Global Buyers (NRIs & HNIS) find Mumbai property far more attractive than Bengaluru. Track2Realty Global Buyer Report 2020 finds that out of the Top 10 National brands, 5 have been voted from Mumbai, followed by 3 from Bengaluru and 2 from the NCR.
A large share of global buyers (NRIs & HNIs) don’t wish to invest in the Indian property market. 78% of them have their own reasons to look towards overseas property market. The recent banking woes have further dented their confidence to invest in India. They also feel that the property prices in India are way too higher, compared to the overall value proposition on offer.
Inconsistency with the policies of the government, ever increasing taxation and property delivery default is making both the NRI & HNIs quite apprehensive. The NRIs remittances back home are mostly limited to family expenses than any long term investment now. Poor rental returns has been cited as another reason to stay away from the Indian property market.
The Global Buyers prefer overseas properties and the top choices for them in order of preference are: Dubai, London, Singapore, Canada, New York, Malaysia, Mauritius, Cyprus, Sydney and Thailand.
The choices and concerns of the NRIs and the HNIs vary in the Indian property market. They nevertheless vote more or less for the same brands in terms of the developers’ brand equity and overall trust profile.
Contrary to the brand rating study of Track2Realty where 5 out of the Top 10 brands have historically been from Bengaluru, when it comes to the choice of wealthy Indians Mumbai stands as the first choice of investment. Five real estate brands in National Top 10 are from Mumbai, followed by 3 from Bengaluru and 2 from the NCR.
In terms of the overall rating & ranking, Top 10 National brands in the Indian market in order of preference are: Sobha Limited, Godrej Properties, Prestige Group, Embassy Group, Ashiana Housing, K Raheja Corp, DLF, Sunteck Realty, Oberoi Realty and Piramal Realty.
Another significant trend has been noticed in the North India where it is not Gurugram but Noida that is the first choice. Out of the Top 10 brands, 4 are from Noida market and only 2 from the Gurugram market. Interestingly, 2 Mumbai-based developers have emerged as leading brands in North India; and 1 each from Bengaluru and Bhiwadi also figure into the top league.
The leadership chart of North India are jointly held by DLF Limited and Ashiana Housing. The other Top brands from North India are Godrej Properties, ATS, Mahagun, ABA Corp, Central Park, Sobha Limited, Gulshan Homz and Mahindra Lifespaces.
In South India 8 out of 10 brands are from Bengaluru and the rest 2 are from Chennai market. None of the Hyderabad-based brands have figured into the top picks of the Global Buyers. The brand leadership is Sobha Limited, Prestige Group, Embassy Group, Brigade Group, Godrej Properties, Puravankara Limited, Akshaya Homes, Total Environment, Mahindra Lifespaces and Salarpuria Sattva.
In West India, Ahmedabad-based Adani Realty is the only brand outside the core geography of Mumbai. The Top 10 brands are K Raheja Corp, Godrej Properties, Sunteck Realty, Oberoi Realty, Piramal Realty, Hiranandani Group, Kalpataru, Adani Realty, Mahindra Lifespaces and Shapoorji Pallonji.
The Top 10 brands of East India are Ambuja Neotia, South City Projects, Forum Group, Siddha Group, RDB Realty, Srijan Realty, PS Group, Unimark, Shrachi Realty and Mani Group.
The Top 10 brands voted by the NRIs are Godrej Properties, Prestige Group, Sobha Limited, K Raheja Corp, Ashiana Housing, Embassy Group, DLF, Oberoi Realty, Sunteck Realty and Piramal Realty.
The Top 10 brands voted by the HNIs are Sobha Limited, Godrej Properties, Prestige Group, K Raheja Corp, Ashiana Housing, Embassy Group, DLF, Sunteck Realty, Oberoi Realty and Piramal Realty.
Track2Realty is an independent media group managed by a consortium of journalists. Starting as the first e-newspaper in the Indian real estate sector in 2011, the group has today evolved as a think-tank on the sector with specialized research reports and rating & ranking. We are editorially independent and free from commercial bias and/or influenced by investors or shareholders. Our editorial team has no clash of interest in practicing high quality journalism that is free, frank & fearless.
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