I have taken up the challenging practice of evaluating the performance of the real estate companies through rating the respective brands. I often hear two very different voices about my professional existence within the sector. A group of developers, though minority community, not only take the learnings out of the rating & ranking but also endorse that the sector needs someone like me for the larger interests of the business.
The three-day exclusive window scheduled from December 14th to December 16thDecember 2019 will feature free-to-listen knowledge sessions from SOBHA’s top leadership team, industry guests and patrons, helping home buyers take smart decisions. The bookings at this online Expo is live from November 23rd November, 2019 onwards on the link www.sobha.com/click2buy.
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After nearly two-and-half years since RERA deployment across the country, the Centre’s aim to enforce it in each state to regulate the Indian real estate sector has picked up momentum. There has been a 40% growth in project registrations under RERA in a year across the country – from around 32,306 projects in end of September 2018 to nearly 45,307 projects as on 5th October 2019.
According to the report titled “The Herald of a New Chapter: Student Accommodation in India”, the Student Housing/Co-Living space is expected to witness an investment worth USD 700 million and an addition of 0.6 million beds by 2023 across the country. The Student Housing segment is witnessing rapid growth across all the major markets in the country and expected to witness a growth of 36 percent between 2019 to 2023.
In the April-June 2019 quarter, India’s GDP grew only by 5% – the slowest pace in over six years. Consumers are spending less on everything from FMCG to automobiles – and, of course, real estate. Naturally, the sector eyes RBI’s monetary policy for cuts in the key lending rates to support the various measures taken by the government to boost consumption sentiment.
Colliers International foresees robust demand from GICs, with leasing by GICs across six major cities in India to be in the range of 32.5 million sq ft between 2019 and 2021. Over 2014-2018, occupiers leased about 53.0 million sq ft of office space in multi-tenanted buildings for their GICs. Bengaluru led the demand with about 20.1 million sq ft, followed by Delhi NCR and Hyderabad. Further, we found that companies from the engineering, energy and manufacturing sectors favoured Bengaluru, which accounted for 32% of GIC demand between 2014-2018.
Co-working is gaining immense popularity in the new-age workforce providing hassle-free ways of working and networking. Innov8’s new centre is located in central Delhi, attracting the best minds to collaborate and work together. The new centre offers a dedicated desk starting at an affordable price of INR 10,999/- per month and with the recently launched flexi pass at INR 2,999/- per month and a day pass at INR 600/- per hour for a hot desk or a meeting room.
Traditionally, the festive quarter fares better than the previous quarters of the year when it comes to housing sales – the combination of religious sentiment and festive deals and freebies is a potent mix during this part of the year. For instance, Q4 2015 saw 70,000 homes sold in the seven major cities. However, as tempting as it was for developers to believe that this was an unshakeable performance standard, it was certainly shaken just a year later. After demonetization (DeMo) was announced in this critical quarter in 2016, housing sales halved to 32,100 units.
Furniture players are also experimenting with design and interior modelling of homes. Through an online presence and an influencer network, players are investing in this side of the business. As a result, furniture players are not just your simple sofa sellers, they are much more! They now offer new-age designs, suggest home improvement tips by way of customization and site visits by their own ‘design officers’. These specialized services win over the traditional furniture store operators in terms of post-sales services delivery and customer satisfaction.