More Amenities are offered at Lower Prices

The real estate market in whole of India did not fare well with unsold stock piling up in most of the cities. The quarter ending September 2014 had it’s lows with only enquiries pouring in, in many cities which kept the optimism of the realtors up and running but when it came down to sales the figures were very low. This resulted in the decrease of pre-launch projects and the unsold inventory climbing up putting even the mega players of real estate like the DLF in to an untoward situation.

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Hyderabad is no exception from this overall picture and as the high-end market of the segment did not fare well the realtors have concentrated on the mid segment and many developers have changed their positioning in the market to tailor make their image to serve the upper-mid and mid-segment.

The market watchers of Hyderabad has opined that even after so much of hype and propaganda of the pre-launch and launch offers, the sales figures in the upper segment did not even touch the 20 percent benchmark due to which these developers have switched their attention to the mid segment purchasers.

The market watchers feel that the prices of the luxury and super luxury apartments have been slashed in prices by almost 50 percent. In line with this, the offerings too have been tailor made to suit the mid and upper-mid segment. Let’s find out how it’s being done.

At Rupees 90 lakhs, what was on offer was a 3 BHK luxury apartment having a Jacuzzi, designer tiles, luxurious bathroom fittings, a luxurious and fancy club house that was large with exotic plants in the butterfly park and landscaped gardens. Presently the projects that are offered at Rs. 70 lakhs are with vitrified tiles and floorings but without the Jacuzzi and high end fittings in the bathroom. There is a standard garden area without the butterfly park with a smaller club house.

The realtors have noticed that many developers have adopted newer and cheaper technologies which are helping them to complete the project faster and the lowering the cost as well. Such moves have made the developers price the apartments at a 35 percent lower than the prevailing or announced prices.

This move from most of the builders has made them offer many options in the range of Rupees 40 to Rupees 70 lakhs and they can offer the customers with several amenities that were hence forth not possible at that price. So the products are designed in a new way which looks more lucrative lowering the price which adds to the attraction of the inhibited buyers.

There is indeed an influx of new entrants in to the field of development and in that the old players have devised such products to remain competitive. Whatever may be the reason, it’s certainly good news for the buyer of the middle segment.

If you are looking for flats for sale in Bangalore at affordable prices and with good amenities, visit Dreamz Infra builders. You will get flat for just around 20 lakhs rupees.

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Is The Market Reviving? Find Out What The HSI Index Say

In the quarter ending June 2014, which recorded slow sales, the July – September 2014 quarter showed a different trend. The sales were surely down but the enquiries came in bulk which made the market watchers to think that this is probably a positive indication. They thought the buyers’ assurance over the market has dwindled and that is why the home buyers and investors are in a wait and watch mode. From this scenario few experts noted that a few trigger in the market conditions can boost sales and can help the buyer’s assessment of affordability to increase. The trigger could be an interest rate cut or few noted healthy signs in the economy. But with the new government in place showing clear signs of putting the Indian economy back on track, the government passing Union budget and higher salaries in IT and ITeS sector, is there any improvement of the buyer’s sentiments? Is there really a revival in the market? Well, the realty firms have noted that in the last month, in few cities the time between enquiry and sales have diminished showing buyer’s eagerness of buying real estate property. This seemed to be a healthy sign. But the question still remains whether after the lull of two years in the real estate market, is the market showing signs of revival? Will it again go back to its glory?

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The reality in the last two quarter in most of the cities was bleak with piles of unsold inventory being loaded with slow sales. The launches also slowed down. In cities like Pune, the sales were slow; the unsold stock high with high interest rates but there was no reduction of prices.

A recent survey by IIM Bangalore and MB HIS (Housing Sentiment Index) throws new insight in to the buyer’s sentiments and what really the buyer has in mind. The survey found out that for the 2nd quarter of 2014-15, the buyers of homes expect property prices to rise across the country. The measurement of Housing Sentiment Index in 10 cities dropped by 4 percent this quarter ending September 2014 to 114. A score of 100 means that the prices will remain the same. The survey conducted was in cities like Bangalore, Ahmedabad, Chennai, Delhi, Hyderabad, Gurgaon, Kolkata, Noida, Pune and Mumbai.

Let us examine the city wise situation and the buyer’s sentiments in each city

The buyer’s sentiments in Ahmedabad rose by 30 percent which the experts attribute for the government policies and the start of new industries. The buyer’s sentiments in Bangalore, on the other hand dropped by 13 percent to a score of 124. Experts think that shortage of affordable housing and rising prices may be the reason. Pune registered a high Buyer’s sentiment with a rise of 5 percent to 131 which made Pune the highest sentiment scorer. Social and physical infrastructure development may be making Pune a preferred residential location. Hyderabad showed a drop of HSI by 12 percent compared to the previous quarter with the scores coming to 104. The national HSI came down by 4 percent.

Summarizing the results of the survey the lead researchers and the experts opined that the buyers are still in a wait and watch mode and are waiting for the market to become more stable. They also opine that with more effective policies in the real estate sector and with expectation of the economy to perform better, the buyer’s sentiments are sure to improve which would be reflected in the sales figures.

Dreamz Infra is providing flats for sale in Bengaluru at very affordable prices (around 20 to 25 lakhs rupees). Visit below blog links for Dreamz Infra Customer forum and participate if you have any questions on Dreamz Infra Business.

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