The Effects of the Internet on Real Estate Marketing in Gwadar, Pakistan

Abstract

The paper is about the control of speculations and fraud cases in real estate marketing using the internet. The area under consideration is the new port city Gwadar. The deep Sea port of Gwadar has been constructed with the cooperation of Chinese government in 2002. Gwadar Development Authority has been established in 2003 as a statutory body for the city planning and execution, but not a single piece of land is under control of this Authority. The area has a significant location in the region for investment and also has scenic beauty. People all over the country and abroad are interested in investing in real estate in this area. Currently, it is a small town, less developed, poor infrastructure and far from the main cities of Pakistan. So visiting Gwadar is not feasible for everyone in this condition but on the other hand, there is no doubt that the land of Gwadar is precious for future. Most of the people who can invest in Gwadar but don’t because of fear of fraud cases in the private real estate market. In this paper we have addressed the problem how this land can be made accessible to everyone. I suggested that the internet can be the right mode of real estate marketing in this area with the involvement of No Objection Certificate (NOC) issuing authority (GDA). GDA is making the map of Gwadar on GIS, which can be utilized in this scenario for the benefits of the people. After our survey to the market, it is concluded that provincial government should make a policy that the internet will be the only mode of transactions in real estate marketing in Gwadar with the involvement of government sector. GDA may provide the GIS map of the area and updates about the NOC’s of each scheme on internet. Finally, GDA may use its Computer Cell for providing confirmation email to every investor whether his/her scheme/plot is valid or not.