The Consumer Confidence Report 20:20 finds that the developers who have been focused on the buyers with quality projects and meaningful dialogue have been rated higher by the consumers at a pan-India level.
Reports of price correction, more often than not, seem to conceal more than it reveal on the pulse of the property barometer. The answer as to whether this is the right time to buy is not a simple yes or no, but it depends on a number of factors like whether a buyer is looking for first or second house, for living or investment, if investment then it is for the long run or short run etc.
The supply of quality housing even today is confined to eight key cities. It is not that the new cities are not coming up, but neither the investors nor even the end users want to buy a house in Tier II cities today. The dream and aspiration is always Delhi, Mumbai, Bangalore, Pune kind of life.
A decade ago, an Indian woman independent and capable enough…
One-sided builder-buyer contract, late delivery of the possession and poor quality of construction is an accepted reality in the Indian real estate. A prominent developer in Noida Extension is reportedly forcing its buyers to sign the modified apartment buyer contracts with extended possession date and reduced penalty for delay in handing over the apartments. “Otherwise, we are ready and willing to refund the entire booking amount along with 11 per cent interest, without any deductions,” says the forwarding of the letter sent to the buyers.
Track2Realty Exclusive: Sales model in commercial office spaces that was only recently seen as an indicator of distress on part of the developers has, of late, turned out to be a smart business model by the MNCs. These multinational companies seem to have confidence in the Indian growth story and with long term plan they are investing into the purchase of these properties. Track2Realty Focus 2015 finds that it is not a distress sale of developers since the capital values and rental yields have both appreciated sharply in the last three years despite of impending slowdown. The shift of these commercial spaces beyond the IT/ITeS is the most significant trend.
Track2Realty Exclusive: It may sound like a paradox but the rental market of Gujarat city is showing bias in two directions when it comes to the property acquisition on rent. While the housing market is showing rental bias in the negative direction, the same property index is going northwards in the commercial vertical of property.
Track2Realty Exclusive: The current economic environment is indeed one of the most challenging in recent history. The headwinds of inflation, interest rates, construction costs, and subdued consumer demand have constrained real-estate growth in many micro-markets across the country. Economic volatility aside, I am optimistic about long-term real-estate sector prospects. My optimism is founded in irrefutable realities – the rapid urbanization of India, burgeoning segment of upwardly mobile Indians, limited availability of urban residential housing and unabated aspiration of home ownership.
Track2Realty: With economy witnessing a downturn, interest rates and inflation reaching all-time highs, 2013 has been one of the most eventful years for Real Estate in India. While introduction of Real Estate Regulatory Bill and Land Acquisitions Bills in the Parliament was positive for the real estate industry, end users sitting on the fence expecting a fall in prices lead to a contraction of demand in the past few quarters.
Track2Realty: The economic downturn has subdued office and retail markets, resulting in a sales slowdown as well as pressurized capital values across leading cities—according to CBRE Research’s year-to-date coverage of trends in India’s real estate sector.