News: How small realtors turned covid crisis into opportunity-05-12-2020
Of the 13,000 units launched in NCR this year, nearly 45% was by branded players while 55% was by small developers, as per a study by real estate consultants Anarock.
NOIDA: Believe it or not, branded biggies who have so far capitalised the real estate micro-markets of Noida, Greater Noida and Gurugram have been conservative during the Covid-19 lockdown while small, non-branded construction firms made a foray at the same time.
Of the 13,000 units launched in NCR this year, nearly 45% was by branded players while 55% was by small developers, as per a study by real estate consultants Anarock.
In fact, the trend is not restricted to NCR, all major realty markets of the country have shown a similar trend, the study has revealed. Of the 7,750 units launched in Gurugram this year till September, the ratio of branded to non-branded players stood at 61:39. Of 1,000 units launched in Noida in 2020, branded players comprised just 26% while a whopping 74% was by small firms. In stark contrast, in 2019, the ratio stood at 72:28.
Similarly, Greater Noida with over 1,450 new launches in 2020 had the ratio (branded to non-branded) at 56:44 against 62:38 in 2019. Interestingly, of the total new launches of 2,830 units in 2020 in Ghaziabad and Faridabad combined, the share of branded developers was zero.
“There have been some launches during the lockdown period, we launched a project, so did the Gulshan group and the Ace group. Small players are coming on board at this time. Builders are buying houses and then converting them into apartments,” Amit Modi, vice president of Credai (western Uttar Pradesh), told TOI.
“Most of the big branded builders have expanded fast and failed to deliver on time or on quality. It is a good sign to see that small builders are coming forth with projects. We hope end users get their homes on time through these projects and the need for housing is met,” said Balvinder Kumar, UP-Rera member.
