Since 2010, the drift of hesitancy and pessimism that has detracted the nation’s real estate market has eventually revitalized. With the arrival of solidifying and business-savvy stable government at the centre and the recently announced positive budget, stock markets and the overall encouraging sentiment has been revived. It goes without saying that Indian household has regained financial confidence with regards to the approaching festive season.
After dry festival seasons (2012 & 2013) for property launches due to economic slowdown, financial constraints of the developers and need for clearance of excess, developers are now significantly gearing up. Launch of 100 new projects have already lined up by a mammoth of prestigious realty companies in across varied cities and the highest number of these are in NCR.
Several discount schemes have been planned, said the analysts. On seeing the soaring enquiries graph, the brokers are likely to give its potential buyers attractive discounts of about 8-15% varying upon the location. On comparing current trend from the previous 2 years, the advertisements by the real estate players via a range of sources like print, electronic media, email etc has unquestionably intensified.
Developers like Godrej Properties, Tata Housing, Supertech and Mahindra Lifespaces are just few to mention and NCR based developers like M3M, Saya are all geared up to unleash their upcoming launches keeping in mind the approaching festival season. The reason behind these planned launches was the surging enthusiasm levels in the wake of return of the positive sentiment, however there still exists a cautionary risk involved as to whether the launches would turn into sales, according to the Brokers.
After dry festival seasons (2012 & 2013) for property launches due to economic slowdown, financial constraints of the developers and need for clearance of excess, developers are now significantly gearing up. Launch of 100 new projects have already lined up by a mammoth of prestigious realty companies in across varied cities and the highest number of these are in NCR.
Several discount schemes have been planned, said the analysts. On seeing the soaring enquiries graph, the brokers are likely to give its potential buyers attractive discounts of about 8-15% varying upon the location. On comparing current trend from the previous 2 years, the advertisements by the real estate players via a range of sources like print, electronic media, email etc has unquestionably intensified.
Developers like Godrej Properties, Tata Housing, Supertech and Mahindra Lifespaces are just few to mention and NCR based developers like M3M, Saya are all geared up to unleash their upcoming launches keeping in mind the approaching festival season. The reason behind these planned launches was the surging enthusiasm levels in the wake of return of the positive sentiment, however there still exists a cautionary risk involved as to whether the launches would turn into sales, according to the Brokers.
In accordance to Magicbricks- a real estate website, 250 property deals are rightly on across major cities and on the other hand Indiaproperty, proffers lush discounts on varied residential projects of up to 15 lakhs along with other lucrative freebies. And other developers have also offered a myriad of schemes in order to induce customer for sale like free vacations, gold vouchers/ coins, modular kitchens, furnishings up to Rs.5 lakh and no registration fees etc.
 |
| Forthcoming Festive Season for Real Estate |
CBRE South Asia Chairman & Managing Director Anshuman Magazine said that the business during the forthcoming festival season is anticipated to mark as a productive year than the previous two and the key is improving liquidity in the market and mobilizing investments from domestic/ foreign funds/ investors.
Ashutosh Limaye, head of the research and real estate intelligence service at JLL India stated, October to December phase of festival season is likely to witness a least of 60000 sales across seven major cities which marks to be a sheer doubled record as of the prior year.
In accordance to the Industry estimates, the annual sales on an average basis are expected to come about 200000 units in this year wherein 30-40% would be the contribution of festival season. Nonetheless last year’s sales were about 120000-140000 units.
In June 2014, inventory of 53 months was witnessed in Mumbai Metropolitan region, NCR with an inventory of 45 months, Hyderabad with 47 months inventory, Pune 23 months, Chennai with 26 months And Bangalore with 19 months which shows inventory levels have been raising and this data has been presented by research firm Liases Foras.
Ashutosh Limaye, head of the research and real estate intelligence service at JLL India stated, October to December phase of festival season is likely to witness a least of 60000 sales across seven major cities which marks to be a sheer doubled record as of the prior year.
In accordance to the Industry estimates, the annual sales on an average basis are expected to come about 200000 units in this year wherein 30-40% would be the contribution of festival season. Nonetheless last year’s sales were about 120000-140000 units.
In June 2014, inventory of 53 months was witnessed in Mumbai Metropolitan region, NCR with an inventory of 45 months, Hyderabad with 47 months inventory, Pune 23 months, Chennai with 26 months And Bangalore with 19 months which shows inventory levels have been raising and this data has been presented by research firm Liases Foras.
