Its consolidation time, say developers; Digital viewing is filtration level I, say experts

In the RERA era there are no changes that are possible, says Praveen Jain, CMD, Tulip Group.

Speaking at the third Webinar of Realty Webseries, a Realty & More and ICCPL initiative, Jain said there can be no changes in construction plan and builder-buyer agreement as it is only after getting registered with RERA, that the agreement goes to the buyer.

The topic for the third Webinar of Realty Webseries was ‘The State of Real Estate Post Covid 19’.

Speaking at the Webinar, Deepak Kapoor, Director, Gulshan Homz said while his company is focussed to completing and delivering their existing projects, there are a lot of developers who are looking at amalgamation, joint ventures, which will be the new norm. “The process has started and you will see the transactions happening six months down the line in this direction”, said Kapoor.

Vikas Wadhawan, Group CFO, Housing.com, Makaan.com, PropTiger.com informed that during the lockdown period, a lot of developers and buyers have shown a lot of interest in digital viewing of properties, which he said is a trend which will become a new normal going forward. “Before a customer actually goes and sees a site, he would like to see the digital view of the site to understand the geography, to understand what are the projects in the vicinity and shortlist one or two projects, which he will go and visit, meet the developer’, said Wadhawan.

Agreeing to what Wadhawan said, and taking it further, Prashant Thakur, Director & Head of Research, ANAROCK Group said that technology also brings in lot of transparency. “So I think this is the first level of filtration that the buyer does automatically on the mind. And that’s a learning that all the developer friends should take’, said Thakur.