Realty’s South report

Saturday 6th April, 2019

Article Details
Publication  The Hindu
Source  Bureau
CCM  100.3
Edition  Chennai
Supplement   Property Plus
MAV  1,604,800
Language  English
Page  4
Circulation  466,149

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A look at Best Practices Report 2019 and the best performers from South India. By M.A. SIRAJ T he Best Practices Report 2019 for the India real estate bUS iness by Track2Realty, for the third consecutive year finds consumers distinctively tilting towards players registering better regulatory compliances. The report is based on a survey covering 10,000 respondents in 20 cities, has rated leading realty bUS iness firms on 10 parameters i.e., fiscal management, execution, market depth, consumer connect, transparent deals, functional professionalism, care, employer communication, and Desirable Practices. Bengaluru tops Bengaluru-based Sobha Limited, for the second year in a row, has been ranked as number one. The survey has taken into account not merely scientific consumer survey benchmarks but also accessed opinion on social media and other open forums online. The report says five out of the top 10 performers of best practices hail from Bengaluru. They are Sobha Limited, Embassy Group, Prestige Group, Puravankara Limited and Brigade Group. The city has been voted as number one choice of investment by buyers. Bengaluru not only retains its number one investment magnet choice, but also improves its investment score, compared to the 2017 report. As in previous years, the performance of South Indian firms and the ones from Bengaluru has been way ahead of the national benchmark of best practices. Other performers The leadership chart in South India is led by Sobha Limited. Embassy Group has ascended the ladder and has been ranked number two from number four last year. They are followed by Prestige Group, Godrej Properties, Brigade Group, Puravankara Limited, Raheja Corp., Salarpuria Sattva, RMZ Corp., and Mahindra Lifespaces. Among the top 10 investment-worthy cities in the country, four = 3) bh | | [4 tg KE hhh Rh EERE REEEFEE | 1 ww Eo . | a --- Realtys South report are from South India, i.e., Hyderabad at number three, Chennai at number 7 and Coimbatore at number 10. The report, edited by Ravi Sinha, CEO and Managing Editor of Track2Media, says out of the 10 metrics on which the firms were evaluated, Sobha was at the top position in six. West zone, mainly Mumbai and Pune, has been found the next best performer. East zone led by Kolkata-based developers is reported to be gradually taking to compliances and understanding the importance of consumer connect to improve upon its past record. The market leader in the region is Ambuja Neotia, followed by Godrej Properties, South City Projects, Srijan Realty, Forum Group, RDB Group, Unimark Group, Shrachi Realty and Mani Mall story In a special focus on shopping malls, Report 2019 says that 68% Indians would prefer to go to a mall than just shop with the click of a mouse. Most respondents, i.e., 82% said they would like to visit a mall or physical store for expensive items and opined that online shopping is only good for grocery and other routine buys. 72% respondents said they dont like visiting the same mall on a repeat basis. Majority of the respondents (64%) said they found malls as an option for hangout with family where entertainment and dining is the top priority. Real Estate Investment Trusts (REITS) are still not a credible option for invest. ment for a major In