Recent trends suggest that the home buyers prefer to buy homes in completed projects by those real estate owners who have delivered good products in the past.
This story is taken from Business Standard (source).
“Most developers in the listed space have aggressive launch plans from H2 of this financial year and are looking to grow at a double-digit sales CAGR (compound annual growth rate) over the next two-three years. This will lead to market share gains assuming that the industry size remains stagnant. We assume that overall annual residential market sales value will remain similar to FY20 levels in FY23 and FY24,” said Adhidev Chattopadhyay, vice-president, equity research, real estate, at ICICI Securities.
This suggests that unlisted buyers need to optimize their project operations for quality, compliance, and timelines to get into the bigger pie of market share for project delivery. It builds their credibility for their other and future projects which helps in their portfolio expansion.
Millennials are driving the home buying trends in India. Their home buying trends show that they trust the listed and established real estate owners more. It means that there is an opportunity for the new or less established residential property owners to deliver on the promise. It applies to many upcoming and promising housing societies and residential projects in Mohali Aerocity, on the Mohali Airport Road.
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