In general, there is not any major change in the home buying sentiment in Delhi NCR. However, there is a captioned change in the affordable housing arena, shares Mr Surinder Singh, Director, GLS Group.
1. What is the general home-buying sentiment in your city?
There is not any major change in the buying sentiment in the city. Just that the non-banking finance companies (NBFCs) have created a fear in the customers to stop the housing loan.
2. How have the sales, new launches and property price movement been in the last three quarters?
There is no major change in the general housing segment. But, in the affordable housing arena, there is a captioned change. The handing over of projects by the developers to the customers has instilled confidence in them about the quality and assured delivery of the property.
3. How have the city developers prepared for the festive quarter? What kinds of deals are floating in the market?
This season, there is nothing much to offer as far as the affordable housing is concerned. However, in the case of other budget segments, the customer is offered with a wide array of plans and schemes which includes but is not limited to Construction-Linked Plan, Subvention plan, and TLP (Total Loan Portfolio) etc. Various other schemes are also floated in order to attract the customers.
4. Do you think these deals will help to lure the buyers and augment sales?
No. The aforementioned deals will not be much helpful in luring the buyers, because the general sentiment exhibits a downward trend.
5. Do you see a positive price movement post the festive season?
No. There is no positive price movement as such. We think that the customers will be waiting for better deals in the future along with a further decline in the interest rates.
6. Is the festive season the best time for the investors to return to the market or should they wait further?
No. The festive season is not a good time for the investors to return to the market. The share markets are low at this time so the customers will probably have to wait further for the right time to return to the realty market.
7. How has been the performance of your city’s realty landscape this year? Is it at par with the expectations? What are the areas high on buyers’ popularity charts so far this year?
The performance of the city’s realty landscape has not really changed. There is no change in the expectations. The interest rate, accountability in RERA, and the infrastructure has created negativity in the populace.
8. Do you see realty recovering fully by the end of this year?
I think we really will have to wait for another one year for signs of progression in the property market.