Magicbricks takes clear lead over competitors

Chandigarh, 13 April: Magicbricks – India’s leading and most innovative property portal – continues to retain its dominance in the online realty space with the latest scores from ComScore showing 3.2 Crore total unique visitors and 1.6 Lakh average daily visitors since Jan’ 15. The closest competitor lags behind with a large gap, as much as 30% behind on UVs and 47% on Average daily visitors.
The core platform has seen a significant scaling up during the year. Overall listings jumped from 8 Lakh in Jan’15 to over 13Lac in Mar’16. Number of owners on the site have increased to 3.4 Lakh, brokers to over 38,000 and Builders to over 7,700. Magicbricks is now the largest property portal by far
The online realty sector has seen a flurry of activities from new players to attract customers, but despite strong competition, Magicbricks has maintained its lead by offering innovations such as Travel Time Search, Insiders Club for customers and E-Auctions for both developers and customers to sell and procure properties without hassle. Magicbricks has also recently acqu-ihired Properji to strengthen its consumer proposition by offering in-depth information and analysis of projects that help consumers to choose the project that best suits their need.
Mr Sudhir Pai, CEO – Magicbricks.com, said, “We launched the portal with a vision to help customers and developers alike to sell and buy property, conveniently. By capturing 40% market share in a highly-competitive space, the Company continues to strengthen its leadership position. In the customers’ mind space too, Magicbricks commands more than 54% ‘top-of-the-mind’ recall. This attests to customer confidence in our products and the brand. Accordingly, we will continue to innovate and introduce the best products in the market for all our stakeholders.”