As I enter inside the under-construction project with less than 6000 apartments spread over 60 acres to be built in four phases, the first visual impression is that the project is a premium or luxury housing. The sports theme-based landscaping, elevated walkways and greenery beneath does not give the impression that the ticket size in this project starts with INR 55 lakh only.
What has made Bangalore real estate market so very different? Has Bangalore been just blessed with climatic conditions, thriving economy of the region and talent pool or the developers in the city have been conscious to learn from the mistakes of other markets?
News Point: Snapdeal has announced a special home buying campaign…
Track2Realty Exclusive: The Tamil Nadu Government must be commended for its focus on infrastructure development; it is a key determinant of the state’s economic progress. So long as the commitment to infrastructure remains, the prognosis for real estate will be good.
Track2Realty Exclusive: The current economic environment is indeed one of the most challenging in recent history. The headwinds of inflation, interest rates, construction costs, and subdued consumer demand have constrained real-estate growth in many micro-markets across the country. Economic volatility aside, I am optimistic about long-term real-estate sector prospects. My optimism is founded in irrefutable realities – the rapid urbanization of India, burgeoning segment of upwardly mobile Indians, limited availability of urban residential housing and unabated aspiration of home ownership.
Track2Realty Exclusive: The real-estate category has taken the product-led path to brand building. Products occupy centre-stage in advertising campaigns; properties serve as brand emblems. Developers build properties, showcase them through advertisements, customers experience drives word-of-mouth, which in turn generates additional customers and on it goes. Through this iterative process, a brand is built. In other words, the brand identity is inherent in the developer’s real-estate footprint.
Track2Realty Exclusive: In the pre-2008 era, print spends were high. Since then the global economic recession and resultant decline in sales have compelled marketers to explore alternative channels. Subsequently, internet marketing which up till then meant having a website, morphed into a lead-generation and branding tool.
Track2Realty Exclusive: Subvention schemes have gained popularity with developers in the North India, particularly after the economic slowdown. The scheme conceived by developers in conjunction with banks, allows the home loan applicant to defer EMIs and interest payments, on a property under construction, for the first two years of the loan period.
Track2Realty Exclusive: The current environment necessitates greater discipline in marketing, steered by a well-conceived strategy. Absorption levels in many cities, both in the residential and commercial segments would indicate that developers are carrying surplus inventory on their balance-sheets.
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.