A paradigm shift is visible in the residential space of India. Gone are the days when any residential project with a decent brochure and ample marketing push would sell out in record time and number. Instead, with millions of home buyers left in the lurch by real-estate developers across the country, a builder’s track record and financial stability are the new pointers for home buyers today.
Recently released numbers in several studies have shown that Indian home buyers are moving towards top developers, while smaller developers are not being approached as much.
About 50% of small real-estate developers have exited the industry between FY12 and FY18 because of Indian home buyers’ distrust – owing to rampant frauds, stalled projects and fly-by-night operations. On the bright side, credible developers who deliver products on time and meet all regulatory requirements have benefited from this. The market share of such entities has also increased, especially for the top 10 builders in the country.
Published by: Realty Plus
Date: 29 August 2019
