Growth of Indian economy and development of IT sector in the recent years has made a direct impact on the real estate sector in India. Now with India’s Prime Minister, Narendra Modi’s pro- business agenda to encourage foreign investors the industry is opening up new avenues to build more businesses.
Social media provide a lot of scope for real estate. Let’s have a look at some startling social media facts on real estate industry in India:
1. According to the latest internet usage data from ComScore, Indians spend on an average 16.9 minutes per visit on real estate online per session. This is higher compared to other BRIC countries like Russia and Brazil.
2. Real estate generated 4.6K conversations on social media last month.
3. Kolte Patil Developers has the highest share of buzz among the players in the industry with clear 30% share of voice, primarily because of the recently announced Q2FY15 revenue. Omaxe contributes 17% of the buzz closely followed by DLF at 15%.
4. Sobha Developers are the top performer on Facebook with the highest number fans and the most engagement. Other players are struggling to catch up.
5. Real estate developers need to do better on Twitter. There is no clear leader on Twitter, yet Raheja Developers and Earth Infrastructure Ltd lead in the number of followers, while the mentions for CBRE is the highest.
Despite all the buzz and recovery of market conditions assurances, it is said that the festive season failed to bring cheers to the industry. Home buying now has become a very cautious activity and unlike the general consideration that festive offers attracts more buyers, this year we saw some changes.
What do you think the industry is headed?
How well is the pro-agenda of foreign investment working?
Or is it ever going to work at all?
Share your views with us.