Extending the group buying concept to realty sector!

June 25, 2011 - PRLog -- Websites offering discounts of 50% or more on restaurant meals, spa treatments, haircare and so on have been a rage from some time. Consumers sensing that the deals offer 'value for money' have been quick to lap up.

These websites have leveraged the power of internet to bring together people looking for generally inexpensive products and services. Now, some Builders in India's metros believe that the depressed realty sales can be stimulated through discounted price deals to group buyers and a start-up DealFlats.com assists them in this regard.

These websites have leveraged the power of internet to bring together people looking for generally inexpensive products and services. Now, some Builders believe that the depressed realty sales can be stimulated through discounted price deals to group buyers and a new start-up assists them in this regard.

DealFlats.com features deals for flats and apartments in Mumbai, Pune, Bangalore, Chennai, Delhi-NCR and Hyderabad. Generally, the deals offer a price benefit of around 10% on the market price prevailing in that area for a flat with similar amenities. Visitors to the portal are expected to browse through real estate deals listed and express interest on any property deal that they like. Once the required number of interested persons sign on, the process moves ahead.

Builders are burdened by unsold inventory and soaring cost of borrowed funds, whereas buyers are put off by high property prices prevailing at present. Group buying deals could be a win/win proposition to both sides.