites. Consim is an open, hierarchy-free organization that believes in giving every individual equal respect and dignity. In 2009 Consim received the Red Herring 100 Asia 2009 award and in 2010 went onto bag the Red Herring 100 Global Award. The company was listed as among the top 50 of top 100 IT innovators by NASSCOM in 2009 and was Deloitte Fast 50 winner in 2008 and 2009.
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