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Property listing site MagicBricks.com adds deals section; what's on offer?

magicbricks-logoMagicBricks.com, a realty classifieds site owned by Times Business Solutions Ltd, has come up with a real estate deals section on the site. It currently claims to have around 400 property deals (for rental and sale) across the country, offered by brokers, as well as builders.

The deals include a number of offers such as no brokerage; 10-day brokerage fee; 25 per cent payment of total amount and no EMIs till possession; free car parking space; or a free Samsung tablet, iPhone or LED TV, etc., for booking a property.

As of today, the site claims to have around 88 deals in Mumbai, 56 in Delhi-NCR, 35 in Pune, 34 in Chennai, 30 in Kolkata, 19 in Hyderabad, 16 in Bangalore and 17 in Ahmedabad, among others. It also claims that 10 new deals per city will be added on a weekly basis. Users can search for deals according to city and budget. For monetising the deals section, the site is currently offering two types of premium listings – gold and platinum.

Recently, MagicBricks introduced a 'neighbourhoods' feature for adding neighbourhood or locality-specific content. The portal rolled out several content features such as ratings, reviews, detailed maps, photos and videos at the locality level for popular neighbourhoods across major cities.

Angel investor Rehan Yar Khan-backed Groffr.com also offers real estate deals for group buyers. Other key players in online real estate listing space include Housing, CommonFloor, 99Acres, IndiaProperty, HomeShikari, and EasyRenting.

Earlier this month, CommonFloor secured $7.5 million in Series C round of funding from existing investors Accel Partners and Tiger Global Management, a New York-based investment firm. Prior to that, IndiaProperty also raised $7 million (Rs 38 crore) from Canaan Partners and Mayfield Fund.

(Edited by Sanghamitra Mandal)

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