Real estate alert! Will 2021 see a new wave of homebuyer efficiency, increased deliveries and ownership? Expert decoding
As some deadlocked projects are picked up by stressed asset managers, the sector can expect higher asset deliveries and a higher degree of expertise in the sector. This will bring new energy to sectors that currently have an average inventory overhang of 47 months in eight major housing markets, according to a recent October-December quarterly report on PropTiger.com
Undoubtedly, the real estate industry is undergoing a transition from a physical store image created over the last few years to a modern, well-structured, professional business. In addition, this may be due to changes introduced by veteran players in the marketing and sales pitch. The industry is also witnessing the entry of new but powerful players in this area that have influenced the industry in various ways.
In addition, the industry is ready to make a difference when the only mode involved is online, with significantly reduced physical interactions after the blockade caused by the pandemic. In 2021, such changes will be introduced and a new wave of efficiency may be seen
As some deadlocked projects are picked up by stressed asset managers, the sector can expect higher asset deliveries and a higher degree of expertise in the sector. This will bring new energy to sectors that currently have an average inventory overhang of 47 months in eight major housing markets, according to a recent October-December quarterly report on PropTiger.com.
Now, reputable industry insiders have realized that now is the time, buyers’ sentiment towards real estate has changed, and actions speak much louder than words in the industry. Thus, they will enter 2021 with a complete focus on delivery. Because it does not please customers and bring their awareness other than the actual ownership of the property. Numerous residential properties are lined up for delivery throughout the country, from the metro to Tier II-III cities.
The Gaurs Group has already delivered 5,500 properties to buyers since the blockade was eased and is urgently in the process of offering another 1,500 properties by March 2021. The company owns apartments, office spaces, parcels and stores. “We are a delivery-focused real estate company and our customers continue to be a key point in our business,” said Manoj Gaur, CMD of the Gaurs Group.
Real estate developers in the Tier II-III real estate market are not far behind. They are also considering a busy delivery schedule for 2021. The Sushma Group in Chandigartlicity claims to own an additional 812 units by the end of 20-21 on seven projects. To push these assets, the group has invested 50 rupees so far and plans to invest another 50 rupees this year. Prateek Mittal, Executive Director of Sushma Group, said when talking about property and the Tricity real estate market: “The Tricity real estate market has a large NRI population in neighboring Punjab and Haryana. The post-Covid scenario could change even further as many have already migrated to Tier 2 cities. Demand has already increased and may move further north before this pandemic occurs. Movements such as business and employment centers in Tier 2 cities, mixed-development townships, etc. It is also the main catalyst for the growing demand for residential and commercial real estate. ”
With the full-scale reopening of offices and commercial centers, the face of commercial real estate all begins to change. Health, hygiene and wellness concerns will inevitably lead to industry integration in favor of organized developers. More and more developers are likely to launch products that offer a sanitized environment and a range of wellness amenities for health-conscious customers. One such project in Noida’s fast-growing micro market is Alphathum by the Bhutani Group. The project recently received a Certificate of Completion for Phase I of Alphathum. The certificate is for Tower B & C and the total area of the project is 39 square feet, of which 21 square feet are ready to be owned. Located in Sector 90, the project also has the world’s largest rooftop infinite body of water. A well-designed body with a Zen garden
Ashish Bhutani, MD of the Bhutani Group, said of the development: “Alphathum is committed to providing India’s most witty business tower integrated with intelligent technology. The idea behind all our projects is to the Noida people in their lifestyle. The project is to present a symbolic structure that adds value. The project provides a great office space location for top companies looking for space in the city, due to the many housing developments in Noida. , The project enjoys large catchments in both office and retail space. “
Delhi-Even NCR-based 360 Realtors has partnered with Rising Straits Capital to launch a 100 rupee stress fund to fund builders for the last mile. There are other new era real estate players participating in the battle with the expertise to turn the project around. There is a strategic solution provider, Black Opal, who will cover some deadlocked projects in 2021. This relatively new phenomenon of stressful asset acquisitions also helps real estate companies cut loans of around Rs 10,000, which are classified as serious Emphasized by the bank. ”