Track2Realty: Over the past couple of months, no other Indian state has been talked about as much in the Indian media as Gujarat. Be it about Narendra Modi, former Chief Minister of Gujarat who is now Prime Minister of the nation or the growth model of the state.
Track2Realty: Ghaziabad caters primarily to the mid-segment and affordable housing segments. It is home to established housing clusters such as Kaushambi, Vaishali and Indirapuram while upcoming residential corridors include Raj Nagar Extension and developments along the NH-24 beyond Indirapuram, including the Crossings Republic township.
Track2Realty Exclusive: It is strange paradox of economics that property prices keep on moving up despite the sluggish market economy and demand. Various research agencies in recent years have reported about the amount of unsold stock lying with the developers and how it has increased over the last quarter or year. This gives hope to the end users that prices might come down to reasonable level.
Track2Realty Exclusive: It was only a few years back that when a couple of high-end luxury projects were launched in Pune analysts were busy with the cost-benefit analysis of the splurge in the market. The rising interest of NRIs, HNIs and even global realty baron soon made everyone realise that Pune has already made its presence on the luxury landscape of India.
Track2Realty Exclusive: The real estate market has often been defined in terms of being either the buyers’ market or the sellers’ market. In most of the major markets across the country the bull phase of the economy led to the sellers’ market with demand outstripping the supply.
Track2Realty: With the coming of the new government already having improved sentiments in the realty market, as a next step the sector expects India’s economic fundamentals to be tackled on a priority basis before any major changes may be anticipated at an industry-level. Infrastructure projects need to be implemented with a sense of urgency, and more income tax incentives for home loans have to be introduced before we can expect to see any significant impact on the real estate sector.
Track2Realty: Many developers are trying their best to create new zones and addresses across India that can appeal to HNI property buyers. This endeavour has met with varying degrees of success on the ground when it comes to swaying the ultra-rich clientele.
Track2Realty Exclusive: Till very recently, unlike several other industries, real estate used to take a back seat in times of a sluggish market or when there was some controversy around. Any negative market sentiment or slowdown more often than not led to newspapers’ property supplements growing thinner and vacant hoardings in and around city becoming common. Prima facie it was seen to be a sales driven exercise where real estate companies’ approach has been to advertise for selling their product and not creating a brand icon. But that seems to be only half the truth in today’s context as the sector is doling out more money for advertising despite slowdown.
Track2Realty Exclusive: It has often been argued that Indian realty needs to adopt best practices and improve brand image as the sector defends its rough ride on the learning curves. If adopting Corporate Social Responsibility (CSR), retaining employees, inculcating brand loyalty and earning buyers’ trust are some of the best practices that can address the perception issues of Indian real estate, then the sector has to walk a long road ahead.
Track2Realty: A report in 2013 labelled Mumbai as the 16th most expensive city globally in terms of owning a residential space. The southern region of the island city is seen as the most prime, with locations such as Colaba, Cuffe Parade and Malabar hills topping the price charts. Owning a home in these and similar location of other cities can cost a buyer more than he or she would earn in two lifetimes.