Homebuyres have core focus on health & wellness now: Sanjeev-Ruparel Realty
Ever since the first wave, the business dynamics of the real estate sector have shifted for the better. Homebuyers are now looking for properties that offer large spaces, better amenities, and a core focus on health & wellness. With the overall pricing of the residential asset class being at a historic low, it is encouraging homebuyers to come forward and purchase homes now, says Sanjeev Chandiramani, Chief Operating Officer, Ruparel Realty, in an exclusive interview to RealtyNinfra.com. Here are the excerpts:
Ques: How do you see the upcoming festive season for the real estate industry in general?
Considering the momentum that the residential sector has achieved in the last few quarters, we expect the festive season to boost the pace even further with season-specific lucrative offers by developers.
Ques: How do you see any change in the perception/requirement of the home buyers in recent times? If yes, what?
The Pandemic has inspired millennials, fence-sitters to realign their priorities and invest in a residential asset class that is less volatile to market fluctuations compared to gold and other investment avenues. Ever since the first wave, the business dynamics of the real estate sector have shifted for the better. Homebuyers are now looking for properties that offer large spaces, better amenities, and a core focus on health & wellness. With the overall pricing of the residential asset class being at a historic low, it is encouraging homebuyers & fence-sitters to invest in residential real estate as the market today has become an end-user market.
Ques: Has RERA served its purpose? What changes can be brought about in RERA?
Yes and it will continue to streamline the sector even further in years to come. The emergence of RERA helped in organizing the sector keeping in mind the perception of the home buyer. It has managed to change the way people perceive the real estate sector and successfully enhanced the builder-buyer relationship over the last five years.
Ques: Whhat regulatory changes are required from the government to spur the real estate market in the country?
While the sector is getting well organized as the days go by, there is still a need for single-window clearance and faster approvals to create new projects that cater to the newfound demand of home buyers. Industry status is a long standing need alongside cheaper and better availability of capital to the industry.Moreover, there is also a requirement to improve the project financing norms to facilitate large-scale projects.