Developers' body launches website to economise costs

In order to help developers in a depressed property market, the apex real estate body in the city Confederation of Real Estate Developers Association of India-Maharashtra Chamber of Housing Industry (CREDAI-MCHI) has decided to get rid of middlemen and procure construction raw materials and even services for constructing a building directly.

MCHI has made a website listing all such details of the plan for developers. They say this portal will help developers in economising the expenses and improve the quality of construction as they will have goods at competitive prices. The fall in procurement costs can then be passed on to homebuyers and investors.

The web platform portal named 'WeProcure.in' aims to facilitate proper communication and encourage business between developers, allied industry and their procurement teams to benefit from aggregated price discount. The main objective is to enable developers to directly interact with industry partners who supply raw material and services and get the best deal for the finest brands all under one platform.

Nayan Shah, President, CREDAI- MCHI stated that it is an effort taken to provide value-added services to end-users. "The developer community due to such initiatives would be able to get the best products and services at a much-discounted rate from their industry partners. The reduction in the cost will be passed on to the final consumers," he said.

Via this portal one can get access to around 14,000 products in 25 broad categories. "We also aim to organise training programs, conduct study tours and workshops to create awareness of this platform at various forums," said Akshay Agarwal, co-convener, procurement wing, CREDAI-MCHI.

A portal like this can cut unnecessary supply side constrains and delays developers face during the construction stage and also save them hefty middlemen commissions. Construction cost forms the biggest share of expense in real estate projects. Homebuyers can also benefit from lower prices, expected to be passed on by developers.

Real estate sector in the city has been underperforming due to subdued demand and high unsold inventory.

WEPROCURE.IN

Portal aims to facilitate proper communication and encourage business between developers, allied industry and their procurement teams to benefit from aggregated price discount