Millennium Post

Realty of India: This is the best time for NRIs to invest here

What are the main challenged faced by the industry at the moment?
Our main challenge lies in educating our potential and existing customers. They sometimes fail to understand the process and entire functioning of real estate business and  overall scenario of real estate market as well. Secondly, the growth of real estate business is a concern for us because at the moment it is growing vertically while it must grow horizontally as well. We faced teething problems in Chennai during investment and building as well. Also the size, language and experience of a particular is missing which acts as an obstacle.

What is your opinion about investment in emerging real estate markets such as Gurgaon, Noida, Navi Mumbai, Thane etc?
Gurgaon and Noida are established real estate markets where investors have made a killing for over twodecades. The areas in and around Mumbai, will continue to grow because of the demand supply deficit in the main city.

How much effort goes in to advertising and promotional campaigns and do you feel the need to invest more into marketing campaigns?
Well, we do work hard upon our advertising campaigns just to educate our potential customers well so as to enable them easy buying and selling of properties. At the moment we are satisfied with our campaigns and advertising work because our product is simple and we have already built 31 colonies in the last 25 years. This year is all about possessions and we have explored areas like Lucknow, Bangalore and Chennai for building the property. If the existing style and approach of marketing doesn’t work then we would definitely be more aggressive in advertising in times ahead.

How long should one stay invested to reap the maximum benefit in residential real estate market?
A good five years of horizon is a perfect time period to attain the maximum benefit in real estate market, so people must practice patience too.

What is a better option —an affordable project from a local developer or a luxury project from a reputed developer?
The choice is to be made based on the depth of the buyer's disposable income. Both categories are good. However, the money to be put upfront is normally a deciding factor. A reputed developer obviously scores over a new entrant in terms of experience and delivery.

What is your opinion about investing in Greater Noida, Noida or Gurgaon. I am an NRI residing in USA and seek your expert opinion.

For NRIs, there is no better time to invest than now. Since, you are not going to be using the property regularly, I would suggest luxury plots at Kasauli, New Chandigarh and Lucknow, which are new growth corridors upcoming places and yes DLF is offering properties at all these mentioned locations.
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