Realty Investors prefer ‘’Ready to Move in Properties’’ than the ‘’Pre-Launch Projects’’
In New Delhi the realty investors are preferring to buy pre-owned residential properties and independent plots. This happened in the backdrop of consumer resentment at the developers in the new or under-construction projects. The developers mostly delay the projects and do not deliver all the amenities which they had promised during the pre-launch phase.
This trend is evident not only in New Delhi, but also in Noida, Delhi and Mumbai. Experts say that these might be the initial trends however this could grow because of rising consumer activism. In an era of internet, any movement can spread like wild fire if the right fuel is put in, and due to its global reach, a movement can be supported by people from any part of the globe.
Often the broker community has to take the responsibility for delays and other issues related to the developers and hence the investors are shifting to the resale market. According to the analysts, the number of queries for ‘ready to move in‘ properties has seen the biggest rise in the recent times after the formation of a stable government at the Centre.
Sanjay Sharma the managing director of Qubrex (a real estate brokerage & consultancy firm) stated that the buyers are sceptical about the new properties by the developers because of issues such as delays in delivery, carpet area (wall to wall) less than what was actually committed and other quality issues.
Source- Business Standard
independent plots, pre launch phase, pre-launch projects, pre-owned residential properties, Qubrex, ready-to-move-in properties
