Track2Realty Public Perception Survey, however, proves these assumptions wrong. More than half of Indians, as many as 54%, track the real estate news, analysis and launches even after they have purchase their house. Even more in number, 58%, monitor real estate sector and developers’ performance along with reputation for future investment purposes.
There is also a third set of buyers who buy properties in the second home locations as their first home. They are the buyers who look for locations that would be first home location in the next few years. Of course, the budget constraints force them to look for low-cost housing. Analysts believe this third set of buyers can not be classified as the second home buyers.
The memories of Uphaar Tragedy on the fateful day of 13thJune, 1997, that claimed the lives of 59 and injured over 100 people, have not faded from the public memory. But it seems the developers in this part of the word are not ready to learn any lessons. For them firefighting is a mandatory provision that just needs to be installed, irrespective of its functionality.
Sowparnika Projects & Infrastructure introduces ‘Positive Homes’ a unique proposition designed and developed based on new age customers demand. Positive Homes comes with uncompromising features and fixtures and price that is unheard of, all-inclusive price of around INR 10 lakhs for a Studio.
Competing against DLF, the company won the auction and soon made plans to construct a grant 18-hole golf course surrounded by luxury apartments and villas, to be marketed as the plush “Unitech Golf and Country Club”. Flashy advertisements were immediately published and huge booking amounts were collected from aspiring buyers who looking forward to their dream homes in the project.
Full adoption of blockchain technology in Indian real estate may appear a remote possibility, however, low transparency provides an incentive for adoption of blockchain rather than an obstacle; and we see several near-term applications for the technology.
As Asian countries address the new realities of ageing crisis and increasing life expectancy, senior living is now becoming a next bet for investors. According to recently released Colliers Research report on Senior Housing Outlook 2018, countries such as Japan have grappled with an ageing population for some time, others are just beginning to realise that they will need to act quickly in order to address ageing-related issues.
The Jaypee buyers question the devaluation of assets by bidders.They do not believe that any new builder will be able to do justice with these projects.
This may not be music to the ears of the developers who are hoping against the hope that the recent policy changes & reforms would bring the homebuyers back to the market. But the ground reality is that for a vast majority of the Indian homebuyers the measures like demonetization, GST, RERA or Benami Transaction Act are more for academic discussions than making any tangible changes for them on ground.
The first quarter of 2018 has started on a positive note with a 23% YoY increase in the gross office take-up in India. As per Colliers International, approximately 11.4 million sq ft (1.02 million sq m) of gross absorption was recorded in Q1 2018.