We keep hearing the term ‘market drivers’ being used in real estate. What are they? Market drivers can be defined as developments in an area that increase the value of living there. It is a well-established fact that infrastructure is by far the most important driver for real estate demand and property appreciation growth.
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.
Gaurav Kapoor booked a flat in one of the newly launched projects of Delhi-NCR in early 2007. He was promised the flat would be ready for possession within three years with a grace period of six months. To play safe Gaurav even opted for a construction linked payment plan to the developer but six years have gone and he is yet to get his flat and every time he has approached the developer, various reasons for delay have been cited from macro economic conditions to funding woes and approval delays on part of the government agencies.
“How long can a sector survive which is borrowing at 48 per cent from private lenders to serve the interest of previous debt raised at much lower rate,” asks a banker. His concern is not without valid reasons. Developers experimented with all funding options but still many of them are now being forced to seek other sources of funding which not only comes at a significantly higher cost but also where the source of fund is unregulated.
No other residential micro market of India has arguably weathered as many challenges and controversies as Noida Extension. Its inception as a separate zone, other than Noida & Greater Noida, did lend credence to conspiracy theories against the farmers that culminated into land acquisition litigation. Since then it has been a sordid saga of project delivery uncertainties and homebuyers endless wait; not to speak of the additional charges levied as against the compensation amount hiked to the farmers.
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.
The meteoric growth of e-commerce in India in recent years was broadly seen as a threat to physical retail. Seemingly bearing this out, ASSOCHAM states that e-commerce has grown at a compounded annual growth rate (CAGR) of ~30%, while retail sector growth has been at 15% CAGR over the last five years.
Eleven real estate developers have come together to promote the…
Home Credit India Finance, a Non-Banking Financial Company (NBFC) has announced a festive campaign that offers customers, especially first-time borrowers in over 30 cities across 13 states, a chance to buy products of their choice at customized EMIs.
JLL India has collaborated with Manpower Group and EMPI Business School to introduce Certificate Programs in Facilities Management. This initiative is aimed at meeting the need for a formal academic approach to empowering aspirant candidates for a career in Facilities Management (FM), which is one of the fastest-growing real estate services verticals in India today.