Browsing: Indian home buyers

Headlines Defining Demand, Defining Real Estate Demand, Defining Housing Demand, Due Diligence in Real Estate, Demand Assessment in Real Estate, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market News, Best Property News Portal, Best Real Estate News Website, Real Estate Journalist

Why can’t home buyers define demand for the real estate projects?

At a time when there is a mad rush to launch new projects in & around the airports across the cities of India, a developer in Bengaluru opted to go in the diametrically opposite direction. Prima facie, what appeared to be a case of finding a better or affordable land parcel in that given location of South-West Bengaluru had a strategy that very few adopt in the business of Indian real estate. The strategy to define demand through scientific research. The demand in the market was assessed with consumer psychograph study – what consumers want; what they need; where are the gaps; and how a new housing project could fill in that gap.

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Need of market research for homebuyers

The Google search of Ratan Pandit, a prospective homebuyer, for Noida Extension market completely confused him. With various conflicting reports where one of the property consultancy firms endorsing the market as future investment magnet and the other one advising to stay away due to over-supply in this market, this homebuyer could not reach to any conclusion. Even various property listing sites were of not much use in terms of the understanding of the given market.