Group buying: A good strategy in real estate sector

ET Bureau; Amit Shanbaug

Group buying is typically a good strategy, be it for travel deals or buying consumer durables, as it can help you get discounts ranging from 5% to 25%. More recently, companies such as Groffer.com and Home Buyers Combine (HBC) have taken the lead in extending this principle to real estate. As a home buyer, you can bag a discount of up to 30% by tapping these companies.

Take 28-year-old Swapnil Wagh. The Pune-based software engineer with Cerillion Technology had little hope of wrangling a rebate when he was looking for a house. "There is a huge demand for houses and the developers are very rigid about offering discounts in Pune," he says.

Then a close friend suggested contacting one of the group buying companies in the city. "I bought a 1,000 sq ft house through such a company and got a discount of Rs 60,000 on it," he adds. He mentions that some 50-60 other members bagged a similar deal in the same project.

Also check: Real estate emerging as a significant asset class | Posted abroad? Buy property, the NRI way

Submitted by: Business India

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Source: http://www.24hoptions.com/2011/08/group-buying-a-good-strategy-in-real-estate-sector/

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