First e-commerce Platform for Home Buyers
Tata Value Homes, a 100% subsidiary of Tata Housing Development Company, announced the launch of the “world’s first e-commerce platform for home buying” – www.Tatavaluehomes.com which will allow global access to its properties in India. The new platform will enable buyers across the world to book homes in 3 easy steps: “Select Location – Review Details – Book online for just Rs 30,000” under the inaugural offer of One Price One Nation. Under this offer customers will be able to buy a particular unit at a flat price across Ahmedabad, Bengaluru, Mumbai, Pune and Chennai. All 1 BHK’s will be priced at 29.9 lakhs, 2 BHK’s at 39.9 lakhs, 2 BHK large at 49.9 lakhs and 3 BHKs at 59.9 lakhs.
Tata Value Homes has sold over a million sq.ft. of residential space, which translates into over 700 units, generating over INR 300 crores worth of revenue in the value and affordable housing segment. Statistics also revealed a paradigm shift towards young investors and home buyers. The average age of buyers has decreased by a couple of years to 29-42 years in 2014 as compared to 31-45 years in 2013.
Based on the in-depth analysis of customers who have booked Tata Value Homes online in the last year, it has been observed that 39% of the customers who booked homes online, did so with intent to live in them with their families. Around 59% of the customers who booked homes online did not consult any brokers or salesmen while making the bookings online. Around 56% of online customers considered the information made available to them online, adequate to make an online transaction. Most notably, for 39% of the customers who booked homes online, a Tata Value Homes was their very first online purchase.
Launching the New Platform, Brotin Banerjee, MD & CEO of Tata Housing said, “Evolution of Indian consumer over the years to embrace the E-commerce platforms has opened up the market for consumers across the globe. With the increasing internet penetration, the new platform builds on the vision of being the largest provider of homes”.
He further added “We have invested in the research and technology which ensures transactional safety, quality and transparency. With this launch we have simplified the platform which makes purchasing homes accessible to Indians, across the world”
Tata Value Homes has witnessed a rising appetite for online sales from tier II markets, which has jumped from 11% in December-January 2013 to 30% in January-October 2014. The online buyers have been from tier II cities in India which included Patna, Chandigarh, Ranchi, Jaipur, Indore, Baroda, Surat, Mangalore, Mysore, Bangalore, Coimbatore, Trichy, Bhubaneswar, Leh, amongst others.
NRIs have been strong evangelists of the online platform with 25% of buyers (between January –October 2014) being from the international markets of The United States of America, United Kingdom, the United Arab Emirates, South Africa, Malaysia, Singapore, Hong Kong and Australia. The boost from this segment has seen a tremendous surge, from a 12% contribution to online sales in 2013 (January-December) to 25% this year.
Tata Value Homes’ unique approach to marketing properties locally and globally is an innovative step within the residential services sector. www.tatavaluehomes.com displays a vast growth potential, and through the unified efforts of Tata Housing, the company aims to meet the increasingly complex needs of clients across the world.