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Realtors bank on e-launches to generate sales amid coronavirus crisis

Puravankara, Oberoi, Shriram trying e-launches to fulfil pent-up demand

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Real Estate  | Realty estate

Samreen Ahmad & Raghavendra Kamath  |  Mumbai/Bengaluru 

The price of a residential unit, on an average, is 9-10 times annual income in a city like Mumbai, and about six-seven times in most tier-one cities
Experts say several large brands and corporate developers have done a reasonable job in moving their entire customer experience online by creating products that are solely customer centric

Faced with lockdown in many cities and expecting a pent-up in demand, property developers are looking to launch their residential projects online.

A number of developers such as Puravankara, Oberoi Realty and Hiranandani are experimenting with online launches.

While Bengaluru-based Puravankara has already e-launched two projects, Mumbai-based Oberoi Realty is gearing up for its first e-launch in Mumbai.

Puravankara, which e-launched two projects Purva Atmosphere and Provident Woodfield on Saturday, is expecting a booking of up to 80 per cent for these properties. For Purva Atmosphere, the 12-acre luxury project, the e-launch process took 20 days of planning when the product was revealed piece by piece to customers who had shown interest on the website and through calls.

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First Published: Sun, June 07 2020. 12:29 IST