Dehradun, February 16, 2015
For the real estate sector, 2014 has been moderate as far as business sentiments are considered while most of the policies and amendments announced in 2014 will be effected in 2015. In declared Union Budget FY 2014-15, the new elected prime minister of India has been envisioning the India's real estate sector as ongoing energy feed.
While declared IIMB Magicbricks Housing Sentiment Index (HSI) for Q3 of FY 2014-15 was tremendously down across 10 cities. Primarily Delhi has seen a 32% drop in HSI due to increment in circle rate by up to 20% in some regions and high level of unsold houses/apartment that are ready to move in. Bengaluru has seen 17% drop in sentiments with 13% drop in last quarter because of higher registration cost for buyers. Ahmedabad has seen 33% drop in HSI.
"Inspite of high level of unsold inventory in major cities, the real estate prices continued to remain high. The registration cost are now higher in some states due to the increment in circle rate in some region. Real Estate as an asset class has underperformed the equity markets in the past year and needs a boost, both in terms of accelerated infrastructure development and reduction in interest rates." said by Mr. Uma Sitaraman, Lead Researcher, IIMB-Century Real Estate Research Initiative (CRERI)
For the first time in real estate sector of India, an innovative & intuitive idea has evolved. Salarpuria Sattva Group has launched its residential project online in an exclusive alliance with MagicBrick.com. As this residential project is situated in Bangalore, the Indian IT Hub, SSG has partner with India's property portal - MagicBrick.com to ensure the success of this launch.
On this occasion, Mr. Bijay Agarwal, CMD, Salarpuria Sattva Group has mentioned that they have observed that the reach of online is more effective than the traditional media. They believe that their presence of online, mobile and its market leadership will make this launch a huge success. First time, Salarpuria Sattva Group has launched its residential project online with Magicbricks.com and offered an exclusive launch discount of Rs. 300/-per sq. ft. to MB users for the first set of bookings.
The changes in real estate market are more perceptible. The reduction in Inflation including house price has been recorded lowest level in the recallable history. In most of the cities, the demand in property buying is back with force as enquires have regenerated and rebounded and developers & builders are reading between the line more accurately and coming up with the right offers & schemes that are relevant to demand.
Along with the potential & highly demand of the market, the Real Estate developers are looking to launched their projects with online portal for following key reasons
Their ability to effectively focus on targeted audience for specific industry
Directly communicate with buyers and receive their request, queries and feedback
Innovative & Intuitive web interface
Interactive multimedia rich content.
The third largest market share holding classified websites in Indian market, TheGooddeal.in contains 25,887 ads in real estate category which allows you buy, sell and rent property with no cost and share it with desirable audience on social media.
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