The pan-India survey by Track2Realty finds that that close to two-third, as many as 58 per cent of the real estate professionals admit to suffer some form of depression or general anxiety disorder due to demanding schedules, high stress levels and lack of performance-linked rewards.
A house hunt has always been tedious and challenging for anyone in this country. Imagine the travails of finding 100 apartments to live in. Yes! This has been the thought process when the editorial team of Track2Realty embarked on a journey to find 100 best housing projects relevant for investment in the year ahead.
At a time when attracting the best talent is as challenging as retaining them, and lack of quality professionals affecting the fortunes of many sectors, including the Indian real estate, it is appalling to note that the developers have yet not learnt the value of professionals.
Private Equity funds, famously known as PEs are invested heavily in the Indian real estate. Even though the sector is emerging only gradually from its slowdown, this could be the golden period of PE investments to invest further, as the opportunities being offered are humungous.
Several amendments to the Real Estate (Regulation and Development) Bill, 2015, suggested by the select committee of Rajya Sabha, have now been accepted by the Union Cabinet. This is a major step towards introducing the amended bill in the Rajya Sabha. The bill will bring in much-needed transparency and accountability in the real estate sector.
A few may have succeeded but most of the developers have failed to position themselves right during the slowdown. In the process Track2Realty finds that the brand realty has taken a severe beating, losing the trust of both the end-users and the investors. The brand positioning that differentiates between the two different realty companies is today negligible with developers’ focus to sell. That, unfortunately, is not working for them and commanding premium over the brand reputation today is a far cry. Our team speaks to a cross section of developers, analysts and brand experts who may differ with each other but nearly all agree that sector has to come out of the Catch 22 situation.
From being the governance wild child to maturing into a market influencer, India’s real-estate sector has transformed in the past decade, with a paradigm shift from family owned businesses to corporates along with a few companies listing on stock exchanges. The change began with the government opening doors to Foreign Direct Investment (FDI) in 2005 and then welcoming the next wave of stability as corporate houses brought image restoration for the sector. Led by corporate entities, realty companies soon adopted corporate governance wherein transparency began to trickle down into the system as a norm slowly.
Over 75 per cent of the total 3,540 live projects with total outstanding investments worth over Rs 14 lakh crore attracted by the real estate sector across India remained non-starter as of financial year 2014-15, noted a just-concluded study by apex industry body ASSOCHAM.
In an opaque real estate market where house hunt has been a travail and challenging for most of the Indians, Track2Realty takes up the challenge of finding not one but 100 most promising housing projects in the country. From Bangalore to Chennai, Mumbai to Ahmedabad, and Gurgaon to Kasauli; it has been a worm’s-eye view of thousands of housing projects to find 100 best that could stand out as the investment magnet in this first-of-its-kind study.
Some key findings that indicate the aspiration quotient and standing of the Indian real estate:
88% Indians find real estate is still best asset class to invest
72% believe pre-launch or early stage of construction is best bargain
78% maintain upcoming locations give better returns than prime localities
84% homebuyers are sulking & repent their home buying decision
46% homebuyers have too serious issues with the developer to reconcile