Two-wheeler loans, consumer durable loans, gold loans, vehicle finance and loan against property are the segments where NBFCs have a very strong presence across the country and enjoy a much larger share than the public sector banks.
In India, when the going was smooth a number of leading developers tried to foray into multi-city operations. Most of them had to exit the expansion strategy sooner than later. It rather proved to be the first nail in the coffin for some of these market leaders by size.
The Indian residential market volumes spiraled down in terms of demand and supply almost every successive year in this decade. From a high of 480,000 units in 2010, the supply last year stood at mere 103,000 units across the top 8 cities.
A section of analysts maintain that it has been proved across the industries that quality audit by third party improves the product or services being offered if it has been implemented in right manner and objectives to improve the quality. As product or services gets improved in standard of quality at consistent basis then perceptions of customer towards the management also improves.
The ancient Chinese curse ‘may you live in interesting times’ certainly has a lot of pertinence to Indian real estate today. These are doubtlessly ‘interesting’ times for the sector, which has transformed significantly over the last decade. The pace of transformation has been accelerated further by the Central Government’s reformative steps aimed at ushering in ‘Acche Din’ to the realty sector.
When it comes to assimilating AI, the Indian property industry is not far behind. From the way property seekers scout for property to offering probable buyers with applicable information to investigating property values – all the phases of property procurement are now powered by AI and machine learning.
Meraqi’s latest sector specific research report ‘Emerging Residential Niche Products’ reveals the potential of the growing alternate residential real estate market in India, analyses investment trends in niche categories like Student Housing, Micro units and Senior Housing emerging across the Tier I cities and forecasts the future trends in the segment.
What has been an interesting finding during this fiscal year is the fact that a number of relatively smaller developers but with impeccable track record of delivery and consumer satisfaction are breaking the myth that it is the sheer volume and premium that elevates a company at the Brand Leadership Chart.
The Indian real estate market has always been notorious for its lack of transparency, and the changes in recent times has been less than desirable. As India aspires to get clean money into the sector, the foreign funds too have high standards in terms of service quality and clarity.
Till a decade back such was the mad rush for raising money in the capital market that even the real estate companies with limited presence in select micro markets started launching projects across the country to showcase a pan-India presence. Significant increase in housing demand, organized retailing and liquidity boom from 2003 to 2008, led to huge increase in land prices and real estate values and most real estate companies had a great run.