Jhumur Ghosh welcomed the panelists, following which Ravi Sinha questioned the global competitiveness of Indian real estate in the wake of thousands of abandoned projects waiting for the funds, the debt-equity ratio imbalance, lending issues, pre-launches without RERA sanctions, and the developers’ defending the indefensible.
During any impending general elections, real estate stakeholders conjecture exhaustively about the likely impact on the real estate market. Conventionally, the period between the announcement of the election date till the final result day is a period marked by caution and hesitancy in the overall real estate market.
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.
This policy ‘trishul’ brought about a paradigm shift in the way Indian real estate does business and laid the groundwork for improved transparency and efficiency in the sector. However, while end-user and investor confidence were rekindled for real estate, it did not exactly set the industry on fire with renewed interest.
Affordable housing was given the much-coveted infrastructure status, and the very definition of affordable housing has been tweaked to accommodate more inventory under this key category. Moreover, the previously highly speculative markets of NCR and MMR have been tamed and are, in fact, leading the thrust of affordable housing today.
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.
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.
Cash-strapped builders have been hoping for all and any Government interventions which can help boost their sales volumes. This GST cut will provide such a boost, at least in the short-term as more fence-sitters who had been postponing their purchase decisions now have an additional incentive to take the plunge.