How real estate builders in India are coping with the changing market scenario

Real estate industry in India underwent a low phase in last decade or two. It faced many problems on financial front, got involved with underworld and earned bad reputation due to wrongdoings by some black-sheep. The industry sentiments hit a low after introduction of RERA (Real Estate Regulatory Authority). Real estate builders in India have managed to handle such low phase and emerge as winning businessmen and brand custodians of renowned real estate brand. They managed to turn their companies into domestic real estate pioneers. With RERA and some other policy changes, the industry underwent drastic transformation which had good and bad sides. The good side included – better environment for the buyers, more buyer confidence, replacement of investors with genuine buyers, forced financial discipline in the developer community in terms of proper fund allocation for every project, timely delivery of the possession, increased and better access to formal finance system, flushing out of bad players from the industry etc. The bad side includes – forced financial discipline to ensure that 70% of the funds collected from the buyers are used for that particular project, more compliance and regulation to follow, more formalities to be fulfilled in order to access formal financial fund pool. The good side definitely outweighed the bad side.

 

There are many top real estate builders in India who are building great projects all across the country. Their presence is mostly in the top metros and tier II cities, but looking at the growing expansion of new emerging cities, they are not shying away from investing in land and projects in other cities. They are bringing the latest technology to the country, this is helping in improving the construction standards and meeting the buyer expectations. Customers are demanding international quality of interiors and other things in their house. People are preferring to live in communities where they don’t need to travel beyond a few meters or kilometres for their daily requirements, they want the schools and hospitals to be in easily travelable distance. Good brands are succeeding in providing them with good facilitate and amenities in standalone buildings as well as in gated complexes.