How would you overview the real estate market, by evaluating the current demand and potential stances?
Sales and new launches are expected to improve; while affordable and mid segments are set to lead amidst government initiatives and developer realignment of product-mix. Also, there has been a strong push by the government for the affordable housing (less than ₹50 lakh) segment as this segment accounts for around 50 per cent of the total residential housing sales, while a large number of developers are getting into this segment, the government may have to announce some strong measures to further propel demand.
One of the major trends expected to rule the market is the timely delivery after the completion of projects, which will encourage the buyers to invest in the realty sector, marking 2020 a right time to buy a property. This will benefit the developers and the overall housing market by increasing the sales of projects and demand.
Share about your latest big-hit projects.
The Ultimus is strategically located bang on 75 Meter Running Road and is also well connected to both NH-8 & Dwarka Expressway offering abundance of greenery and tropical style landscaping.
The project will have dedicated 25000 sq. ft. area for Kids Play Area. The world class Kids Play Zone is no child’s play and while designing such a project. This Project is IGBC Gold certified project.
What are your views on government policies and reforms?
The year 2019 has ended on a good note with various government policies extending their helping hands to the developers. A slew of acts and policy reforms have empowered the buyers more this year and will help the realty industry gain its confidence. The realty market has absorbed all the reforms, which gave much confidence to homebuyers as well. The markets of Delhi NCR saw corrections in some popular housing pockets of Gurgaon and Noida, and their sales volume has increased in the wake of these price corrections. Now, the sector is showing signs of recovery, and both mid- and affordable-housing segments are registering improvements in sales.
How do you view the impact of RERA norms in the construction world?
With the implementation of the RERA laws, which seek to provide housing for all by 2022, the real estate sector witnessed a more transparent culture. With an aim to adjoin and support this initiative by the Government of India, MRG World seeks to redefine the sector by adhering to the laws and principles that are idealized by the GOI. We keep on-time delivery and quality assurance as for our main focus and drive all our energies to work towards it. With this mission, we see a revolutionized future for the Real estate. RERA has undoubtedly been the biggest reform. The announcement of this law has seen mixed reviews from developers as well as home buyers. Granting ‘infrastructure’ status to the affordable housing sector can serve as a significant step in achieving the government’s ‘Housing for All by 2022’ mission. This could be a game-changing step for developers who already have a good presence in the affordable segment.
Is there is something you would like to share with your audience at large?
We seek to paint a new real estate landscape, set new parameters of the affordable living accommodating the luxurious yet inexpensive lifestyle. Rekindling the hopes of millions of people, our aim is to pave a new path and set new standards, marking a fresh, vital and innovative initiative in the real estate sector by redefining its condition.
