Organized around the theme to celebrate Indian Independence Day and conducted simultaneously in 6 countries and 16 cities globally, Square Yards, India's largest proptech player, concluded its mega realty event 'Azadi tour' in the month of August 2018 with a whopping 950 transactions resulting in Rs. 600cr worth of property sold in just under a month.
The success of the event is being termed as an industry benchmark and a remarkable sign of revival in Indian Real Estate. The event was conducted in 16 cities namely Dubai, Abu-Dhabi, Doha, Muscat, Sharjah, Singapore, Noida, Gurugram, Mumbai, Pune, Kolkata, Bengaluru, Hyderabad, Vizag, Jaipur & Lucknow. This month-long campaign resulted in more than 50 million impressions and an unprecedented 150.000+ registrations and 7500+ clients walking to the event venues.
In one of the most innovative and brilliantly crafted marketing campaigns seen in real estate industry, the event was christened as 'Azadi Tour' that offers the prospective home buyers independence from rent, brokerage and stress of house hunting.
The idea behind the Azadi Tour was to provide customers with a chance to own their home on their terms. Square Yards' worked with leading Indian developers to structure very unique & tailor-made 'once in a lifetime' offers available only for spots closures at the event venues. The offers ranged from slashed prices, heavy discounts, rock bottom booking amounts, extra charges waivers, simplified payment plans, chance to win cars, consumer durables and other gifts.
In all more than 35 developers participated in the event with irresistible offers including the likes of Emaar, Godrej properties, Shapoorji Pallonji, Omkar, ATS, Kolte-Patil, Purvankara, Brigade, Gaursons, M3M among others. In addition, leading banks and NBFCs were roped in to offer on the spot mortgage sanctions and fee waivers. Square Yards topped up this happiness for the buyers by introducing a very innovative digital 'spin the wheel' contest with assured gifts ranging from high-end gadgets, luxury consumer durables and automobiles.
Square Yards ran one of the largest digital campaigns with a full-blown digital media blitzkrieg covering social, SEM, display and affiliates modes. Its existing database of nearly 10 million prospective home buyers was also churned based on scientific methods of segmentation and retargeting.
Square Yards' existing sales force of nearly 1500+ people were then asked to call each of the registered person from their mobile App and personally invite them to the event. Square Yards' sales offices were converted to virtual war rooms where every call, interaction and follow up was closely live-tracked through dashboards available on Square Yards' proprietary mobile-based CRM platform.
The event started to a thunderous response on the first day of the GCC leg in UAE, Oman and Qatar. Nearly 1000 people walked in on the first day leading to 100+ spot bookings and savings of millions worth of money.
India and Singapore followed it up in the next two days with a large number of home buyers thronging to these venues to get their dream homes booked at unbelievable prices. Nearly all venues were packed to full capacity and there were queues witnessed at larger centers in metro cities like Delhi-NCR, Mumbai and Pune.
A major sign of broad-based Industry revival was witnessed in relatively smaller cities such as Jaipur, Lucknow and Vizag that had the highest rates of transaction closures. A few projects, especially those in the affordable housing segment, had a total sellout of the available inventory in a little under 24 hours.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)