Track2Realty Exclusive: Rohtas Goel, CMD of Omaxe agrees that the repositioning is more realistic now, mainly due to the fact that the real estate in the region is more buyer-driven now. The change in market dynamics has similarly altered the demand scenario and developers have begun to take cognizance of the same.
Track2Realty Exclusive: The perception of a sluggish market in Delhi-NCR is actually borne out of mistaken understanding of the developers’ marketing push.
Track2Realty: The past decade has witnessed a period of economic transformation of the Indian real estate industry. After the global financial crisis, the pace at which the industry has bounced back is magnificent. Our real estate ecosystem typically comprises of architects, developers, Government & regulatory authorities, financial institutions, private equity players, other funding agencies, brokers, property consultants and of course most importantly the buyers.
Track2Realty: The type of marketing strategies that Indian developers employ to sell their products in a tough market may often seem strange to property marketers in other countries. Nevertheless
Realty sector may appear to be bullish and project that downside is over with rosy forecast ahead, yet the decline in fortune is far from being over. As a matter of fact, the learning in the last four years has made most of the leading players to restructure their project portfolio and shed the flab.
Nearly seven out of ten, 68 per cent, home buyers prefer ready-to-move property because they can avail for tax benefits only after the possession of the house. Saving tax on the EMI’s is one of the big reasons why nearly eight out of ten, 78 per cent, plan their house buying.
DLF now extends its footprints further by launching a plotted development, Hyde Park Estate at DLF New Chandigarh and Park Place, a luxury apartment complex in Jalandhar.
Less launches, pragmatic marketing, innovative packages, product bundling and online brand promotion, the real estate developers in Mumbai are leaving no stone unturned to beat the inflationary pressure.
Mukesh Ambani has sold his plush 21-storey building in the commercial district of Nairobi to the World Bank for nearly $23 million (approx Rs.115 crore), making it the largest single property deal in East Africa.
The Indian real estate market has matured to the extent that it is seen as the best investment instrument, leaving behind gold and other traditional investment options.