Going by the developer’s remark, one wonders whether a real estate purchase can be termed as another expensive purchase. In a BMW purchase, for example, the buyer can look & feel the end product before one takes a final call. But in real estate it is only a promise and the product is yet to be produced.
Track2Realty Public Perception Survey, however, proves these assumptions wrong. More than half of Indians, as many as 54%, track the real estate news, analysis and launches even after they have purchase their house. Even more in number, 58%, monitor real estate sector and developers’ performance along with reputation for future investment purposes.
Ever since I got into the hitherto-untouched & challenging business of brand rating of Indian real estate developers, I only get the reactions in extreme, depending upon whether the developer has been rated high or low. After all, every builder is a God’s gift to the world of brand, as per his own make-belief metrics.
Meet Ravi Menon, Chairman of Sobha Ltd and son of PNC Menon whose legacy gives the son liberty to rest in his cabin and enjoy the laurels that the company has earned. But it seems there is something professional in the DNA of this family. Hence, the colleagues respect Ravi as first co-worker in the office whose personal involvement and eye for detailing is what has helped brand Sobha to get to the next level of brand reputation.
The quintessential offering of this project is views of the 225 acre Mahalaxmi Racecourse, uninterrupted views of the Arabian Sea on the horizon, Willingdon Golf Course and the expansive Mumbai Harbour.
Those who know Puravankara family are not surprised. After all, he grew up in a home where every dinner discussion was about business and opportunities, which would invariably veer towards brick, mortar and realty. He was mentored by a passionate and focused visionary father whose passion and perseverance made Ashish understand what it takes to build vibrant communities and enriching lives by offering families their dream of buying a home.
No practitioner of brand management would today refuse to be a proponent of social media, but the role of social media is effective only when one makes use of a prudent media mix, including the traditional media, television and social media.
The real estate sector is in dire need to communicate an connect with the stakeholders and society at large. In the name of communication all that they do is to hire a PR (Public Relations) agency for the purpose of brand building but do not understand what is communication in the right context.
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.
It seems RERA has suddenly made the PMS as one of the most sought after areas of expertise. The developers can no longer afford to delay their projects due to mismanagement by the execution team. In most of the cases the developer himself and/or his top management was thus far taking care of the execution with no seamless process of execution handed over to the experts.