Nearly all the developers in the Indian real estate are chasing the Non-Resident Indians (NRIs) but very few have succeeded in attracting the investment of expat Indians. Reason: They have tried to hard sell the properties without actually understanding what these fellow Indians living abroad want.
Bhiwadi as a city has for long weathered the perception of an industrial belt which was seen to be an alternative destination for those who can not afford Gurgaon or Manesar. After all, office occupancy pattern has been a benchmark of the prosperity of a given city since it indicates the jobs and disposable income which eventually is a catalyst for the growth of housing and retail as well.
It is not that I don’t know about it; I don’t care about it. I have rather consciously developed this image over the years. I am never ashamed or apologetic about my identity or public perception. I very much enjoy the fact that not so professionals within the built environment, fellow corrupt journalists, shady builders and most stupid breed of PR and Corporate Communication specialists (sic) maintain a safe distance with a rude journalist like me.
Market dynamics are changing and we are aware that urban population is rising, more so in India. There is massive shortfall in infrastructure and urban housing. Due to climatic change and rising environmental concerns, more resilient buildings which are environment friendly will be required. There is also a perceptible change in the way people live, work and play. People are living longer; households are getting smaller; there is increased mobility; and of course technology is transforming the way people think demand the kind of homes they want and carry on with their lifestyle. Keeping all these in mind, we have taken new initiatives at Sobha to stay ahead of the curve.
The entry of corporate giants into the real estate space is all set to take the Noida growth story to the next level. Already, Godrej Properties and Tata Housing have entered into Noida market through a joint development model. The market buzz has it that a couple of more corporate giants are to soon announce their Noida entry.
It is noteworthy that Supertech has not only hit by the dissatisfied homebuyers but also been at the receiving end of government agencies and the law for two of its most ambitious projects, Emerald Court and Czar.
The hopes of middle class homebuyers have dashed and they blame the Finance Minister for presenting an election-oriented budget. Many even question the direction of the government where the focus has suddenly shifted towards the rural and farm sector in the last full budget presented by this government.
The real estate markets across the major cities is today witness to a new spate of consumer activism which is more political in its functioning than consumer centric. Worse even, many of them even operate as the de facto consumer courts in advising others in how they should take on the builders.
The price point may give impression of a property market on the outskirts that is just meant to be for those who can’t afford more than roof over the head. However, a closer look of the locality would suggest that Panvel is one of those destinations that could be showcased as a model destination where the affordability has not compromised with the aspirational living of the budget constraint buyers.
ZiffyHomes, a Gurgaon-based home rental marketplace has raised seed funding of INR 2 crore from Individual investors. The round was led by Bikky Khosla, Angel Investor and CEO at TradeIndia.com and Anirudh Agarwal, Managing Director at Shree Sharda Group. The duo will also join ZiffyHomes as Board Members to mentor the team for fast growth.