Kolkata is
witnessing a rise in demand for real estate properties. However, the
demand is not getting reflected on the sales properly. Buyers are
still hoping that the prices of properties will fall further and they
are holding their patience. However, real estate companies are trying
their best to stay in business. For that, they have taken some steps.
Steps Taken by
Real Estate Companies:
Despite of
sluggish growth, competition among builders has grown by leaps and
bounds. This has led to formulation and execution of various
marketing and customer management strategies.
Some real estate
builders organize lucky draw contests for customers coming on first
cum first serve. The prizes offered are of various kinds. It may
happen that the winner has received a home renovation package from
the developer. In some cases, the winner is gifted with an
international tour package.
Some home
developers follow other innovative route to attract customers.
Nowadays, budget has become the limiting factor for any bulky
purchase. That is why customers prefer to buy homes with home loans.
Some real estate builders in Rajarhat help customers to find
home loans that come at reduced interest rates. This ways they build
intimate relationship with home buyers.
Competition among
real estate developers will go on. Soon home developers will get some
respite.
How Real
Estate Companies Will Get Some Respite?
When you have
enough finance with you, then you spend readily. You do not enter
into bargain. After some time, real estate companies will not have to
undergo situations where customers demand for high discounts.
As per the
recommendations of Seventh Pay Commission, government employees will
witness a boost in their salaries and perks. This means that the
purchasing power will increase. This in turn will boost home sales.
Home Sales
Will Rise Due to Development in Retail Sector:
Government
employees can purchase homes as per their requirements. They will
have more purchasing power. Therefore, many of them will like to go
for shopping in malls and cosy retail outlets. For that reason, a
few industry experts have suggested that movie theaters and shopping
malls be open round the clock. The government will soon approve the
Model Shops and Establishment Bill.
Once the retail
outlets become functional round the clock, they will generate more
employment. People who will be working for these outlets will also
enjoy the benefits of purchasing power. This will help real estate
companies to design homes as per the affordability of employees of
retail sector.
Already, a realestate company in Kolkata namely Realtech Nirman has conducted a
research and it has started constructing homes based on different
budgets. These properties are located at various locations of
Kolkata.
The boom in
retail sector will also leave positive effects on warehousing and
logistics sectors. Therefore, the real estate sector will witness
increased footfalls which show that the chances of sales conversions
will go high.
The
recommendations of Seventh Pay Commission will have profound impact
on real estate in positive direction. With increased finance in hand,
people can readily look for various property options and make sound
purchase decisions.
