“In an era of stress and anxiety, when the present seems unstable and the future unlikely, the natural response is to retreat and withdraw from reality, taking recourse either in fantasies of the future or in modified visions of a half-imagined past.” …
Alan
Moore is an English writer known primarily for his work in comic books
including Watchmen, V for Vendetta, Batman: The Killing Joke and From Hell.
Regarded by many as the best comics writer in the English language, he is
widely recognized among his peers and critics. And how true her words are as
just when my last sharing about the year ahead in Dec 21, I concluded with
“good times are ahead’, come January 22 & again the dark clouds of
uncertainty started surrounding on our heads! The scene is like London in World
War 2, where every night after night German bombers keeps hovering over the
head of the city & you never used to know which night will be your last
& yet the city not only survived but regained its glory! This is the need
of the time for real estate as one thing is sure (till now) the third wave of
virus attack may be larger in volumes & faster in spreading but seems to be
less vicious & by now we are mentally as well infrastructurally much more
prepared for the attack! Yet the real
estate should always must brace itself for the impact as we make the costliest
product among all industries which is equally essential too as a need! So, how
we are going to face this future (or present) as already even when the
situation was improving by the year end of 21, then also cost of construction
due to major hike in materials as well labour prices has already gone sky
rocketing is one side of the coin. Then expatiations of the customers from the
builders on negotiation front has also gone way high. Here I remembered a joke
about bargaining ion Delhi’s famous Palika Bazar market where “bargaining” is
the key word to shop, it’s as below…
A boy went to buy a jean pant for himself in Palika Bazar on his
own for the first time. His housewife mom advised him that in Palika Bazar the
traders are cheaters, so whatever price the shop keeper will tell you of the
jean pant ask for 50% of it! The boy remembered this advice & headed for Palik
Bazar. After visiting few shops, he like a jean pant of one of the shops &
asked the shopkeeper its price. The shopkeeper said its Rs 2000 only! Adhering
to the advice of mother the boy said, bhai, I will give Rs 1000 only for the
pant. The shopkeeper first as usual made lot of fuss hearing this but agreed
& said le jao i.e., have it at Rs 1000. Hearing this the boy said, ab Rs
500 hi dunga i.e. I will give now Rs 500 only (as shopkeeper has said Rs 1000).
The shopkeeper got surprised & after lots of arguments said ok bhai, I will
give the pant at Rs 500, khush i.e., happy? Now the boy said he will give Rs
250 only for the pant (Mom’s advice of 50%). The shopkeeper got amused &
jokingly said chal bachha, de diya ye jean pant tuze freemen i.e. I will give
you this pant free of cost! Hearing this, the boy immediately said ab do lunga i.e.,
if you are giving free then I will have two jean pants instead one!
The
joke ends here as no reaction at the end of the joke that of the shopkeeper is
available, but this is the scene in real estate at present! The story much
more resembles to the scene in the real estate & to add spice (or say rub
salt on the wound) here there is a mediator also along with the boy & he
asks for a scarf free with the two jean pants as his commission for the deal!
Well, it was just a joke so no offence please, as i.e., the Channel Partners
or Agents are also now an inseparable part of the real estate deals (most of
the deals, I meant) because many clients prefer to deal through the agents than
dealing directly with the builder (courtesy, reputation of the builder fraternity,
they themselves have built around)!
And if
this is not enough for the real estate then on the third front i.e., apart from
construction cost & customer’s bargaining, there is Mai Bap Govt to tackle
with! On one hand its weird policies like No GST or sale of ready possession i.e.,
post completion certificate from competent authority, not thinking about rebate
for already paid GST for the construction of such projects etc then on other
side there is Advance Tax to be paid on ready possession but even on the unsold
units too! And
then the routine local level sanctioning policies delays & confusion continuing
on the sanctioning process & with all this burden, the banks are as usual
turning their backs on the builders on funding front! Never real estate players
(read as builders) has find themselves in such a fix, just like Abhimanyu
situation, as they knew to start a project but how to finish it & sale it,
that’s the crux of survival! And exactly
post second wave when things were seeming to be streamlined and sales (with
reduced margins) were improving again we have to face the third lockdown
situation which morally breaks the buying mind set of the prospective clients!
This is how the New Year has welcomed real estate yet look at
golden side of it, here is a product which doesn’t perish or it’s shelf value
never reduces (like other commodities). With two lockdowns experience at the
back, more & more people are inclining to have a home of their own & if
uncertainty for some is a cause to hold their decision, then for some it’s a
tool to push their decision to go for the home as early as possible. And thanks to our
130 plus crore population, even 50% of such some people makes it a huge number
for the home buying in the urban areas! This is why the real estate should be
happy as with every low tide there does come high tide & may be the
pandemic situation is a boon for real estate especially for having an own home
for many, is what the end user i.e., a home buyer is thinking! Agreed investors
may not be much interested but then any movie become a hit on the genuine movie
fans & not by the sale of black marketing of the tickets, right? Fortunately,
till now the third wave though has hit us fast & massive in numbers yet thanks
to the vaccination drive of our country the fatalities are less & so is the
panic which again is very much important aspect for buying mentality of the
clients! The challenge with real estate is to make the costumers confident
about they are getting a right deal as repeatedly I am saying its never about
good or bad scale when you are looking for a home, its just a right or wrong choice
depending up on the needs of the customer! Because when you say something as a
good investment, its when it fetches you good returns, right? And when you call
something as a bad investment, its when you lose money or the investment goes
in to the drain, correct? But when you buy a home, it will always be with you
& never will go to drain, it will serve you as your shelter from where
nobody can ask you to leave, you can rent it out for some money always, it
won’t deteriorate like any other goods neither its insurance costs will keep on
rising the way it happens with best of the cars. On the top of it you can
consider it as a gold as it will fetch you decent money when you go for sale: agreed
it may not get sold overnight like gold but then unlike gold, nobody can theft
your home from you, is also equally true making the home most of the times a
right investment. So, what I meant by wrong investment in buying a home, it
means, it’s from the use aspect, for e.g., you want to start jogging then you won’t
look for a formal or leather pump shoe, right? You will buy a sport shoe & again
in the sport shoe you won’t buy a shoe for playing tennis or indoor games but
will ask the shop keeper to show you a shoe which you can use for jogging &
that to the one which fits perfectly in your feet, not too loose or too tight,
this is how you buy a right shoe, right? Same way, while buying a home if you
define your criteria correctly by understanding your needs of living by
considering some future time span, then you will always end up in buying a
right home for you which is a right investment also. And only if you chose a
home by just going with a price tag (the cheapest) or a location tag (paying
over- premium price) ignoring your needs, then it will be a wrong investment,
as such home won’t serve you properly & it will take time to get sold if
you want to sale, it & that isn’t the fault of the builder or the home but
of your wrong choice only!
The role of the builders is equally important in these times
(it always was, actually) & the builder as well his or her team should be
transparent with the prospective as well existing client. Try to get connected
with every client on one-to-one basis, keep discussing with them, share
whatever information, knowledge you have & try to gain knowledge about the
needs of the buyers than just trying to sale your homes to them! Make your clients
understand their needs, make them aware about right & wrong homes &
then let them choose your home or others, that’s how you will make the entire
buyers confident & at comfort while they strike deal with you or your
fellow builder, ultimately, it’s the turnover of real estate which will take us
ahead together & that’s the surest way of facing the hard times, right? Dear builders &
home buyers, do mind a right home is never an accident, its outcome of
transparency, understanding needs, keeping away greed, trust, dedication,
commitment & above all togetherness; so, go ahead & build a society
& not just buildings, that’s sure way for a wonderful future together for
the real estate of which both i.e., the builders & home buyers are
inseparable part of!
-
Sanjay Deshpande
Sanjeevani Dev.
Please
view my sharing about real estate in Pune at You Tube link below..
https://www.youtube.com/watch?v=g4xX7eopH5o&t=5s
Please do visit my blog links below to read about real estate & home
buying!
https://visonoflife.blogspot.com/2021/09/choosing-right-home.html
http://jivnachadrushtikon.blogspot.com/2021/09/blog-post_21.html
Creating Togetherness; team Sanjeevani Way (Click link below)
https://www.flickr.com/photos/65629150@N06/albums/72157627904681345
For any of your complaints about city, log in at link below
www.punecorporation.org
Take your issues to
Hon PM at link below..
Think Green, Think Life
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