However, realtors still seen tapping customers
Feb 25, 2014
Source : Business Standard


DELHI: Most developers and consultants have put in an “uncertain” clause in their annual planning for real estate projects, and have decided to fine tune schemes only after election results in June.  But even as upcoming elections have slowed down real estate launches and announcement of new projects in the country, developers and brokers are using this time not just to clear inventory but also to tap  customers in a slow market.

Qubrex is among many brokerage firms to have started a free election capsule service. While they send aggregated information on elections to their customers, primarily high end and NRIs, to keep them updated on the latest political scenario, they insert property advertisements in between. Whenever transactions happen, these ads will translate into brokerage fees.

“We don’t take a view or an opinion, we just send information – 20% original and 80% aggregated. We try to provide a macro picture to deepen our relations with the customers at a time when business is not going well,” Sanjay Sharma, managing director, Qubrex. It is like captive advertising. “It will definitely help us in growing business by 2 to 5 times in a year.”

In another move ahead of elections, Magicbricks, one of the biggest online property portals, has gone for a revamp to attract more users. It has also launched a separate section for luxury houses.

Many of the developers, Business Standard spoke to, talked (off the record) about going slow in new launches as they want uncertainty to disappear and positive sentiments to return to the market. Real estate industry has been battling a slowdown during the last 18 months or so, with declining sales and high inventory coupled with funding issues.

“The revival of the market looks tough at this moment. But things would change post elections. Many buyers are deferring their decision to buy while developers are holding onto their new plans,” Sharma adds.

Anshuman Magazine, CBRE, a leading consultant, says business is going on as usual but strategies might change after elections depending upon the outcome. “Developers can revive their strategy. The new policy will make a difference. There is an uncertain element in the strategy at this point.”

CBRE as an organization has also felt the heat of slowdown.”Yes, there is an impact. The volume of transactions is coming down. But, we are well diversified, so the impact is mitigated through other segments such as project management,” Magazine adds.

According to a senior executive at a new real estate company, there is a wait and watch policy. “Although small projects keep coming in, there’s hardly any launches in big projects/townships. After the elections, provided there is a clear mandate, there might be sudden spike in the market.”

The outcome of the election, expects the industry, will definitely put the market on a fast-track ‘revival’ mode, the signs of which has already started coming in.


Latest Realty News

Noida land scam: Court rejects bail to real estate director
Feb 25, 2014
DELHI: A director of a real estate firm, who was accused in a cheating case relating to a land scam in Noida, has been denied bail by a Delhi court which said it is a matter of concern that agricultural land is being taken over by land mafia with political support without any fear of law.
Indians, Pakistanis make 1/3 of property brokers in Dubai
Feb 25, 2014
DELHI: As many as 676 real estate brokers from India and Pakistan are operating in Dubai out of a total 2,238 in the Gulf emirate, according to a new report.
Removal of the toll plaza, might hike Gurgaon Expressway property rates
Feb 25, 2014
DELHI: After the removal of the toll plaza, Gurgaon seems to have brought more than traffic to speed. According to real estate experts, dealers and builders, there is already increased activity in the real estate market and prices in Gurgaon could see an increase of about 10 to 20%.
Demand up for luxurious realty in Millennium City
Feb 25, 2014
DELHI: Millennium City Gurgaon today has a growth story that mirrors India’s growth over the last decade. Registering rapid urbanization, Gurgaon has become the city with the third highest per capita income in India.
DDA offers penalty relief
Feb 25, 2014
DELHI: In its board meeting on February 24, DDA decided to launch a one-time relief scheme for those who stayed away from the leasehold to freehold conversion camp conducted recently.
Multiplexes, parks OK in NCR’s green zones
Feb 25, 2014
DELHI: The NCR Planning Board’s green light to more real estate construction activities in ecologically fragile zones like the Aravalis not only allows more commercial activities in the name of tourism but also gives state governments virtually a free hand in deciding how they to want to use these areas.
DLF sales bookings up 46 per cent to Rs 3,760 crore in April-December
Feb 25, 2014
DELHI: Realty major DLF's sales bookings rose 46 per cent to Rs 3,760 crore during April-December period of this financial year despite a slowdown in the real estate market.
Private equity inflow in realty sector up 13 per cent to Rs 7000 crore: Report
Feb 25, 2014
DELHI: Private equity investment in the real estate sector increased by 13 per cent to Rs 7,000 crore last year on higher inflows in the residential segment, global property consultant Cushman & Wakefield said.
Steep hike in circle rates likely in Delhi
Feb 24, 2014
DELHI: The capital may witness a 20-30 per cent hike in circle rates across various categories of properties over the next fortnight. The hike may be steeper for the upscale colonies in categories like A and B.
Sebi relies on Sahara order to nail fraudsters
Feb 24, 2014
DELHI: Sebi may still be fighting a legal battle to make Sahara pay over Rs 20,000 crore for refund to investors, but the regulator has cited Supreme Court order in this high-profile case to bring to book operators of at least five illicit money-pooling schemes.

Latest Realty News Of State

Realty Talk's