Real estate conglomerate Puravankara Limited today announced its home exchange plan for the home sellers who are looking to upgrade their houses.
The initiative, part of Puravankaras flagship expo - 'BIG 72Hrs', attempts to mimic consumer behaviour in the automobile industry-- to 'Exchange an old car for a new one'--, the company said.
Billed as first-of-its-kind initiative, Purvankara will hold a three-day expo 'home exchange plan' here from June 15.
It also intends to organise another event for the houses on resale sometime later.
Purvankara Chief Operating Officer Anand Narayanan K B said there was a belief that developers were finding it difficult to sell their inventory while on the other hand there were customers who intended to upgrade their existing homes without knowing how to go about it.
Thus, thecompany decided to have a resale programme.
Narayanan said, "We cannot replicate the automobile exchange drive since real estate is a nascent industry. It takes lots of efforts to sell any home or plot. We will notbuy the property but we will help sell the property at abetter price."
Puravankara will carry out third party evaluation ofthe property to fix the rate.
It has tied up with 99acres.com. and housing.com, the two real estate online portals dealingwith selling properties.
The properties that come for exchange will be advertised in the premium listing for six months.
The firm has also tied up with six major real estate agents of Bengaluru.
"First time in India we are going to conduct a resale home mela. Properties that come for resale will be marketed there. We will also help getting loans against the existing property," Narayanan said.
Under the scheme, the realtor firm will help interested people sell their properties in any part of the country to buy any Puravankara property.
Narayanan said that after Bengaluru, a similar event would be organised at Chennai after a week or two. Later, it would be extended to five other cities where the company has a presence, he said.
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