Over 500 bookings worth Rs 300 cr at Magicbricks online home festival

The Great Online Homes Festival (GOHF) that concluded on July 27 elicited a good response from the customers. An initiative of Group M, the festival was organised by online real estate portal Magicbricks and powered by Google

According to a press release, the 10-day property fare generated more than 50 lakh visits resulting in over 10 million minutes spent by the visitors. With a total of 9 million page views being generated, resulting in property sales worth Rs 300cr. and 500+ bookings online, GOHF scaled milestones that no other such event has ever received, the release said.

During this event, GOHF had properties ranging from Rs. 15 lakh to Rs. 2 crores with attractive offers that were not available offline. While queries were generated across all price ranges, online bookings were primarily seen for those ranging between Rs. 40 and 80 lakh.

Sudhir Pai, CEO, Magicbricks, said, “The successful conclusion of GOHF marks an important milestone for the Indian real estate sector. We are overwhelmed by the record-breaking response from customers, which signals a paradigm shift in the customer psyche so far as the decision of online property purchase is concerned.”

Nitin Bawankule, Industry Director, Google India, said: “Success of Great Online House Festival by Magicbricks reiterates, that Internet can unlock the value by overcoming the inefficiencies in the offline model and offering a rich, meaningful and immersive experience to real estate buyers on the Internet in both domestic Tier 1, Tier 2 cities and NRI audiences.”

“We are delighted with the response from GOHF”, said Sachin Agarwal, CMD, Maple Group. “In a short span of 10 days we sold 40 flats and some more are in discussion for closure for the most upcoming areas of Wagholi Annexe & Chakan Taelgaon projects.”