This paper would explore, how information technology i.e. e-commerce and web portals in particular are affecting real estate industry in India. Real estate in any part of the world is that industry where the transactions of high value occur. This is that industry where nobody without any experience would try to put its hands. In this industry every deal is based upon the information. The more information you have the more comfortable you will be. In the older time, even today, the deals in real estate market were being done with the help of brokers and the agents. Nobody would dare to invest money in real estate market without any experience of handling such transactions. But now, with the advent of information technology, websites and e-commerce portals, obtaining information has become easy. IT, today, is changing the way the deals are done in real estate industry. This paper makes an attempt to find out what kind of changes IT is bringing to real estate industry and whether these changes are beneficial or detrimental to the industry.