“The sentiment of the customer has changed post Covid 19…” Eldeco Infrastructure’s Harpreet Kaur on Increasing Home Buyers

Orientbell Tiles, in association with TV9 Bharatvarsh, India’s second most watched Hindi news channel presents to you Building A New India – a 3 part series that aims to bring together policy makers and thought leaders under a single forum in order to re-imagine the realty sector.

In the first episode we brought together Mr. Pradeep Aggarwal, Chairman, Signature Global, Mr. Praveen Jain, CMD, Tulip Infrastructure, Mr. Rajeev Nehru representing RICS along with Haryana RERA Chairman Mr. KK Khandelwal to discuss what is consumer’s choice – Affordable or Premium Housing.

Along with the key panelists we had a host of other industry bigwigs and experts in the audience who weighed in on the topic with their opinions. One such industry expert was Ms. Harpreet Kaur, from Eldeco.

Ms. Harpreet Kaur was in the audience section, and when the host mentioned how she had read conflicting reports where one report mentioned affordable housing was on the rise while another mentioned premium housing was the favourite of home buyers, here is what she had to say:

Which sector is gaining more buyers?

“Buying has increased in both sectors- affordable as well as premium, but also in the mid segment. The sentiment of the customer has changed post Covid 19. There has also been a change in rate of interest, there is a discipline across builders due to RERA, so the fly by night investors, who were developers, have been weeded out of the system, and the players currently in the market are quality players.” Ms. Harpreet Kaur pointed out.

Why is there an increase in home buyers?

There are many factors that have contributed to this according to Ms. Harpreet Kaur, the key factors being reduction in interest rates and increased faith in the system thanks to the implementation of RERA.

Has there really been an increase in demand for homes?

Ms. Harpreet Kaur added, “In the last quarter of 2020 there was a 73% rate of recovery, and in the first half of this year the recovery rate has been at 75%. If you take into consideration all these factors you will see that there is a rise in demand across all sectors.

You can now view the entire episode on Affordable Vs Premium housing here.

Watch what Ms. Harpreet Kaur said during the show below:

With Building A New India Orientbell Tiles aims to bring thought leaders & policy makers in the real estate sector to re-imagine the realty sector.