The Indian real estate may not be attracting the best of talent, yet it is still not open to professional practices. Track2Realty survey finds that it is still the employers’ market and employees continue to crib a number of issues, including poorly structured compensation package.
Backward integration definitely helps and my reason for backward integration is that I have total control over quality. I come from that industry where I had been into contracting for the last 40 years. Real estate for me is only for the last 20 years. I have since beginning worked on very high-end contracts, including design. So, I have the knowledge coming from the grassroot level of contracts. Eventually I thought I should do real estate also while doing contracts outside.
I am also conscious of the fact that no one would dare to file a case. It will only make them a laughing stock and force me to further expose their fault lines and consumer grievances/backlash in the public domain. This is one business where there is always more to conceal than reveal.
Currently, there is 4.0 million sq ft of operational Grade A office stock and an additional 5.7 million sq ft of new supply scheduled through 2021. As per Colliers Research, occupiers are considering North Bengaluru for expansion and consolidation as infrastructure improves in the area and supply becomes available.
Construction consultancy firm, Linesight has opened offices in Mumbai. Linesight intends to focus on Mumbai, Pune, Bangalore and the Hyderabad metro cities of India as part of its expansion plans in the region.
In a sales driven and measurable ROI dictated environment of the Indian real estate, the ad campaign comes as a market disruption. It is a result of great thought, deeper understanding of the urban housing realities and a bold statement that the company has not only been witness to a turnaround (after controversies of the past) but also confident enough to gamble now to stay ahead of the competition curve.
The survey clearly suggests marriage is as much a choice for women as mortgage, and marriage is definitely not predestination of home ownership. Even among the married couples the role of the women is changing and they are increasingly getting on the driver’s seat when buying a house.
The real estate has been calculating the revenue on Percentage Completion Method and not Project Completion Method. With the Percentage Completion Method, the developers treated payment received from the home buyers for purchase of flats under construction as turnover of the company and net income generated from such projects was treated as profit.
About 40% of all the new launches in 2018 were under the affordable segment. Cities such as Bengaluru, Chennai, Hyderabad, Kolkata and NCR witnessed maximum launches in the affordable segment that is below INR5 million. Mumbai on the other hand witnessed more launches in the mid segment housing, in the range of INR 5-10 million.
In the second edition of evaluating the best practices being followed in the Indian real estate, Bangalore-based Sobha Limited has yet again maintained its leadership position. As a matter of fact, it has improved its performance, compared to first study with Track2Realty best Practices Report 2017.