Being Good is Good Business
Come august and festivities are all around us. The auspicious time boosts the consumer sentiments towards property buying. Developers too try to build on this positive market sentiment and offer discounts and freebies to attract buyers. While it is a marketing strategy for the developers to get more inquiries, the buyers are wise enough to analyse the offers judiciously before making a purchase. Overall, the new policies and regulations are giving the prospective home buyers more power and confidence to return to invest in real estate.This season will definitely be better than the past three years. Realty+ magazine has been at the forefront of Indian real estate sector, exploring the domestic as well as international trends and their impact on the consumers. Taking it to the next level, The Realty+ Show on Republic TV discusses pertinent issue with the real estate professionals to give real time insights into the property trends for the benefit of the end-users. In my assessment, the growth of real estate in India lies at the bottom of the pyramid. The most promising realty market is not the luxury or the burgeoning mid-income segment, but the billions of aspiring economically weaker section of the society who dream to own a home. The fact is corroborated by the swelling home loan category which is below Rs 2 lakhs, mostly in rural areas or semi-urban areas. With the government’s new interest subsidy scheme, this category will see further growth in terms of housing demand. But is Indian real estate ready to take benefit from this huge demand? While, the private developers need to create larger affordable housing stock that is not just a vertical slum but offers good quality homes, the states too need to further incentivize and create an eco-system that enables the developers to garner some profit margins while serving the need of the nation. The next Realty+ conclave in Delhi this October will bring about the stakeholders of the real estate industry together to deliberate on topics such as these and probably raise some thought provoking ideas that everyone can take back to bring them to action. Our endeavour is to bring the best minds of the industry together, help them collaborate for the collective prosperity of the real estate sector and share that prosperity with the less fortunate. In a very real sense, this is Good Business. Season’s Greetings to all our readers! Annurag Batra Editor-in Chief
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