Tata Value Homes, a 100 per cent subsidiary of Tata Housing, has launched a new exclusive ecommerce platform for home buying; the platform www.Tatavaluehomes.com will allow global access to its properties in India. It is eyeing up to INR 1,000 Cr. in revenue by FY2015-16.
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”
The company had earlier tied-up with Snapdeal for selling its properties online.
Tata Value Homes has so far sold over one million sq ft of residential space, which translated into over 700 units, generating over INR 300 Cr. worth revenue.
The company has developed properties in cities like Ahmedabad, Bangalore, Mumbai, Pune and Chennai, which range between INR 29.9 lakh to INR 59.9 lakh depending on the size of the apartments that range between 1 BHK and 3 BHK.
As per the company, online sales accounted for 20-25 % of the company’s total sales. “In less than two years, we expect that 45-50 per cent of our customers would prefer to buy online. Around 25 per cent of the buyers were NRIs in 2014, doubling from 12 per cent in calendar 2013,” Brotin said.
Based on the in-depth analysis of customers who have booked Tata Value Homes online in the last year, it 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.
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.
The new platform will enable buyers across the world to book homes in 3 easy steps: one just need to “Select Location – Review Details – Book online for just INR 30,000.