Anita will remain with the Company until September 30, 2018. She joined Mahindra Lifespaces in the year 2002. Of the 16 years she has spent with the Company, the last nine years were as Managing Director of Mahindra Lifespace Developers Ltd.
Ranging from 50 acre to 850 acre, integrated townships are slowly but surely catching up in Coimbatore and since this part of the property market has so far remained oblivious to the concept of a proper gated living, the developers are leaving no stone unturned to replicate similar success story that other matured property markets across the country have registered.
Going by the developer’s remark, one wonders whether a real estate purchase can be termed as another expensive purchase. In a BMW purchase, for example, the buyer can look & feel the end product before one takes a final call. But in real estate it is only a promise and the product is yet to be produced.
When the property market is hot, the sharks begin to circle; recognising the opportunity to fleece the rest of us out of our money. The problem with property scams (cartel of appreciation) is that they are hard to detect in advance and often perfectly legal. They are marketed convincingly and professionally, unlike the instantly recognisable scams we are used to in other walks of life. Property sharks are harder to pin down when the market is going up, but they are nowhere to be seen when the prices crashes.
The satellite towns and periphery locations of major cities across the country have been stigmatised as the last refuge of the struggling homebuyers. The collective consciousness looks at these locations meant for buyers who have no choice but to compromise with their wants and needs.
In a first-of-its-kind initiative, Puravankara Limited, has announced a Home Exchange Plan – an initiative with multiple benefits for the home sellers who are looking to upgrade their homes.
What has been an interesting finding during this fiscal year is the fact that a number of relatively smaller developers but with impeccable track record of delivery and consumer satisfaction are breaking the myth that it is the sheer volume and premium that elevates a company at the Brand Leadership Chart.
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 Indian real estate market has always been notorious for its lack of transparency, and the changes in recent times has been less than desirable. As India aspires to get clean money into the sector, the foreign funds too have high standards in terms of service quality and clarity.
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.