What would hurt both the buyers as well as the builders is the fact that the property buying and selling would continue to be at standstill. The job market is not picking in any given industry and it would hurt the overall business.
The new regulatory regime is largely about steps, which include streamlining approval processes, simplifying taxation (GST), building institutional capacity, as also introducing urban planning and real estate-related reforms (RERA and REITs).
A year back at the end of 2016, the doom mongers were out in force. In our office sector there were those who were predicting a slump in demand, uncertainty around the new Government in the US, the scare stories around automation and AI, the performance of the top 5 Indian ITeS companies, exaggerations around layoffs and even the dramas of corporate Boards of great Indian technology companies.
Sector-74 is largely a residential sector and part of a well-established residential micro-market, which is well connected to the Noida Expressway as well as Noida City Centre. The project is also located close to an under construction metro line that connects to Noida City Centre on one side and Noida Expressway towards the other.
A Track2Realty pan-India survey finds that despite of high spending pattern of North Indians in general and Delhi-NCR in particular their investment and aspiration for a second home is far less than the citizens of Mumbai & Pune.
Technology is a great enabler that is today helping to reduce the construction timelines, cost of construction & optimise land competence. Pre-cast construction methods such as Alu-form and Waffle Crete technology and new construction materials such as Autoclaved Aerated Lightweight Concrete Blocks, fly ash bricks and building blocks made of mud that has been stabilised with cement or lime are alternative technological advancements.
Francis VanEeckhout is CEO of Deceuninck, an 80-year-old Belgium-based brand dealing in UPVC door & window system. The company is one of the world’s leading UPVC profile company, having customers all over India and is ranked 3rd in the global market.
A closer look at the given developer, Gaursons and the market that it operates in, clearly suggests that the sales figure is definitely not reflective of higher consumer confidence in the market that is notorious for the lack of best practices.
With the Government of India approving an increase in the carpet area of houses for the two middle-income group categories, under the Pradhan Mantri Awas Yojana – Urban, the industry stakeholders are getting euphoric as if this is the panacea for the ills that the afflicted the business.
The prevailing sentiment among the home buyers is quite negative. The developers have definitely failed to identify the strategic and operational challenges that can goad the sector to adopt the best practices. There is no specified industry standard that can be widely accepted as best practice and the industry bodies are seen as builders’ lobbies.