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.
There is a public perception that what has transformed this once non-descript city into thriving metro city is the gulf money since a large number of Kochi residents are working in the gulf region. However, Kochi property market is not being driven by gulf money alone; this could be only a reality in the luxury segment.
Unfortunately, in the name of common cause the cause is seldom common even though prima facie it appears to be. As a matter of fact, every buyer has his own definition and set of interests to get into a fight with the builder. The legitimate fight that should ideally start with the ‘conviction of being upright’ often starts with suspicion, one-upmanship, or even worse, ulterior motive.
Over-supply has been oft-repeated blame game for slow property absorption across the country. However, in most of the cases this over-supply is a misunderstood term. In a country where the housing shortage is huge, any mention of over-supply is misleading in the first place. In most of the property markets, it is the demand & supply mismatch which is termed as over-supply.
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.
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.
There is no restriction on the number of properties that NRIs can own in India. However, NRIs obviously need to make informed decisions on such acquisitions. The most important consideration is that of whether the property purchase is for their own or their family’s actual use, or as an investment for rental income and potential capital appreciation.
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.