Super Luxury Homes Not Sold on Best Real Estate Websites in India

When buyers want to buy the best real estate in India they do not necessarily turn to the best real estate websites in India to do so. Although many premium properties are listed on web portals, some even with an asking price of forty or fifty crore rupees, yet just as one may best find a life partner through a common friend or acquaintance, one may also find the best house through someone already known to us.  

The Ground Reality

It would be difficult to find a buyer for a property one wants to sell for several tens of crore’s in the secondary market by using only a commercial real estate website or portal. Many such properties online remain listed for months or even longer; a quicker way may be to ask someone in one’s friend circle that there is a need to offload a certain property. Additionally selling a house which is valued at forty crore’s or above is in itself a full time job, knowing the person one is selling to personally or through a friend can relieve much of the burden one faces when one decides to sell such a property.

If a property needs to be sold secretly, advertising on a real estate website may also prove to be doubly damaging.

The Post Demonetization world

Selling big ticket properties in India post demonetization may actually be easier than it had been pre demonetization as the chances for fraud have been somewhat diminished. The cash component demand by many buyers has diminished and many even sell big ticket homes today mentioning to the buyer that he or she may feel free to pay any remainder due to the seller in a few months to one year. As there is still a dearth of cash more than three months after demonetization, wealthy owners of real estate are willing to dispose of a property stipulating that they can be reimbursed the balance cash component once the buyer has more free cash in hand.

The Owners of Luxury Properties

Most of those who own super luxury properties or houses in India tend to own more than one such property. There is a certain luxury such households enjoy in that they are usually not in a dire need to dispose of their home and can therefore bid their time before accepting an offer.  Creating a property site in India that can promise anonymity between buyers and sellers may be needed to allow for the sale of exceptionally large ticket size houses.