Track2Realty Exclusive: Data for the past few years show that real estate has been a rewarding asset class. For example, in 2011, one of the worst years for equities when the Sensex fell nearly 25 per cent, prices of homes in most Indian cities remained firm despite the overall economic uncertainty, both in global and domestic markets.
Track2Realty Exclusive: The digital medium, however, seems to be evolving fast and some of the realtors have adopted pro-active social media strategy to focus on consumer connect, feedback, consumer research to identify their needs and requirements.
Track2Realty Exclusive: Customer chasing yet skeptical of their frank opinion and two-way communication, the internet revolution has exposed the Indian real estate to pretty uncomfortable zone where they can hardly ignore what they by and large believe to be a necessary evil.
Track2Realty Exclusive: Some of the companies are using online media for generating sales lead; while others are focused on customer relations. With the medium new and realty more or less reluctant in the initial stages, there are very few who are actually understanding the medium and adapting themselves to what others think as a necessary evil. Tata Housing believes in using the medium for engaging with the customers more than just generating sales leads. Brotin Banerjee, MD & CEO of Tata Housing shares with Track2Realty how they strategise their social media usage. Excerpts of the interview:
Track2Realty Exclusive: There are analysts who believe the retail investors need to be exposed to this asset class through an institutionalized vehicle, which would be regulated. REITS is the ideal solution.
Track2Realty: Office markets in India registered a downward trend in absorption in the first half of the year (Jan–June 2013), according to the latest report by Cushman & Wakefield. The total net absorption across top eight cities in H1 2013 was noted at 10.9 million square feet (msf) which denoted a decline of 15% compared to the same period last year.
Track2Realty Exclusive: Is the residential real estate market in India facing a bubble? A bubble implies that there is a lot of absorption and therefore a lot of development happening, and that prices are rising in tandem up to a point where nobody is buying anymore. That is not the case in India.
Track2Realty: Provident Housing Limited, a wholly-owned subsidiary of the Puravankara Projects Limited, is to launch ‘premium affordable’ homes in Coimbatore. The innovative residential project will be located at Selvapuram, Off Perur Main Road, near R S Puram, in the vicinity of the city center.
Track2Realty: While the customers lodge complaints against builders, here is a case in which a builder has registered a defamation case against a customer. The Mumbai-based reputed Haware Engineers & Builders have filed a defamation suit amounting to Rs 1,086 crore against one of its former customers in the court.
Track2Realty: The prime office space segment across key cities in India witnessed a supply infusion of more than 20 million sqft in the first six months of 2013.