There is a public perception that what has transformed this once non-descript city into thriving metro city is the gulf money since a large number of Kochi residents are working in the gulf region. However, Kochi property market is not being driven by gulf money alone; this could be only a reality in the luxury segment.
This home buyers’ outburst over the media hype & industry reaction with reference to reduced GST is not an exception. Across the country the home buyers are questioning how the GST reduction has made the houses affordable in the cities where the jobless growth is fast turning into job loss de-growth. This is over and above the fact that the property prices are way beyond the affordability index.
The Indians seem to be quite aware of the challenges of mass housing, as is visible with nearly half of the respondent, 48 per cent questioning when land acquisition is going to be tougher how housing for all will be a reality.
The Indian real estate may not be attracting the best of talent, yet it is still not open to professional practices. Track2Realty survey finds that it is still the employers’ market and employees continue to crib a number of issues, including poorly structured compensation package.
As per ANAROCK data, the top 7 cities currently have a total stock of 5.6 lakh delayed housing units worth a whopping INR 4,51,750 crore. These units were launched either in 2013 or before that. Lakhs of buyers across top cities – particularly MMR and NCR – have been left in limbo, leading to inconceivable mental stress and financial pain.
The project named Atelier Greens, focuses on offering lifestyle beyond the carpet area, drawing inspiration from making spaces where art of living grows naturally.