Homebuyers in Favour of Reputed Developers with Established Track Record
Homebuyers are increasingly turning to reputed and listed developers with an established record to purchase their dream home, resulting in the market share of the top nine listed developers growing to more than 16% in FY21 from just 6% in FY17, credit ratings agency Icra said. Homebuyers have been leaning towards completed inventory and towards developers with an established track record of on-time and quality project completion. The long-term trend of consolidation in the market, which has been a result of evolving consumer preferences and a sustained increase in market share of large developers among recent launches, is likely to continue. The long-term trend of consolidation in the market, which has been a result of evolving consumer preferences and a sustained increase in market share of large developers among recent launches, is likely to continue. Home enquiries have increased post June 2021, while the fundamental demand drivers remain intact with gradual pick-up in economic activity after the second wave and would serve as key enablers of the recovery of sales in the residential realty industry. As the larger developers resume their launch of new projects, which had been temporarily impacted in Q1 FY2022, their share of sales is expected to continue to improve within the overall residential real estate sales,” Icra assistant VP and sector head Kapil Banga said.
Tags : News/Views Developers homebuyers Record Favour Reputed with Established Track