As part of its Awaas Yojana, the government launched an e-commerce like portal for the purchase of ready-to-move-in flats in cities across India. Real estate developer body National Real Estate Development Council (NAREDCO) launched the HousingForAll.com this week and here's what we know so far.
- 14 January 2020: HousingForAll.com was officially launched by Housing and Urban Affairs Secretary Durga Shanker Mishra.
- 15 January to 14 February: The portal opens to builders to list their projects.
- 15 February to 29 February: Website opens for buyers to search and shortlist their favourites flats.
- 1 March to 15 March: Buyers can book flats using the "Book Now" feature similar to e-commerce websites. Houses will be available on a 'first come, first serve' basis.
- 16 March to 31 March: Finalise transactions and complete documentation
Around 1,000 projects of affordable housing are estimated to be listed on the website. According to reports, over 1 lakh ready-to-move-in homes are currently available in the market and nearly 2.75 lakh new ready-to-move-in homes are expected to be added in over the next year.
CREDAI-MCHI, CII, FICCI, ASSOCHAM, Builders Association of India (BAI), and Indian Merchant Chambers (IMC) are also partners in this initiative.
Reserving what you like
Buyers will be able to directly reserve a unit from the portal on making a refundable deposit of Rs 25,000. The buyer will also get a money-back guarantee where their initial deposit made on the portal is completely secured and fully refundable if the buyer selects not to purchase the unit.
Customers will also be notified if any units they have shortlisted are already sold.