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Snapdeal Diwali Fest: Nearly 10,000 People Register to Buy Home

New Delhi: Online marketplace Snapdeal on Friday said nearly 10,000 customers registered to purchase property on its platform during its pre-Diwali home shopping festival.

“The registered customers will be guided by participating developers and reputed property consultants who will arrange site visits and help close these transactions,” Snapdeal said in a statement.

Snapdeal organised the online ‘Diwali Home Buying Fest’ during November 3-9, offering discounts on purchase of flats in over 200 projects across major cities.

India’s real estate sector is facing a huge demand slowdown for last few years, resulting in poor sales, liquidity crunch and delays up to 5 years in project execution.

“Close to 10,000 customers registered to buy real estate on its platform in the run up to Dhanteras,” Snapdeal said.

“Customers from Delhi NCR, Mumbai, Navi Mumbai, Thane, Bangalore, Kolkata, Chennai, Hyderabad and Pune have initiated the purchase process with partner builders who tied up with Snapdeal. The average value of each house booked on the platform is Rs. 55 lakh,” it added.

Over 1,000 customers registered to avail home loans through Snapdeal’s financial services platform – Rupeepower. Developers which took part in the online property sale included Godrej Properties, Brigade, Mahindra Lifespaces, IREO, Artha, Ramky Estates, Central park, Sunteck Realty, Rustomjee, Lavasa Corporation, Nirmal lifestyle, Ajnara and Mahagun.

Exclusive festive offers on participating projects during this sale included price saving deals of up to Rs. 500 per sq ft on base selling price, waiver of car park reservation charges, free modular kitchen and ACs in bedrooms.

“We were the first marketplace to introduce the real estate category and this Diwali has affirmed our commitment to further increase our assortment under this category. We are changing the way India shops in each and every category of products and services,” said Tony Navin, senior vice president-partnerships and strategic initiatives at Snapdeal.