'Ready to move in' homes are season's flavour'
After months of uncertainty the real estate appears to be moving back on to the track and a change seems to be emerging in the choice of property seekers. This festive season, a survey that sought to document the prevailing buyers perception revealed a general shift towards a 'ready to move in' home resulting from a cautious approach being adopted by them.
Called 'Festive Reality, the national survey by the property portal 'makaan.com' that covered property seekers and leading developers across metros and tier II cities, states that with developers not able to deliver projects within the stipulated time period, seekers now are veering towards a more cautious approach when it comes to making a property purchase. In fact, they are even prepared to overlook property options tagged with heavy discounts and prefer a safer bet in the form of a 'ready to move in' home.
Towards this, majority of the survey participants were found not really bothered about brands but opt for even moderately known developer if there is a ready property to acquire.
The survey also records freebies as the flavour of the season for the new and under construction projects. Having sensed the mood building up in favour of affordable housing, the developers could come out with more options in this segment.
On freebies front, a whooping majority of home buyers and also the developers across cities covered by the survey including Hyderabad, appeared to be in consonance.
If the form of freebies is to be considered, the most favoured once appears to be in the form of cash discounts for the property seekers and the developers too look forward to offer the same.
Cash discounts favoured
"Today property seekers have become more alert, they prefer perks that are easy to evaluate and can directly make difference to the cost of a property," it records adding that homebuyers found cash discounts more appealing then options of fully furnished homes, cars, electronics and rebate on EMI.
Overall, the mood on the property scenario seem to be building up more positively this festive season than what prevailed for months since global recession and a horde of other factors applied brakes to the boom.
Now, the buyers appear to be turning more confident making developers more expectant.
The emerging mood from the survey happens to be that while more prospective buyers were confirming their likelihood of a property purchase this season, developers are expecting a jump in real estate transaction and boost the market.
After almost a year of lull that had the real estate sector worried, there seem to be signs of construction activity picking up a bit and sales rising slightly.