Real estate is a buyers’ market: Navin’s top woman

Chennai: The real estate sector is back on its feet and has started running rightaway as investors have pumped in around Rs 24,011 crore in the first half of 2018.

This was due to rise in buyers’ confidence on Rera implementation and improving capital values.

IT parks and commercial real estate alone got the biggest investment share of around Rs 13,151 crore, followed by retail real estate at around $300 million or Rs 1,898 crore.

An ideal alternative to investing in gold, real estate investment has been the talk of the hour and on the back of this, News Today had an interaction with executive director at Navin’s, Bhavani Kumar.

She spoke about factors to consider before investing in real estate, the future of industry and benefits of the investment.

Excerpts from her interview:

Q) Being a prime player in Chennai, how do you think the market has done in H1 this year?
A) Post demonetization, RERA and GST implementation the market has witnessed stagnant growth. However we predict the market to adapt to these changes and flourish in the coming months.

Q) After the 2015 deluge and implementation of RERA in the subsequent year, how do you think the market has responded?
A) At Navin’s we welcome RERA move. Even before RERA implementation, we have stringently followed all guidelines. Even before government mandated, we always came out with brochure for carpet area and plinth area. Since RERA is beneficial for the customers due to its transparency, consumers will now be aware of the investment of their hard earned money and make thoughtful investment in real estate.

Q) How important is real estate (RE) when it comes to higher ROI in today’s market?
A) Considering the case of gold investment or gold bond the interest rates are very low and converting these bonds to cash takes time. But in real estate, converting the property to money is not bond dependent and as and when required, if the property is good considering many factors, the conversion happens easily. Now it is buyer’s market and for more than five to 10 years the land and property prices have not increased. With market growth predicted to increase, investing in real estate now is the right time and will yield higher ROI in years to come.

Q) Give us your thoughts on women investing in RE and how it has changed the demographic.
A) In the current market scenario, with increasing women employment, there are plenty of personal buyers over commercial. Women tend to save money over a period of time and look for good investment options for secured future. In fact it is not necessary to save money for a long time and buy property. One can apply for housing loan and banks which now sanction up to 80 per cent home loans, which benefit the homebuyers. Government’s implementation of Pradhan Mantri Awas Yojana (PMAY) is a boost for women yearning to buy homes. The rate of interest for women buyers are subsidized and every women, widower and transgender can avail these benefits.

Q) What are the factors that one has to consider before investing in this industry?
A) The first important factor is procuring the legal document, legal opinion on whether the property adheres to CMDA rules, RERA rules and clarity on carpet area, plinth area. The next factor is the location of property and its distance from workplace. One should also consider the other amenities available around the project and a conducive neighborhood.

Q) What do you think the future has in store for the market, Chennai and nation?
A) The market will definitely grow in future given that a lot of policies are implemented by the Government to achieve ‘Housing for all’ agenda. The technological advancements like smart homes, IOT is shaping up the industry and will play a key role in reinforcing its growth.

Benefits investing in RE
“Today’s market is buyers market. With RERA, projects will be standardized and certified by the authorities, which in turn making it a safe investment. For the companies and individuals looking at higher ROI in the future, real estate will be an appropriate choice.”
From her words…
“At Navin’s we always adhered to CMDA rules from the beginning. For us customer satisfaction, happiness and peace of mind are very important and continue to remain as our main criteria. Our recent Medavakkam Starwood Towers 2.0 launch is an extension of this measures to make home buying a convenient and pleasurable experience. We offer smart homes at an affordable price to let our customers enjoy the benefit of luxury inexpensively.”

NT Bureau