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<ul><li>Real estate tops as preferred investment asset class for 47% respondents. </li><li>About 58% of homebuyers, who are primarily end-users, are looking for ready-to-move-in (<keyword id="15089675" type="General" weightage="50" keywordseo="rtmi" source="Orion">RTMI</keyword>) properties. </li><li>Housing prices recorded a 7% year-on-year increase in April-June quarter of 2022.</li></ul> Real estate is <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’s most-preferred asset class for investments in India, according to a Housing.com and <keyword id="6404896" type="General" weightage="80" keywordseo="naredco" source="Orion">NAREDCO</keyword> survey released on Monday. Nearly 50% of prospective customers are expecting prices to rise in the upcoming months due to strong demand during festive season, the survey claims. Housing.com, one of India’s full-stack prop-tech platforms, and NAREDCO (National Real Estate Development Council) conducted a joint survey of over 1,000 participants to gauge consumer sentiment and released the ‘Residential Realty Consumer Sentiment Survey H2 2022' report. As per the survey findings, 47% of respondents prefer to invest in real estate, the highest compared to other asset classes such as stocks, gold and fixed deposits. The data shows that 21% of respondents prefer to invest in the stock market, 16% in fixed deposits and 15% in gold. Housing prices recorded a 7% year-on-year increase in the April-June quarter of 2022. "India's residential market has seen a sharp revival in demand after the second wave of the Covid-19 pandemic. The rising cost of borrowing, increase in input costs and strong demand has resulted in a rise in housing prices," said, <keyword id="278771" type="General" weightage="50" keywordseo="dhruv-agarwala" source="Orion">Dhruv Agarwala</keyword>, Group CEO, Housing.com, PropTiger.com and Makaan.com Homebuyer sentiment has received a significant boost due to increased importance of home ownership, the need for extra space amidst hybrid-work policies adopted by many companies, and the exigency for safety and security. The survey observed that 58% of homebuyers, who are primarily end-users, are looking for ready-to-move-in (RTMI) properties. "Real estate sector in India is witnessing green shoots of recovery, thanks to various policy interventions implemented by the government, aiding the real estate sector to grow and ensuring speedy recovery of the industry post-Covid,” said <keyword id="5678919" type="General" weightage="50" keywordseo="rajan-bandelkar" source="Orion">Rajan Bandelkar</keyword>, President, NAREDCO. Will the repo rate hike deter homebuyers in India? The residential markets across India remain upbeat despite growing concerns about rising interest rates. The expected increase in <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> repo rate by 50 basis points will not deter homeowners from purchasing property in India, says <keyword id="3400735" type="General" weightage="50" keywordseo="ankita-sood" source="Orion">Ankita Sood</keyword>, head of research at Housing.com. The repo rate stands at 5.4% as of now and the RBI may hike rates by 50 bps in its upcoming policy meeting this week. “While the hike was imminent, it remains below the pre-pandemic levels of 5-6%. The confidence in future earnings, coupled with the pandemic-induced importance of homeownership, will continue to drive residential sales not only in the top metros but also in the Tier-II cities,” added Sood. According to the Housing.com-NAREDCO report, the income outlook continues to strengthen and has reached an all-time high of 65% since 2020. “Declining interest rates were a key reason for the massive housing demand surge in the past two years. Also, the pandemic reinstated the importance of owning physical assets like real estate. This time around, the demand revival even included the previously rent-favouring millennials – who continue to be on the market for homes,” Anuj Puri, Chairman - <keyword id="6596330" type="General" weightage="50" keywordseo="anarock-group" source="Orion">ANAROCK Group</keyword>. Digital sales and marketing platforms have become the mainstay not only to search for a home, but also to close deals online or in just one or two site visits. The survey shows that 34% of homebuyers have suggested that they are willing to buy a home completely online or just after one site visit. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/icicidirect-launches-online-platform-flash-trade-for-fo-traders/articleshow/94454273.cms">ICICIdirect launches online platform Flash Trade for F&amp;O traders</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/great-resignation-impact-being-felt-in-india-as-attrition-rate-remains-elevated-at-20-in-2022/articleshow/94453768.cms">Great resignation impact being felt in India as attrition rate remains elevated at 20% in 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/india-inc-set-to-offer-average-salary-hikes-of-at-least-10-4-in-2023-says-aon/articleshow/94452941.cms">India inc. set to offer average salary hikes of at least 10.4% in 2023, says Aon</a>

Prospective homebuyers expect property prices to increase

<ul><li>The demand for <keyword id="3248028" type="General" weightage="20" keywordseo="ready-to-move-in" source="Orion">ready-to-move-in</keyword> (RTMI) properties has increased from 78% in 2022 to 85% in 2023. </li><li>In metros areas, an increasing number of purchasers are leaning towards acquiring apartments or houses situated within <keyword id="4042409" type="General" weightage="20" keywordseo="gated-communities" source="Orion">gated communities</keyword>.</li><li>Escalating rental expenses are altering behaviours, nudging tenants towards considering <keyword id="408196" type="General" weightage="20" keywordseo="home-ownership" source="Orion">home ownership</keyword> as a viable option. </li></ul>In 2023, developers have displayed a bullish approach towards new project launches, directly responding to the rising demand for residential spaces and the swift uptake by buyers, according to NoBroker, a property search portal. During this period, <keyword id="19784935" type="General" weightage="20" keywordseo="property-values" source="Orion">property values</keyword> experienced their most significant surge in a decade, due to several factors including a scarcity in inventory, buyers' preference for home ownership, infrastructure enhancements, better connectivity, and overall economic expansion in these urban centres. A shift has occurred in the buyer demographic, with a larger proportion of first-time homebuyers entering the market. Demand for ready to move in properties on a rise According to NoBroker, the demand for RTMI properties has increased from 78% in 2022 to 85% in 2023. However, supply has not been able to keep up with this increased demand. The Covid years had seen a drop in new project launches (due to all round uncertainty), which has now led to a crunch in the available inventory. The above has resulted in a significant increase in the price of resale properties in older projects. There has been a marked increase in the speed of deal closure in gated communities, from 58 to 32 days, at prices that are 1.2 to 1.3X of prices just a year back. This jump in demand for RTMI inventory can be attributed to: people looking to move in immediately (mostly renters) and investors in a buoyant real estate market to capitalise on the wave of higher rental yields. Bangalore and Mumbai have registered maximum demand for RTMI properties for obvious reasons. Gated communities in demand, even though they come at a premium In metros areas, an increasing number of buyers are leaning towards acquiring apartments or houses situated within gated communities. These properties come at a higher price due to their ability to offer convenience and amenities that many buyers desire but are generally lacking or difficult to access within the broader social infrastructure. These sought-after features include enhanced security measures, access to a gym, sports facilities, swimming pools, and various other amenities. The premium cost is often justified by the comprehensive package of benefits and comforts these properties provide, catering directly to the preferences of discerning buyers seeking a more holistic and secure living environment. This trend has indeed become evident through the introduction of numerous integrated townships in different cities. Return to office means more want to buy within city limits Following the return to office, there's a renewed interest in purchasing properties within city limits. During the Covid years, 42% of customers leaned towards buying homes on the outskirts, a short-term shift in behaviour. However, there's been an increase in the percentage of individuals seeking properties within city limits, rising from 79% in the previous year to 85% this year, according to NoBroker data. Mumbai and Bangalore stand out as exceptions, where long-term real estate investment strategies continue to push investments towards the outskirts of the cities. These decisions are supported by strong investment rationales. In Bangalore, the growth of the urban landscape towards the Airport in Devanahalli remains a driving force. For Mumbai, customers priced out of the city are turning to suburbs. Higher <keyword id="12243727" type="General" weightage="20" keywordseo="rents" source="Orion">rents</keyword> makes it tough for tenants, make them consider home ownership India's rental landscape is proving tough for tenants, grappling with soaring rents that strain their finances, compelling them to cut back on expenses. While gated societies were traditionally preferred for their security and amenities, their steep rents are shifting demand towards more affordable independent houses and floors. Notably, there's a rising interest in areas slightly distant from office hubs but reachable by metro. This shift is driven by both convenience and a strategic response to sky-high rents. However, regions not neighbouring office complexes or IT hubs haven't experienced a drastic rental surge. The escalating rental expenses are altering behaviours, nudging tenants towards considering home ownership as a viable option. The desire to secure property has accelerated amidst these challenging rental market conditions, shortening the time span between decision-making and action-taking.

Ready-to-move-in properties witness demand uptick in 2023

Indians are changing the way they are looking at <keyword id="2228149" type="PERSON" weightage="20" keywordseo="home-purchases">home purchases</keyword>. Earlier, the choice between an under-construction home (UC) and a Ready To Move In- Home (RTMI) would be based on many factors like cost benefits, risk appetite and much more. None of the arguments applies to the current state of affairs in the <keyword id="45243" type="PERSON" weightage="20" keywordseo="Realty-sector">realty sector</keyword>. Today, project delays are becoming common. The extent of time delay has also increased from the customary one or two years to up to five years, in part due to tighter availability of finance – both in terms of equity and debt. According to a<a href="https://www.thehindu.com/life-and-style/homes-and-gardens/when-housing-projects-get-delayed/article30051053.ece"> report by Elara</a>, close to half a million residential units across 1,665 projects are delayed by over five years. The government has offered a ₹25,000 crore bailout package for stuck housing projects. On the ground, however, home buyers are suffering from a triple whammy of delayed projects, EMI payments and monthly rentals. “As per a National Consumer Disputes Redressal Commission (NCDRC) order, a developer must pay a penalty at 6% per annum on the amount deposited by the buyer for a delayed period,” said a report by Anarock Consultants. However, this is close to half the interest charged by banks to buyers when they opt for home loans. The rise of RTMI homes All this is driving people towards Ready To Move In Homes. The fact is that the price difference between homes under construction and RTMIs are as low as 3-7%, according to<a href="https://economictimes.indiatimes.com/wealth/real-estate/price-gap-between-ready-under-construction-homes-fall-to-3-7-report/articleshow/72844255.cms?from=mdr"> property consultant Anarock</a>. “The price disparity between the two categories is witnessing a year-on-year decline. In 2018, the difference was 5-9 per cent; in 2017, it was around 8-12 per cent across the top cities,” the report said. Homebuyers prefer RTMI units for a very simple reason — the instant gratification of buying a home and moving in within a few months. Also, when homes are ready, it is easier for homeowners to assess neighbourhoods and their development, especially in cases where homes are being built in new and emerging areas. It also comes with absolutely no risk in terms of delays and home buyers will be able to inspect the unit prior to purchase. Also, in the new GST regime, there are tax benefits to buying RTMI homes as well. RTMI units do not fall under Goods and Service Tax net, which results in an additional 5% tax that would have to pay if they purchased a home under construction. Moreover, buyers can immediately avail of Income Tax benefits on home loan payouts, making it an extremely attractive proposition. All in all, the buyer preference for RTMI homes might provide an extra incentive for builders to hasten their projects — relieving some of the many pain points in the real estate sector.

Project delays, risks and uncertainty are driving home buyers to choose Ready To Move In Homes

New Delhi, May 6 () Leading realty firm Tata Housing on Wednesday launched an online campaign to sell completed housing units in its 17 projects, offering prospective buyers to book their flats by paying 10 per cent now and rest in January next year. Housing demand has been affected badly because of nationwide lockdown to control coronavirus disease. Real estate developers and brokers are adopting digital marketing tools to sell residential apartments to mitigate the impact and tide over this crisis.Tata Housing Development Company said in a statement that the company has launched the "Happy Place Called Home" campaign, aiming to provide homebuyers an opportunity to purchase their dream home even during this time of uncertainty caused by the coronavirus outbreak.The campaign is extended across 17 Tata Housing projects with ready- to-move-in properties."The scheme allows customers the flexibility to pay 10 per cent now on their preferred property and rest in January 2021," the statement said.The customer needs to pay an amount of 1/2/3 lakhs depending upon the type of unit before May 31. The customer has time till June 15 to visit the property and decide whether he/she wants to continue with the booking.In case of any uncertainty, the customer has the liberty to get a 100 per cent refund on the EOI (expression of interest).The scheme was launched through a webinar attended by over 2,000 property brokers.Sanjay Dutt, MD &amp; CEO, Tata Realty &amp; Infrastructure Ltd said, "In a dynamic country like India, changes in the housing trends are witnessed every few years. Amid COVID-19, the realty market has seen shifting buyer preferences from under construction to Ready to Move In properties (RTMI) due to the comfort and convenience it provides the homebuyers"."Hence, even developers must embrace it and evolve themselves to keep up with these trends," he added. Tata Housing Development Company is a closely held public limited company and a subsidiary of Tata Sons.It has a pan-India and international presence with demonstrated capabilities in construction, engineering, commercial/ IT parks, housing and township development. MJH BALBAL

Tata Housing to sell ready flats in 17 projs online; buyers can pay 10% now, rest in Jan next yr

Microsoft CEO Satya <keyword id="2045946" type="PERSON" weightage="20" keywordseo="Nadella">Nadella</keyword> is on a three-day visit to India to share his vision of the <keyword id="2059551" type="PERSON" weightage="20" keywordseo="future-of-technology">future of technology</keyword>. Indian CEOs are Nadella’s primary audience and he has fireside chats lined up to deliberate on how technology will shape the world in the years to come. Nadella could also meet PM <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, and interestingly, his visit coincides with that of Trump, who <a href="https://www.businessinsider.in/india/news/day-one-of-donald-trumps-india-visit-these-are-all-the-highlights/articleshow/74277019.cms">arrived in India</a> just a few hours ago. During the opening keynote at the Future Decoded CEO Summit, 2020, Nadella listed out how Indian companies are using Microsoft products to streamline their businesses. Here’s a quick snapshot of what he said: Piramal Glass implements RTMI 
 <div type="image" title="Parimal Glass" msid="74282946" hostid="261"></div>



 Piramal Glass, one of the leading manufacturers of glass packaging for pharmaceuticals, cosmetics and the beverage industry started implementing Real Time Manufacturing Insights (RTMI). The company has used IoT sensors in its production line to get a feedback loop for quality control. IoT sensors are connected to the cloud; and alerts are sent via SMS, email, and push notifications when an anomaly is detected, or the production efficiency drops. Reliance Industries uses Microsoft products across industries 
 <div type="image" title="Reliance Industries" msid="74282940" hostid="261"></div>



 Reliance Industries is using Microsoft’s products to develop its platforms from diverse industries like network to retail. The company is using Azure Cloud in their own data centres for developing stack, LinkedIn for improving learning, hiring practices and more. Apollo Hospitals is using AI and ML develop a localised cardiac risk score 
 <div type="image" title="Apollo Hospitals" msid="74282933" hostid="261"></div>



 Apollo Hospitals has teamed up with Microsoft to use machine learning for developing artificial intelligence powered cardiovascular disease risk score. This has helped Apollo Hospitals develop a non-biased cardiac risk score for Indian population. Apollo Hospital’s senior consultant for interventional cardiology, Dr Shiv Kumar has said that this score is twice as accurate as the existing models. State Bank of India builds a frontline sales app 
 <div type="image" title="SBI" msid="74282932" hostid="261"></div>



 After two employees of SBI’s Trivandrum branch took the initiative to build a Power app to help their frontline salespeople, State Bank of India has rolled out this application to more than 200 branches. Myntra uses Azure for supply chain management 
 <div type="image" title="Myntra" msid="74282930" hostid="261"></div>



 Fashion and lifestyle portal Myntra has migrated to Azure for all its functions – from supply chain management to site capabilities. By centralizing its data platform, Myntra is applying advanced analytics and machine learning to understand customer preferences and provide personalized products and marketing. Myntra is also using Microsoft Power BI to allow its employees to act on real time feedback to provide a better customer experience. InMobi uses Azure to get a 360-degree view of customers 
 <div type="image" title="InMobi" msid="74282922" hostid="261"></div>



 Bengaluru based enterprise platform provider InMobi partnered with Microsoft to use Azure as the company’s preferred cloud provider. The company via its InMobi Marketing Cloud enables marketers get a 360-degree view of customers. The insights will help design customer journey; analyses and acts on customer feedback across channels. Udaan uses Azure for a lean engineering setup 
 <div type="image" title="Udaan" msid="74282915" hostid="261"></div>



 Udaan, which is one of India’s largest online B2B marketplace, has been running on the Azure platform since the beginning. The company’s co-founder, Amod Malviya, credits Azure for allowing the company to have an extremely lean engineering setup. Project HAMS uses camera sensors to ensure driver safety 
 <div type="image" title="Project HAMS" msid="74282905" hostid="261"></div>



 Indian cab aggregator is currently looking to implement Microsoft’s Project HAMS (Harnessing AutoMobiles for Safety). Project HAMS uses a smartphone’s rear camera, selfie camera and accelerometer to ensure that the driver is driving safely. The company may also use this to decide whether to lease a car to someone or not. Eros Now uses AI to learn how its users interact 
 <div type="image" title="Eros Now" msid="74282900" hostid="261"></div>



 Eros Now has built its media production facility on Azure. The company is also using AI to change how users interact and improve voice search for video content. Eros has also created an engine to offer personalized recommendations to users. Narayana Health uses Power BI to optimize its costs 
 <div type="image" title="Narayna Health" msid="74282884" hostid="261"></div>



 The Narayana Health group is using analytics tools like Power BI dashboards to get real-time financial information from its hospitals. It also uses these tools to monitor and analyse nurse hours, daily. Power BI tools have also helped in optimizing costs for reducing turn-around time for labs, monitoring costs of consumables, predicting blood requirement and overall reduction in costs to patients. Royal Enfield uses Dynamics 365 to maintain service histories and job cards 
 <div type="image" title="Royal Enfield" msid="74282876" hostid="261"></div>



 Royal Enfield has used Microsoft Dynamics 365 to implement a Dealer Management System that allows the salesmen to maintain a customer’s profile. A similar system is used at service centres to view service histories and create new job cards for vehicles. Eureka Forbes uses Dynamics 365 for marketing 
 <div type="image" title="Eureka Forbes" msid="74282870" hostid="261"></div>



 Water purifier Eureka Forbes implemented Dynamics 365 in the back end to provide digital leads and customer insights to salespeople. The company uses a cloud-based SaaS model for front-end apps that allow the salespeople to access the water quality of a particular area and select the right product to sell. Novartis India, Sterlite Power and Genpact have been using LinkedIn to improve learning, recruiting and marketing practices in the companies. Mindtree and Mahindra Group are using Microsoft Teams for communication and collaboration within the organisations. See also: <a href="https://www.businessinsider.in/business/corporates/news/microsoft-top-boss-satya-nadellas-conversation-with-mukesh-ambani-asias-richest-man/articleshow/74278962.cms">Microsoft top boss Satya Nadella's conversation with Mukesh Ambani, Asia's richest man</a> <a href="https://www.businessinsider.in/tech/enterprise/news/as-microsoft-makes-one-its-fastest-growing-cloud-software-businesses-available-for-government-it-will-ramp-up-pressure-on-rivals-like-salesforce-analysts-say/articleshow/74259902.cms">As Microsoft makes one its fastest-growing cloud software businesses available for government, it will ramp up pressure on rivals like Salesforce, analysts say</a>

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Prospective homebuyers expect property prices to increase

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Project delays, risks and uncertainty are driving home buyers to choose Ready To Move In Homes

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Tata Housing to sell ready flats in 17 projs online; buyers can pay 10% now, rest in Jan next yr

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From Royal Enfield to Reliance Industries – Nadella lists out how Indian companies are using Microsoft products

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