The entry of corporate giants into the real estate space is all set to take the Noida growth story to the next level. Already, Godrej Properties and Tata Housing have entered into Noida market through a joint development model. The market buzz has it that a couple of more corporate giants are to soon announce their Noida entry.
An analysis by Track2Realty vis-à-vis the volume of office space consumption per household – not only in India but also internationally in London, Singapore, New York, Tokyo etc concludes that there is equilibrium when the office space consumption is around 60-65 sq feet per household. In India it is rather surprising that the ratio per household even in a city like Mumbai is 25 sq feet. Kolkata has a dismal only 14-15 sq feet office space per household. In Delhi-NCR it is again 20-25 sq feet per household.
The journalists covering real estate news are always on the lookout for the grey areas and these buyers’ associations feed them. In exchange, they are always in the news and that lends them credibility in the given market.
Mahindra Lifespace Developers Limited (MLDL) has launched ‘Happinest – Palghar’ – the first affordable housing project to be undertaken by a joint platform between the Company and HDFC Capital Affordable Real Estate Fund-1 (‘HDFC Capital’), a fund managed by HDFC Capital Advisors Ltd.
The contemporary yet traditional Tamil-inspired architecture of SOBHA Gardenia has been thoughtfully designed by a team of in-house architects at SOBHA. This is SOBHA’s fifth project in the city.
It is noteworthy that Supertech has not only hit by the dissatisfied homebuyers but also been at the receiving end of government agencies and the law for two of its most ambitious projects, Emerald Court and Czar.
I am also conscious of the fact that a large number of developers are hoping against the hope that once the tide is over and investors return to the market their ordeal would be over. I may sound to be disappointing gentlemen but the era of investor driven real estate business is over.
The homebuyers’ acting as de facto consumer courts raises a fundamental question as to whether any of these buyers’ associations have any legal right to intervene suo motto and address the grievances of the buyers. The legal opinion is pretty clear on this.
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 markets across the major cities is today witness to a new spate of consumer activism which is more political in its functioning than consumer centric. Worse even, many of them even operate as the de facto consumer courts in advising others in how they should take on the builders.