India Development News & Foreign Investment Opportunities

NCR properties by reputed developers are selling

Technology: a key differentiator

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Technology: a key differentiator

 

 

Projects by reputed developers in the National Capital Region (NCR) have been successful, said real estate veteran Anuj Puri, dismissing misconception of poorly performing properties.

“There is a misconception that all projects in NCR are performing poorly, which is far from reality,” said Puri, chairman of ANAROCK Property Consultants.

“In fact, we have successfully marketed projects by reputed developers across this region,” he said in a market update.

These include 18 projects in Gurugram, 16 in Noida and 6 in Ghaziabad.

“The results reflect that residential real estate in NCR can and does draw positive traction as long as it involves the right developers partnered by the right tech-enabled brokerage services,” he said.

A full RERA-registered real estate consultancy, ANAROCK is currently finalizing its 100th ongoing exclusive mandate in Navi Mumbai.

With 300 project mandates successfully completed, this brings the total number of exclusively mandated projects to 400.

Mandates in hand include 15 projects in Mumbai, 10 in Navi Mumbai, 15 in Pune, 17 in NCR (North & South Gurgaon, Noida and Ghaziabad), 12 in Hyderabad, 9 in Bengaluru, 6 in Chennai, 6 in Ahmedabad and 7 in Kolkata.

As per ANAROCK’s prerequisite due diligence prior to mandate acceptance, all projects have been vetted for RERA registration, their developers’ financial capability to ensure time-bound completion, completeness of documentation – and fairness of ticket sizes.

The primary advantage that ANAROCK’s model of bulk inventory marketing offers customers is that they can pre-negotiate the most competitive prices along with exclusive add-on benefits, thanks to the economies of scale involved in exclusive mandates of entire projects.

ANAROCK today announced the successful closure of 300 exclusive mandates to market residential projects across India and in the Gulf as end of February 2019.

The cumulative market value of the inventory sold to date exceeds Rs.22,000 crore.

Says Puri: “ANAROCK has strategically partnered with over 150 top developers across 13 Indian cities and in the Gulf. The market value of the overall mandated inventory we have sold since our launch in 2017 exceeds Rs.22,000 crore across the 300 residential projects.”

Interestingly, 11,000 units of these, with a value of Rs.10,000 Cr, were sold in the current financial year (FY18-19) itself. The combination of focused experienced brokerage and our bespoke technology has been a winning combination.”

ANAROCK currently sells housing inventory at a rate of 1,000 apartments (or approx. 1,000,000 sq ft.) per month. This success rate, unprecedented in the currently subdued residential real estate market, is the result of their proprietary technology coupled with immediate expert offline support.

ANAROCK’s bespoke real estate marketing technology has generated 1.2 million unique enquiries to date, while its proprietary sales and collaboration management software enables its highly-specialized 1,500-strong sales force to service these enquiries instantly in real time and in the shortest-possible duration.

“We have invested heavily in our technology platforms, and these investments are paying off as intended – in the form of actual on-ground sales creating a win-win equation for developers, end-users and investors,” said Anuj Puri.

“Of the Rs.400 crore allocated and spent in our marketing budget, Rs.100 crore have been invested exclusively in our digital platforms. This has enabled us to achieve a massive level of operational scale within a relatively short period of less than two years.”

ANAROCK has launched Operations in Abu Dhabi and plans to expand next into Oman, Bahrain, Saudi Arabia and Kuwait. ANAROCK has operations in Dubai since 2017.

NRI investors have a higher appetite for under-construction properties than resident Indians and higher focus on investment for ROI rather than on end-use, said ANAROCK.

In ANAROCK’s Consumer Sentiment Survey, NRIs from the GCC countries comprised maximum share with 36% (followed by 23% from Western Europe, 22% in Asia and 19% in North America)

More than 50% of NRIs living and working in the UAE are interested in Indian realty and top investment cities are Bangalore, Mumbai, Delhi NCR, Hyderabad, Chennai & Kochi, according to the consultancy.

“We are in aggressive expansion mode in this key market. After our highly-successful deployment in Dubai, Abu Dhabi is the logical next step,” says

Shajai Jacob, CEO – GCC, ANAROCK Property Consultants, said: “ANAROCK’s trademark accountability and transparency have been key differentiators in this region, which has historically been plagued by unscrupulous real estate marketing activities.

“For the first time, real estate-focused NRIs in Abu Dhabi will have access to a wide gamut of under-construction and ready-to-move investment options. ANAROCK now offers them a much-needed alternative to NRI-focused fly-by-night brokerages which sell dubious products for high commissions, jeopardising NRIs’ hard-earned wealth”.

While office and retail real estate have also become areas of interest to Indian NRIs in the UAE, residential properties continue to be a major draw. Like every other Indian, NRIs attribute a lot of value to investment in realty, in anticipation of their eventual return to India as well as for rental asset yields.

ANAROCK’s recently-published Consumer Sentiment Survey confirmed that some 78% of the NRI respondents prefer real estate over other asset classes like stocks, fixed deposits, gold and mutual funds.

Interestingly, of all the NRI participants in the survey, those residing in the GCC countries comprised maximum share with 36% (followed by 23% from Western Europe, 22% in Asia and 19% in North America).

The survey also confirmed that the preferred cities for investment by these NRIs include Bangalore, Mumbai, Delhi NCR, Hyderabad, Chennai and Kochi. fiinews.com

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