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. Now you can subscribe our YouTube Channel @ https://www.youtube.com/channel/UClwlWQn4MUB7uVbQKsNEJzg
Coercing the buyers at the project Victoryone Central in Noida Extension to pay arbitrary demands, the builder is flouting all business ethics, established market norms and his own one-sided Builder Buyer Agreement (BBA).
When Gaurav Choudhury, a journalist by profession, bought an apartment in Noida Sector 137 along Noida-Greater Noida Expressway, he was confident to invest in an organized property market where the master plan being rolled out by the Noida Authority could tell him about the present and future developments.
A section of home equipment suppliers even admit that over-dependence on builder contracts that ensure bulk buying, going overboard on commitments and under-utilisation of retail network are the major reasons why they are trapped in a vicious circle today.
There is a growing debate within the realm of second home market as to what is the psychograph of the buyer. Whether they actually go for affordability or location or amenities, or all these factors collectively drive the second home buyers. These are the emerging market realities and till recently the property investment pattern across the country in general and Mumbai in particular suggested that there existed a symbiotic relation between the second home and an affordable home.
Secondary market attracts a significant number of transactions and as per a rough estimate nearly two third home buyers get an apartment in the secondary market.
Second home market is a new phenomenon in urban India but has emerged as a sunrise market in cities like Mumbai. With the ever changing trends the demand for holiday homes has varied according to the consumer’s needs and tastes amongst various cities. Hence, there cannot be a one size fits all answer to the dilemma of location or affordability. For many a second home in India is housing which offers opulent living spaces and ultra-modern luxurious amenities; whereas for others it is a safe investment.
As per the data available with Track2Realty, the Malayalese and other South Indian NRIs are nowadays investing into Kochi and Coimbatore than Bangalore or Chennai. Gujarati NRIs are investing into Ahmedabad and Vadodara than Mumbai. Mumbai-born NRIs are investing into Pune and Nashik than Mumbai. North Indian NRIs are investing into Noida and Ghaziabad than Gurgaon. One common thread into all these investments is scaling down of property segment – from ultra luxury to mid-segment and premium housing.
Child friendly homes are ideally suited for parents planning families or those with young children. While this strategy may narrow the market somewhat for the developers since the target buyers is a small group, these homes are ideally suited to people wanting to rent homes as well since they provide a ready environment for the parents who have to deal with many challenges when moving to a new city.
In a slow moving market where the focus of the developers is to clear the inventory than new launches, Godrej Properties has bucked the trend with two back-to-back launches in Bangalore.
In Pune, on the contrary, IT/ITeS may be one of the high demand zones for education, yet it is not that only IT/ITeS driven educational institutions are flourishing. As a matter of fact, and industry players agree to it, education sector has grown in the city in all the segments, be it IT/ITeS or any other professional/vocational education.