Real estate market: How to build India’s future cities

Real estate market How to build India's future cities

The main reason that the Indian real estate market finds itself in trouble today is that prices have become unaffordable, even for most professionals. The underlying reason for this is an artificial scarcity of land in our cities
The resultant shortage of land where apartments, offices and shops can be built inflates prices. Today, as demand starts to weaken across property markets countrywide, we need to think of ways to build really affordable real estate.

To know more: Real estate market: How to build India’s future cities

Times Property: At the pinnacle of the luxury market

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Historically, Mumbai has not just been the financial capital of India but also the’luxury capital’ of the country.

Mumbai’s strong real estate market fundamentals are reflected in all segments, from office space and luxury retail, to luxury housing. Although the port city is constrained for space, it continues to dominate other property markets across India and remains the first choice for luxury brands, film stars, multinational and global conglomerates.

Live Tweet chat with CJ Mathews, Head Marketing, Rustomjee

Rustomjee had hosted a live tweetchat with CJ Mathews, Head Marketing at Rustomjee on 27th February, 2013. The chat was focused around the topic “Does online real estate property listing really work?” Read on for comments and insights by CJ Mathews on the credibility of online real estate property listings, key aspects that need to be showcased in an online property listing by any marketeer and the typical sales cycle for these websites.

@cjmatt9 in a live #ChatWithRustomjee @RustomjeeSpaces

CJ Mathews

CJ Mathews, Head Marketing at Rustomjee

Q1. To start with, would you like to name a few online listing websites as a real estate marketer you visit?

A. In no particular order – MagicBricks, iProperty, Makaan, 99acres are some of the real estate websites that we use to promote Rustomjee

Q2. How would you rate the credibility of online real estate property listing websites to make an actual sale?

A. It’s pretty important for real estate that we be where the customer is searching for us. WWW is the add-on medium to be present in & is largely becoming the consumer’s first stop for information. Specifically real estate websites are contributors to the process of lead generation & thus critical.

Q3. What in your opinion are the 3 key things  to showcase when listing a property online?

A. I would love to say just “location, location, location”! However, there is definitely more to it. There are 4 key things – brand, location, configuration, amenities are important to each listing

Q4. How credible are the online property listings, from a buyer’s point of view? What is the typical sales cycle for these websites?

A. There is that little gap in accuracy of info & I believe consumers are aware of this. Thus real estate websites are credible. Sales cycle starts with WWW being the first stop for information. The next step is verifying data – Meetings with real estate agents & visits to projects follow.

Q5. Any personal experience as a marketer on online property listings or tip you want to share?

A. Well I truly understood the capability of these real estate portals about 3 years ago when  I managed a listing for a Rustomjee township. 300 leads in 3 days; which converted into sales! Tip – Make sure to be on real estate portals but keep an eye on their traffic to get better results

@cjmatt9, Head Marketing on a live tweet #ChatWithRustomjee @RustomjeeSpaces

Connect with us on Twitter to be a part of many more such interactive conversations.

Times Property: Priority list

Priority list for the real estate sector

Priority list for the real estate sector

The real estate sector hopes for lower interest rates, easier finance options and simplification of procedures from the upcoming budget.

As a sector that contributes significantly to meet one of the basic demands of life, the housing industry has much to ask for the Finance minister in the upcoming budget.

Enlisting his demands, Boman Rustom Irani, CMD, Rustomjee says, “Currently, the sector is looking at certain key policy decisions which make home buying a priority for everyone in the country. Giving infrastructure status to the affordable housing sector will help facilitate easy financing and address the housing problem to a large extent.”

Times of India – Makeover: Redevelopment: Turning dust to gold

Rustomjee Aspiree

Rustomjee Aspiree – A commercial redevelopment project undertaken by Rustomjee

For a space starved city, redevelopment offers residents of dilapidated and old buildings the twin advantages of a new, modern home with latest amenities without the need to relocate.

The Times of India – Makeover, highlights the challenges for the same, commented by Mr. Chandresh Mehta, Director, Rustomjee. Mr. Mehta says that there is immense growth in physical infrastructure in terms of open spaces, roads, water and sewerage and the social infrastructure like schools, colleges and hospital development activity of the belt. While huge quantum of money is being collected by the government by way of premiums towards redevelopment, the fluctuating government policies and norms and the colossal approvals are amongst the biggest challenges for redevelopment in the suburban region.

Read More: Redevelopment: Turning dust to gold

Mydigitalfc: Office space demand set to revive, may grow 21% in ’13

Office space demand is expected witness an year-on-year increase of 21 per cent to 38 million sq ft in the calendar year 2013, mainly driven by demand from information technology (IT and IteS), banking, financial services and insurance (BFSI) sector.

Boman Rustom Irani, CMD – Rustomjee, said for the past two years there has been very less addition of office space as there was an oversupply situation and developers mostly focused on residential segment. Now with demand slowly picking up, office space absorption is likely to increase in 2013. He expects a 10-15 per cent price increase in commercial space rentals as demand starts reviving.

Read more: Office space demand set to revive, may grow 21% in ’13

Mumbai Property Exchange: Luxury redefined in the Indian Realty Industry

Prominent developers like Rustomjee, are focusing on bringing home contemporary architecture with all implied sustainability aspects and global features that include luxury spaces and services.

Commenting on this trend catching up in the Indian realty industry, Mr. Boman Rustom Irani, CMD, Rustomjee, says that there is a perceived growth of about 20 – 25% this year in the luxury market as every individual wants to upgrade their lifestyle.

Rustomjee has launched Elements, which has 150 high-end apartments of 4 and 5 BHKs in Upper Juhu. The essence of the offering is that while it is located at one of the best locations, it also offers what individual plots in Juhu can’t offer.

Read the article here: Luxury redefined in the Indian Realty Industry