Track2Realty Exclusive: Data for the past few years show that real estate has been a rewarding asset class. For example, in 2011, one of the worst years for equities when the Sensex fell nearly 25 per cent, prices of homes in most Indian cities remained firm despite the overall economic uncertainty, both in global and domestic markets.
Track2Realty Exclusive: The digital medium, however, seems to be evolving fast and some of the realtors have adopted pro-active social media strategy to focus on consumer connect, feedback, consumer research to identify their needs and requirements.
Track2Realty Exclusive: Real estate continues to be the best investment instrument of the Indians and it does not seem to be changing in the year ahead. Despite of cribbing, Indians’ investment portfolio will comprise of a house for emotional connect. Return on investments (ROI) also suggests there is no alternative (TINA) to it. However, over reliance on TINA factor may disappoint them in future as it works best in the bull run but is worst indicator of future as well.
Track2Realty: The government is all set to introduce a buyer-friendly real estate legislation which aims to protect consumers and bring transparency in the sector in the monsoon session of Parliament.
Track2Realty Exclusive: Customer chasing yet skeptical of their frank opinion and two-way communication, the internet revolution has exposed the Indian real estate to pretty uncomfortable zone where they can hardly ignore what they by and large believe to be a necessary evil.
Track2Realty Exclusive: Some of the companies are using online media for generating sales lead; while others are focused on customer relations. With the medium new and realty more or less reluctant in the initial stages, there are very few who are actually understanding the medium and adapting themselves to what others think as a necessary evil. Tata Housing believes in using the medium for engaging with the customers more than just generating sales leads. Brotin Banerjee, MD & CEO of Tata Housing shares with Track2Realty how they strategise their social media usage. Excerpts of the interview:
Track2Realty Exclusive: There are analysts who believe the retail investors need to be exposed to this asset class through an institutionalized vehicle, which would be regulated. REITS is the ideal solution.
Track2Realty: Office markets in India registered a downward trend in absorption in the first half of the year (Jan–June 2013), according to the latest report by Cushman & Wakefield. The total net absorption across top eight cities in H1 2013 was noted at 10.9 million square feet (msf) which denoted a decline of 15% compared to the same period last year.
Track2Realty Exclusive: Is the residential real estate market in India facing a bubble? A bubble implies that there is a lot of absorption and therefore a lot of development happening, and that prices are rising in tandem up to a point where nobody is buying anymore. That is not the case in India.
Track2Realty Exclusive: The concept has been new in India and in the absence of home buyers understanding, they have often succumbed to misleading advertisements that promise “view of nature” or “open green spaces.”